Chinese audiences enjoying a 3D Film
For decades, China has allowed 20 “blockbuster” foreign films to be screened in its country year round. Last year, movies like Harry Potter and the Deathly Hallows and Transformers: Dark of the Moon ended up becoming breakout hits in the country, much to the chagrin of the Chinese government, who were hoping that historical pieces like Beginning of the Great Revival would garner higher ticket sales. Now it appears that the tide is turning.
Yesterday, it was announced that China would be increasing that foreign film quota to 34 blockbusters, which is quite the boost. There is a catch, though: these extra 14 films must be in either IMAX format or 3D. In addition, Hollywood studios will be allowed to keep 25% of the box office gross rather than the current 13%.
The new status quo is part of a last minute deal struck by Chinese Vice President Xi Jinping and American Vice President Joe Biden during Jinping’s visit to the country. How this new deal will affect China’s own film industry remains to be seen but one thing is for certain, now there will be even more big-budget movies competing for Chinese theater screens and ticket sales.
