China now tops world’s movie market

China recently surpassed the United States to become the world’s biggest movie market by ticket sales for the first time. China recorded box-office revenue of US$1.99 billion from January to October, topping US sales of $1.94 billion.

This gap is expected to widen further by year-end as most Hollywood blockbuster releases, such as Marvel’s Black Widow and the James Bond film No Time to Die, have been postponed to next year due to the impact of the Covid-19 pandemic.

While China was expected to take pole position in global ticket sales, the pandemic accelerated its ascent. Due to China’s effective control of outbreak on a domestic level, most of its movie theatres are currently operating at 75% capacity compared with 25-50% in the US. Even in Thailand, where cinemas have opened almost all of their screens, average attendance is still just 25-30% of normal…