Home
June 04, 2010
Chinese box office soared in Q1 2010, increasing by 134 per cent over the first quarter 2009, reaching 2.93bn yuan ($429m), compared to 1.25bn yuan ($183.1m), according to media authority SARFT. This surprising growth rate, even for a rapidly growing market like China, is explained by one film: Avatar. James Cameron's 3D title accounted for 45 per cent of box office gross in first quarter 2010 and has now taken an astonishing 1.32bn yuan ($193.3m) in theatres and is still on release. The film was also taken off 2D screens by the regulator two weeks after its release in order to make way for other titles, although cinemas showing the 3D version did have an option to keep the film running in a limited way in 2D. The previous highest-grossing film was 2012, earning $68m overall, a month earlier, although with new cinema screens going up, the highest-grossing film of all time changed regularly: until now. Some cinema owners believe that Avatar has brought an atypical audience into the new cinema environment for the first time, widening the potential audience pool for future films. There are now approaching 1,000 digital 3D screens in China with further rapid growth occuring after the release of Avatar.
Korean box office rose by 30.1 per cent in first quarter 2010, compared with the same period last year, according to film agency KOFIC. However, admissions rose by only 7.3 per cent, a significant differential. This is explained by a market-wide rise in ticket prices from 7,000 won ($5.85) to 8,000 won ($6.65) during second half of 2009. One circuit, Megabox, laid the rise directly at the door of investing in new digital cinema equipment. A second reason is the success of several digital 3D titles, to which is added a premium on general ticket price. Market share for Korean films in first quarter 2010 was 44.3 per cent, down slightly from 45.1 per cent in same period 2009. Five of the Top 10 films for the period were Korean films.
Tags:
