The Cinema market in China has entered the golden age. It is the world’s fastest-growing industry in the movie segment. The revenue in the year 2018 was approximately US$ 9.74 Billion, and it is expected that by the year 2022 it will cross United States Cinema in revenue generation and the number of viewers. According to Renub Research analysis, China Cinema Market will cross US$ 22 Billion by the end of the year 2025.
The Chinese companies are investing heavily in the cinema segment, "New powers," driven by globalization, the Internet, and finance, are emerging. In particular, Internet businesses, led by BAT and real estate developers such as Wanda have used resource benefits to infiltrate the entertainment industry and create an ecosystem gradually. Over the next five years, China’s film industry is on track for rapid growth.
As Country has seen over half of its movie theatres reopen after a six-month coronavirus-induced hiatus, the world’s second-largest film industry appears to have passed its darkest moment. According to Lighthouse, a box office tracker and data portal, more than 5,800 theatres around the country have resumed screenings by July 28, accounting for around 53.7 percent of the national total, with some 416,600 screenings arranged during the reopening week.
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But there are strict steps in place to protect both fans and employees. Tickets can only be purchased online, and within the theatres, moviegoers need to maintain space between themselves. Closure of cinemas in January 2020 as a precautionary measure against the propagation of the coronavirus. Food and alcohol are forbidden, and neither the new movie release nor the latest blockbuster are screening. But the unfinished affair is still drawing in long-hungry fans.
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