The rapid growth of China’s film industry is, by now, hardly a secret. In December, we wrote about the $6 billion-plus year the Chinese box office enjoyed in 2015.
In tune with its historic hometown success, China’s global film influence has followed suit. In January, it was announced that Chinese Wanda Group had acquired major Hollywood player Legendary Entertainment. Legendary’s resume includes a few Hollywood flicks you mighta heard of: JURASSIC WORLD, THE DARK KNIGHT, INCEPTION, and STRAIGHT OUTTA COMPTON, among other marquee titles.
The message was clear: China’s place in the global film marketplace is here to stay, and it’s only growing. A March 7 Screen Daily piece further illuminates China’s ascending position in the worldwide scheme of movie things. As writer Liz Shackleton notes,
“This is the first time in history that Hollywood doesn’t have all the leverage. China has the capital and the world’s largest film market, placing it in a very different position to former financiers of Hollywood such as Japan and Germany.”
Shackleton also examines the potential creative influences that could stem from China’s Hollywood dealings. Only time will tell how much China’s industry growth enacts changes in the Hollywood film structure, and the time appears to be coming sooner than later.