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For the first time ever, China has supplanted North America as the world’s largest film market. Still, no country has been spared as global box office revenues have likely fallen by more than 72%, including a 70% drop in the Middle Empire.
It’s official: North American box office revenues fell 80% in 2020 amid the novel coronavirus pandemic and unprecedented theater closings, while global revenues fell more than 70%.
As expected, domestic movie tickets sold between Jan.1 and Dec.31 generated around $ 2.3 billion (or $ 2.68 billion) compared to $ 11.4 billion in 2019, according to Comscore estimates. . This is the lowest result for at least 40 years. The dramatic fall was expected, given that many theaters have been closed for more than nine months in the United States
Globally, movie ticket sales in 2020 are expected to be between $ 11.5 billion and $ 12 billion, up from $ 42.5 billion in 2019.
China initially supplanted North America as the global cinema market in 2020, generating around $ 2.7 billion in ticket sales, per Comscore.
In another premiere, a Chinese film – the epic of WWII The eight hundred – at the top of the world box office ranking with nearly 440 million dollars. A number of other Chinese films, including My people, my homeland, populated the upper part of the graph, just like the success of Japan Demon slayer. In a non-pandemic period, Hollywood blockbusters generally dominate.
No country has been spared the impact of the virus, however. The Chinese box office was still down 70% from transporting around $ 9 billion in 2019, even though it rebounded faster than the United States and much of Europe.
Hollywood’s biggest global income in 2020 was Sony Bad boys for life, which opened in mid-January on the verge of generating $ 413 million in revenue, according to Comscore. Sam Mendes’ 1917, which opened nationwide on January 10, grossed around $ 385 million. Christopher Nolan’s Principle – the first Hollywood tent pole to run the big screen opening amid the pandemic – reached an estimated $ 362 million globally after launching in late summer.
The vast majority of Hollywood tent poles in 2020 were carried over to 2021 and beyond, or sent / sold to streamers – Hollywood’s next big frontier.
COVID-19 has marked a judgmental moment for studios and exhibitors, and is changing the once sacrosanct theatrical showcase.
WarnerMedia, whose empire includes Warner Bros., opens its 2021 movies day and date on HBO Max and in theaters, just like Wonder Woman 1984 made at Christmas. And Universal has a landmark deal with major movie chains that will make its titles available on premium VOD 17 days or more after they open in theaters.
“The film industry will undoubtedly be changed forever, but theaters will be ready for their close-up and, as things slowly return to a semblance of normal, they will play their own uplifting sequel,” says Paul Dergarabedian of Comscore. “2021 will be arguably the most important year in the history of the big screen, and the one that bridges the gap between a devastating 2020 that has tragically affected so many people and has had such a profound impact on many physical businesses.”
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