Ernst & Young: Chinese Box Office Will Surpass North America By 2020
on November 29, 2012
A new study by Ernst & Young predicts that the Chinese box office will surpass the North American box office by the year 2020. According to the study, China's media and entertainment industry is expected to grow at an annual rate of 17% in the five years leading to 2015.
That's not bad news for Hollywood considering that American films still dominate in China. It just means more global business. 6 of the top 10 all-time highest grossing films in China are from Hollywood: Avatar ($203.7 million), Transformers: Dark of the Moon ($172.2 million), Titanic 3D ($155.3 million), Mission: Impossible - Ghost Protocol ($102.5 million), Kung Fu Panda 2 ($95 million) and The Avengers ($91.4 million).
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