A regular storyline over the past year has been the remarkable strength of the theatrical market in China, which has fended off the worst effects of the COVID pandemic. In 2020, the Chinese box office surpassed that in the U.S. for the first time in history, and is on track again to hold on to top honors in 2021, having already earned $2.4B year-to-date while the U.S. has sputtered with an anemic $145M.
In addition to the box office, there are other indications of China’s strength in exhibition, where exhibitors commissioned nearly 6,000 new screens in 2020 and an additional 2000 already during the first two months of 2021. The growth and relative strength of the Chinese market will have broad implications for studio production and distribution strategy.