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Market size and growth of China's film industry
According to the statistics of the State Administration of Press, Publication, Radio, Film and Television, China's film box office market has maintained a rapid growth trend in the past decade. The domestic film box office increased from 3.327 billion yuan in 2007 to 45.712 billion yuan in 2016, with a compound annual growth rate of 33.80%. The number of movie goers increased from 71 million in 2007 to 1372 million in 2016, with a compound annual growth rate of 34.47%. China's film industry has achieved steady growth under the new development situation of the national economy. Measured by box office income, China's film market has become the world's second largest film market after the United States.
National box office and trend from 2010 to 2016
Data source: 2016 China Film Market Report
Compared with 2015, the growth of the film box office market slowed down in 2016. In 2016, the total film box office market grew by 3.73% year on year, of which the domestic film box office grew by -1.74% year on year and the imported film box office grew by 12.50% year on year; The number of movie viewers increased by 8.89% compared with 2015. The reasons for the slowdown of market growth in 2016 mainly include two aspects: first, the lack of high-quality content to support the box office; Second, the bonus of ticket subsidy disappeared, and the rising cost of film viewing reduced the enthusiasm of film viewing.
Although the growth of the film box office market slowed down in 2016, China's film box office will still maintain a high growth rate in the medium and long term. The main reason is that there is a big gap between China's per capita viewing times and the box office amount per million people and North America. In 2016, China's per capita viewing times were 1, while North America's 3.8. In 2016, China's box office amount per million people was 33 million yuan, and North America's 219 million yuan. With the rising consumption level of Chinese residents, the deepening of urbanization and the demand for cultural products, the film market still has a large space for development.
Film industry
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