Industries & Festivals — November 13, 2013 at 3:33 pm

Director Ang Lee: Chinese market to beat Hollywood in 10 years

china-flagOscar-winning director Ang Lee on Tuesday said that Chinese-language cinema could earn more revenue than Hollywood in ten years time and does not need to broaden its appeal.

Speaking ahead of the Golden Horse Film Awards in Taiwan, Lee said: “Chinese-speaking group is probably four times more than English-speaking people.

“So I think as long as we are influential in the Chinese-speaking world, I think we will prevail, we will ripple out.”

The 50th edition of the prestigious award ceremony, seen as the Chinese-language equivalent of the Oscars, will take place on November 23 in Taipei.

““I think in ten years’ of time maybe our market will be bigger than the Hollywood market. Things will come naturally,” Taiwan-born Lee said, who will this year chair the jury for the festival.

“It’s important that we keep doing it, it will have ups and downs but eventually it will pay back,” Industry analysts have predicted.

China’s domestic box office is now the world’s second-largest, behind the United States, with an expected $3.5 billion in sales this year.

At home, ticket sales have been rising about 35 percent annually. And they show no sign of letting up, as the number of movie screens, which has been rising at a similar rate and promises to reach about 18,000 this year, continues its expansion into smaller markets. Also, China’s domestic box office has recently tilted toward Chinese films rather than foreign imports.

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