China Film Industry Report, 2009-2010
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Currently, China’s film industry is experiencing a golden period. No matter what film production, box office, financing and cinema construction witness the explosive growth.
In 2009, Chinese mainland achieved RMB6.206 billion of film box office, with a growth rate of as high as 43%. Over the past five years, it grew at a CAGR of 30%, far higher than that of China’s GDP.
In H1 2010, the film box office in China exceeded RMB4.8 billion, rising 107% from that in the same period of 2009, and surpassing that of the year 2008, showing hug potentials of Chinese film market.
In early 2010, the State Council Secretariat Guiding Opinions Concerning Stimulating Flourishing and Development of the Film Industry was issued to firstly specify the film industry into national strategic industries.
The boom of China’s film market during 2008-2009 has spurred the flood of capital into the film industry. The film industry of China will continue to grow at a rate of over 60% both in 2010 and 2011, while the growth rate will slow down after 2012. In Japan, the film market gets increasingly saturated, and the growth rate tends to be moderate. As is presented below, China will become the world’s second largest film market by 2012, with the domestic box office revenue surpassing Japan’s.
Comparison of China's and Japan’s Box Offices and Growth Rates, 2005-2013E (Unit: USD mln)
The film producers, distributors and exhibitors all have extended towards upstream or downstream in order to maximize its profit from every industrial link by the model of production+distribution+cinema. The mergers among leading companies in upstream, middle stream and downstream are driven by capital to achieve maximal margin. The state-owned companies like China Film Group Corporation (CFGC) and Shanghai Film Group Corporation are accelerating to build cinemas and cinema circuits by their advantageous positions, and they are expected to go public in 2010 to obtain more fund. Huayi Brothers Media Corporation, the leader in private film firms, was successfully listed in 2009. Poly Bona, a film distribution company, not only participates in cinema construction, but also develops towards the upstream production to make more profit.
Meanwhile, a group of new investment entities presented themselves in Chinese film production market. Especially, the box office success that Perfect World and Letv.com respectively invested Sophie's Revenge and Welcome to Shamatown achieved has attracted foreign capital to aggressively enter the film production sector.
China’s film production market characterizes still a low concentration degree. CFGC and Huayi Brothers, respectively ranking the first and the second places, only occupies 10% and 9% market shares. Meanwhile, China’s top four film producers only accounts for 26% of total film box office, still less than that of the United States’ three producers in China, 27%.
However, the film distribution market of China is comparatively monopolized, with a higher concentration degree in box office. In 2009, the top four film distributors, CFGC, Huaxia Film Distribution, Poly Bona and Xiying Huayi occupied 75.7% market shares in all, and revenue-sharing imported film could be only distributed by CFGC and Huaxia Film Distribution. CFGC continued to take a lead in distribution market by right of its rich cinema circuit resource.
China has a relatively high concentration degree in cinema circuit field, since the top four, Wanda International Cinema, China Film Stellar Theater Chain, Shanghai United Circuit and New Film Association, totally covers 46.8% of box office shares. Of which, backed by Wanda’s business, Wanda cinema circuits have seized the central business district, and increases 100 screens annually.
Along with the explosive growth of film box office, only approximately 130 films of the total 465 China-produced films were exhibited in cinemas in 2009, and the rest 2/3 were not, which was mainly caused by the inadequacy of cinemas and screens that couldn’t afford to exhibit so many films. Therefore, cinema investment will be the focus of China’s film industry development in a long run.
In spite of the strong growth of film box office revenue in first-tier cities like Beijing, Shanghai and Guangzhou as well as still vast room for cinema investment, the fierce competition also get increasingly intensified. In comparison, the emerging second-tier and third-tier cities such as Changchun, Changsha, Dalian and Xi’an grow up and all have great market potential. Based on the analysis of comprehensive factors like consumption level of urban residents, cinema box office, regular urban population, audience number per exhibition, local housing price, cinema number and screen number, the cinema investment rating model is built to conclude the ranking of top 16 cities in China by investment value, as is shown below.
China’s Top 16 Cities by Cinema Investment Value, 2010
The report makes an in-depth analysis of status quo, competition layout and major companies of production, distribution, exhibition and derivative commodities of China’s film industry chain, and forecasts cinema construction in hotspot cities, and film derivative market.
1 Overview of Film Industry
1.1.1 Film Administration Bureau of State Administration of Radio, Film and Television (SARFT)
1.1.2 China Film Association
1.1.3 China Film Copyright Industry Association
1.2 Film Industry Chain
1.2.1 Industrial Chain
1.2.2 Major Links
1.2.3 Relevance of Upstream & Downstream Sectors
1.2.4 Film Box Office Revenue-Sharing Scheme in China
1.3 Related Concepts
1.3.1 Digital Film
1.3.2 3D Film
1.3.3 IMAX Film
1.3.4 Film Advertising
2 Film Industry Development in China
2.1 Development Environment
2.2.1 Position in the World
2.2.2 Operating Income
2.3 Status Quo
2.3.1 Box Office
2.3.2 Single Film Box Office
2.4.1 Seasonal Factor
2.4.3 Film Censorship
2.4.4 Brand Director
3 China’s Film Production Industry
3.1 Status Quo
3.1.1 Film Output
3.1.2 Investment & Financing
3.2 Competition Pattern
3.3 Huayi Brothers Media Corporation
3.3.3 Prospect & Strategies
3.4 China Film Group Corporation (CFGC)
3.4.2 Business Development
3.5 Shanghai Film Group Corporation
3.6 Beijing New Picture Film Co., Ltd
3.7 Poly-Huayi Media of China
3.8 Enlight Pictures
3.9 Orange Sky Zhihong TV & Film Production Co., Ltd
3.9.2 Representative Works
3.10 Beijing Perfect World Network Technology Co., Ltd
3.10.3 Prospect & Strategies
4 China’s Film Distribution Market
4.1.1 Distribution Patterns of Chinese Films
4.1.2 Distribution Mode
4.2 Market Competition Layout
4.3 CFGC Film Distribution and Exhibition Corporation
4.4 Huaxia Film Distribution Co., Ltd
4.5 Poly Bona Film Distribution Co., Ltd
4.6 XiYing & Huayi Film Distribution Co., Ltd
5 Cinema Circuits & Cinemas in China
5.1 Exhibition Market
5.1.1 Overview of Cinema Circuits
5.1.2 Competition of Cinema Circuits & Cinemas
5.1.3 Film Price Fluctuations
5.2 Status Quo of Cinema Construction
5.2.1 Cinema & Screen
5.2.2 Construction of 3D & IMAX Screen
5.2.3 Cinema Rank by Box Office
5.2.4 Cinema Management Companies
5.3 China Film Stellar Theater Chain
5.4 Wanda International Cinema
5.5 China Film South Cinema Circuit Co., Ltd
5.6 New Film Association
5.7 Shanghai United Circuit
5.8 GZ. JinYiZhuJiang Movie Circuit
5.9 Stellar International Cineplex
5.9.3 Prospect & Strategies
6 Film Industry Development Trend & Forecast
6.1 Comparison and Forecast of China’s and Japan’s Film Box Office
6.2 Cinema Construction Trend
6.2.1 Cinema Construction in Cities
6.2.2 Investment Value Rating of Cinema Construction in Key Cities
6.3 Film Derivative Market
6.3.1 Status Quo of Chinese Film Derivative Development
6.3.2 Overview of Foreign Film Derivative Market
6.3.3 Tendencies of Chinese Film Derivative Development
China’s Film Industry Value Chain
Classification of Film Distribution Companies in China
Classification of China’s Cinema Circuits
Development Mode and Profit Sharing of China’s Film Industry
China’s Film Box Office Sharing Proportion by Major Link
Box Office Percentages of China-produced Films and Imported Films, 2002-2010H1
Global Box Office Ranking, 2009
Operating Income Structure of China’s Film Industry, 2004-2009
Operating Income & Growth Rate of China’s Film Industry, 2004-2009
Revenue & Growth Rate of China’s Film Box Office, 2005-2010H1
China’s Top Ten Films by Revenue, 2009
China’s Top Ten Films by Box Office, 2010H1
Some Investment Events of China’s Film Industry, 2005-2009
Events of China’s Film & TV Production and Distribution Industry, 2009-2010
Mergers and Acquisitions in China’s Film Industry, 2004-2010
Monthly Box Office of China’s Films, Jan. 2009-Jul. 2010
China’s Top Ten Regions by Film Box Office, 2010H1
Films Directed by Zhang Yimou and Box Offices, 1999-2009
Films Directed by Feng Xiaogang and Box Offices, 1998-2010
New Directors and Their Works, 2006-2010
Film Output of China, 2003-2010H1
Film Production and Exhibition Number in China and the United States, 2009
New Investment Entities of China’s Film Production Industry, 2009
Box Office Percentage of China’s Film Production Companies, 2009
Operating Income, Net Income & Growth Rate of Huayi Brothers, 2006-2010H1
Operating Income Structure of Huayi Brothers, 2006-2010H1
Main Business Gross Margin and Integrated Gross Margin of Huayi Brothers, 2006-2010H1
Film Exhibition Plan of Huayi Brothers, 2010
Major Films that CFGC Participated Investment and Box Offices, 2009-2010H1
Major Films that Perfect World Picture Participated Investment and Box Offices, 2009
China’s Film Distribution Patterns
Box Office Percentage of China’s Film Distribution Companies, 2009
Market Share of China’s Film Distribution Industry, 2007-2009
Imported Films (Box Office over RMB10 Million) that CFGC Distributed or Participated Distribution, 2009
China’s Cinema Classifications by Box Office, 2007-2009
China’s Top Ten Cinemas & Market Shares, 2009
China’s Top Ten Cinema Circuits by Box Office, 2010H1
China’s Average Film Ticket Price, 2006-2010H1
China’s Cinema and Screen Number, 2002-2010H1
Screen Number Owned by per Million People in China, the United States, Japan and South Korea, 2009
3D Screen Construction in China, 2007-2010
IMAX Commercial Cinema Construction in China
China’s Top Ten Cinemas by Box Office, 2009
China’s Top Ten Cinemas by Box Office, 2010H1
Cinema and Screen Number of China Cinema Investment and Management Companies
China Film Stellar Box Office & Cinema Number, 2002-2010H1
Wanda’s Top Five Cinemas, 2009
Box Office & Growth Rate of China Film South Cinema Circuit Co., Ltd, 2005-2010H1
Operating Income & Net Income of Stellar International Cineplex, 2005-2009
China’s and Japan’s Domestic Film Box Office & Growth Rate, 2005-2013E
Comparison of Total Film Audience Times in China and Japan, 2005-2009
Film Box Office in Major Cities, China, 2009
Film Box Office & Growth Rate in Beijing, Chengdu and Xi’an, 2007-2009
Ratios of Cinema and Screen Number in Major Cities to China’s Total, 2009
Parameters of Assessment Model
Parameter Data of the Standardized Assessment Model
Parameter Weight of Assessment Model
Indices of China’s Urban Cinema Investment Evaluation, 2010
China’s Film Capital Recovery Channels
Capital Recovery before Exhibiting Harry Potter and the Philosopher's Stone
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