Industries & Festivals — April 23, 2013 at 2:13 am

U.S. film & television industry poured billions into China’s economy – study

china-theater-3d-crowdAccording to the latest study from the Motion Picture Association of America, the U.S. film and television industry spent $15.5 billion on China’s economy in 2011 and supported 909,000 jobs.

The industry generated tax revenues of $3.4 billion, according to the study, the Wrap reported.

The numbers are particularly impressive given that they come before the country loosened restrictions on the number of foreign films it allows to screen in China.

In April 2012, China announced that it was raising quotas on foreign releases from 20 to 34 a year.

The study was prepared by Oxford Economics and measures the entertainment industry’s contribution to China’s GDP, taxes and employment levels. The report was  also commissioned by the China Film Distributors and Exhibitors Association (CFDEA).

Last year, China demonstrated its box office heft by surpassing Japan to be the second largest market for Hollywood films. In total, China contributed $2.7 billion in box office revenue in 2012, a 36 percent jump from the previous year.

China’s growth has been seismic. Total box office revenues grew more than three-and-a-half times between 2006 and 2011, the study found, as China invested heavily in constricting new movie palaces to exhibit 3D and IMAX titles.

According to the study, there were roughly 9,300 screens in China in 2011, a 48 percent hike from the previous year. That figure is roughly five times the number of screens China had a decade ago.



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