Box Office Slump

From 2010 to 2014, China’s box office saw an annual increase of 30 percent on average. Given the surging lead-up, 2016 was anticipated to be the year the country overtook the North American market. In 2016, China only had 7,000 fewer big screens than North America, a stunning rise over the last decade. The China Film Association expected the country’s box office to hit 60 billion yuan (US$8.8 billion) in 2016 – but the actual number was much lower, just 45.7 billion yuan (US$6.7 billion). The figure was up just 3.73 percent from 2015, the lowest rise for a decade. The slump came after a crackdown on box office fraud, a slowing pace of cinema construction and a decrease in subsidies. But insiders warned that China needs high-quality films, prominent production companies and a complete and mature industrial chain if it really wants to be a leader in film.