China overtakes Japan to become world's second biggest movie market

   Apr 13, 1:32 pm

Beijing, Apr 13 (ANI): China has overtaken Japan as the world's second-biggest cinema market in the first quarter of the year, industry experts have revealed.

According to industry figures, last year, the market value of the Chinese cinema industry, reached 17.25 billion yuan, with box-office receipts growing upto 13.15 billion yuan (2.08 billion dollars), the China Daily reports.

Mike Ellis, the Asia-Pacific President of Motion Picture Association of America, at a conference on Thursday, claimed that the number of China's cinema screens had increased from 4,753 in 2006 to 10,700 in 2011.

"Last year, China added on average eight screens in a single day. No nation in the world grew at that fast pace," Ellis was quoted as saying.

Ellis also highlighted that the US film industry , whose share in the global market grew from 57.3 percent in 2010 to 58.4 percent in 2011, may not be growing currently, but "internationally the market is doing terrifically well, here and throughout other nations." (ANI)

Nokia weighs down Microsoft's Q1 profit by 13 percent Oct 24, 5:57 pm
Washington, Oct 24 (ANI): Microsoft on Thursday reported its first-quarter earnings which showed the share value at 54 cents per share, down 13 percent from 62 cents per share a year ago.
Full Story
Rajapaksa to present 2015 budget proposals for first reading today Oct 24, 12:45 pm
Colombo, Oct.24 (ANI): Sri Lanka's President, Mahinda Rajapaksa, in his capacity as the Minister of Finance and Planning, will present the 2015 budget to parliament today for its first reading.
Full Story
Asian finance ministers to sign MoU to set up AIIB on Friday Oct 24, 12:26 pm
Kathmandu, Oct.24 (ANI): Twenty-two Asian countries will officially sign a Memorandum of Understanding (MoU) to establish the Asian Infrastructure Investment Bank (AIIB) on Friday.
Full Story
iPhone's record breaking sale surges Apple's revenue to 42.1b dollars, in Q4 Oct 21, 3:45 pm
Washington, Oct 21 (ANI): Apple recently announced an impressive fourth quarter earnings of 8.5 billion dollars on revenue of 42.1 billion dollars, which is said to come out as a result of the record breaking iPhone sales.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY