www.cnn.com/2021/01/28/media/china-box-office-coronavirus/index.html
“In 2020, China overtook the United States to become the top movie market in the world. The country, perennially the second-largest movie market, brought in $3.1 billion at the box office in 2020, according to Comscore (SCOR) — nearly $1 billion more than the United States did last year.
“If China doesn’t need US movies, Hollywood studios will have to dramatically reduce their spending on big budget blockbusters,” Aynne Kokas, the author of “Hollywood Made in China,” told CNN Business. “The current budgets are unsustainable without access to the China market. That could fundamentally change the model of the US film industry.”
“Regardless of what happens with Covid, we have at a minimum entered a world where the Chinese and US box offices are equally important,”
So where do Hollywood and China go from here? That question, like so many in the film industry right now, has no easy answer. Yet whatever the future of the film industry is, it’s likely to be one where Hollywood and China remain the two major pillars holding up the global box office.