Tuesday, September 21, 2021

CHINA ACCELERATES PLAN TO BECOME WORLD’S BIGGEST MOVIE MARKET

September 10, 2014 by · Leave a Comment 

In just a few years the number of Chinese movie theaters has soared to 22,000, a figure that is likely to triple within a few years, Legendary East CEO Peter Loehr told a news conference at the Toronto Film Festival on Tuesday. He predicted that the country’s theatrical box office will hit $5 billion this year, about half the size of the U.S.-Canada domestic box office. "Screens are being built every single day. The audience is demanding the screens and the audience is going up," Loehr said. In January, Legendary East is scheduled to start production of the big-budget/special effects production The Great Wall, directed by Zhang Yimou. Noting that Zhang directed the massive production for the opening and closing ceremonies of the summer Olympics two years ago, Loehr said, "Zhang Yimou is a master at what he does and the scale of what he does is very well utilized on this movie." A release date for the movie has not yet been set.