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China’s box office is expected to surpass the US in 2020. That’s good news for Hollywood

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LOS ANGELES — As Hollywood’s ticket sales slow in the U.S. — thanks to piracy and streaming services like Netflix and Hulu — China’s growing appetite for movies is helping to make up the difference.

Experts predict that by 2020, China will be the world’s largest cinema market, with box office revenue expected to jump from $9.9 billion in 2018 to $15.5 billion by 2023, according to a report by PwC.

In the first quarter of 2018, China surpassed the U.S. in box office revenue for the first time.

That year, China’s box office cashed in $9 billion in 2018 — just behind the U.S. and Canada, which brought in a total of $11.9 billion in 2018, according to data compiled by the Motion Picture…



Source cnbc.com

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