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Media & Entertainment

China's movie industry won't surpass US in 2020 after all: report

Financial woes and censorship means coronavirus hit Chinese cinema harder

Movie theaters in China are reopening, but underlying issues in the film industry are expected to weigh on growth..   © AFP/Jiji

NEW YORK -- China's box office, originally projected to become the world's biggest in 2020, will remain in the shadow of the U.S. for a few more years, according to a recent report.

The COVID-19 pandemic will severely affect China's overall growth trajectory, and total cinema revenues will shrink 4.8% on average each year through 2024, according to a report released this month by PwC. The consultancy forecasts that the U.S. will remain the largest cinema market for at least the next five years, with total revenue reaching $10 billion in 2024, compared to $8.1 billion for China.

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