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)

Saudi minister says Opec not responsible for fall in oil prices Dec 22, 5:28 pm
London, Dec 22 (ANI): Saudi Arabia's Oil Minister Ali al-Naimi has said that the falling prices of oil in the Gulf states is not the fault of Opec group.
Full Story
Sony lawyer says movie giant still plans to release 'The Interview' Dec 22, 2:19 pm
Washington, Dec 22 (ANI): Sony lawyer David Boies has confirmed that the movie giant will be releasing its controversial new film "The Interview".
Full Story
ANMI supports SEBI's decision to ban 260 entities from market Dec 20, 3:41 pm
New Delhi, Dec. 20 (ANI): Vijay Mehta, the chairman of Association of National Exchanges Members of India (ANMI), on Saturday backed the decision of Securities and Exchange Board of India (SEBI) to ban 260 entities from market and said that the concept of tax exemption on long-term capital gains was being misused.
Full Story
Blackberry reports net loss of 148M dollars for third fiscal quarter Dec 20, 3:19 pm
Washington, Dec 20 (ANI): Even as Blackberry's revenue continued to fall over the last three months, it managed to narrow down its losses in comparison to previous year.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY