Another major blockbuster is looking to take advantage of the financial benefits that come with co-production status in China.
Vulture reports that Paramount is trying to film part of Transformers 4 in China. Production on the sequel is set to begin in Spring 2013, so Paramount has plenty of time to set up a Chinese shoot.
Five major Chinese film distributors--China Film Group Corporation, Huayi Brothers Media Group, Bona Film Group, Stellar Mega Films Ltd., and Enlight Pictures Co., Ltd.--are joining forces to increase their share of box office profits. The coalition is asking for a 45% share from exhibitors instead of 43%. The main complaint is that production costs are increasing as state-of-the-art technology is used to make better films that can grow the market.
China's box office is heading into a prosperous period as 2012 comes to an end. Home-grown films such as Back to 1942 and CZ12 with Jackie Chan look strong, while America will be releasing Rise of the Guardians, 2012 3D and Life of Pi.
The recent foreign (read: mostly American) dominance of the Chinese box office has come to an end with Cold War, a Hong Kong action film. Cold War raked in $14.5 million during the week of November 5-11. Foreign films ruled the Chinese box office over the last four weeks: Taken 2 finished first during the week of 10/8-10/14, followed by Bait 3D, and then The Bourne Legacy held the top spot for the last two weeks.
Tai Chi II finished in second place with $5.9 million, pushing its total in China to $16 million.
The Bourne Legacy dropped to third place this past week with $5.6 million for a Chinese total of $31.2 million.
Wreck-It Ralph debuted in fourth place with $4.7 million. That's a relatively disappointing start for an animated film. Ice Age: Continental Drift was able to capture more than $70 million during its run in China.
Total Recall rounded out the top 5 with $1.7 million. The remake has grossed $18 million in China.
Variance Films reports that Tai Chi Zero has grossed $203,634 after four weeks of release in North America. While American films are doing very well in China, some Chinese films are forced to settle for modest results.
Monday Update: Universal is now reporting that The Bourne Legacy took in $3.1 million in China over the weekend for a cume of $29.5 million.
|Sunday Update: Universal reports that The Bourne Legacy took in $2.8 million in China during its third weekend of release. The action flick has now reached $29.3 million in China. Legacy's international total is $157.7 million.