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Hollywood optimistic over Chinese market

China Daily | Updated: 2014-06-05 10:18

Hollywood optimistic over Chinese market

Chinese elements can be found in many Hollywood movies, including Iron Man 3.

Hollywood optimistic over Chinese market

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Hollywood optimistic over Chinese market

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Real life is rarely what you see in movies, but Hollywood's expanding emphasis on foreign markets is giving its audience a more accurate glimpse into the world.

As the second largest box-office market, after the United States, China has been capturing attention of the biggest moviemakers in the business. Chinese actress Fan Bingbing's role in X-Men: Days of Future Past, although only one line long, highlights a changing dynamic in the movie industry.

Magic Storm Entertainment CEO Eric Mika says observing the Chinese industry for the past 15 years has allowed him to see the change firsthand.

"Hollywood is making a sincere effort to entice the Chinese audiences to see their films by scripting Chinese actors in the films and working with Chinese script writers," Mika says.

There is money to be made in captivating Chinese viewers. The international box office has increased 33 percent over the past five years to $25 billion in 2013, according to the Motion Picture Association of America. China contributed $3.6 billion to the record-breaking year.

According to the MPAA, nearly 70 percent of Hollywood's annual revenue from the box office now comes from international markets. X-Men, for example, has so far grossed about $340 million, of which foreign sales account for more than half. China accounts for nearly $40 million of the total, more than double the amount of any other foreign country.

Mika says box office returns is the main benefit to Hollywood targeting China, as well as the drastic expansion of cinemas throughout the country. In 2013, about 12 new cinema screens were added per day in China.

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