China has officially overtaken the United States in movie ticket sales this year, making the country the largest film market in the world.
According to The Hollywood Reporter, data provided by Artisan Gateway reveal that China reached $ 1,988 billion in ticket sales by October 18, exceeding the $ 1,937 billion in the United States. In the same report, analysts predict that the distance between countries will increase considerably by the end of the year.
Traditionally, the North American market dominates the box office sales of the world, however, the coronavirus pandemic messed up the accounts. While in the United States most cinemas have closed, China has already reopened them, reducing its seating capacity by 25%.
Ticket sales in China were helped by the country’s national holidays, which consolidated the influx of fans to movie theaters, with My People, My Homeland making $ 19.1 million, bringing the total won to 360 million and with the World War II epic The Eight Hundred surpassing Bad Boys for Life, becoming the film that grossed the most globally in 2020, with $ 460 million at the box office.
Meanwhile, in the United States, the largest cinema chain AMC Theathers is in danger of going bankrupt, having closed the doors of 634 screens in the American territory and 120 in the European territory.
With many cinemas still closed, several studios decided to postpone the release of their films. Furious Speed 9 and 007: No Time to Die are just two examples of a growing list.
Pedro Pestana is addicted to gaming, coffee and volleyball, roughly in that order. You can find some of his daydreams in @pmnpestana