LATEST HEADLINES: Box office reaches new records in South Korea, slows in Hong Kong on July 05, 2013
The first half of 2013 sets new record high in South Korean box office. [Screen Daily]
Meanwhile, box office growth in Hong Kong continues to expand, but at a much slower rate. [Film Business Asia]
Founder and CEO of Bona Film Group Yu Dong buys stock despite slanting figures. [Hollywood Reporter]
Keanu Reeves' directing debut 'Man Of Tai Chi' launched on July 4 to the big screen and the even bigger IMAX screen. [Variety]
CHINA: 'Tiny Times' is Big Business, Defeats 'Man of Steel' on July 02, 2013
Tiny Times had a big weekend in China. The domestic film scored the largest opening day in the country's box office history on its way to a four-day $42.76 million total. Tiny Times doubled the weekly gross of Man of Steel's first full week of release.
Chinese films have been having more success with local audiences, tapping into a diversity of genres and paying attention to different demographics. China Daily reports that 117 of the 146 films in China screened this year have been domestic productions, with foreign ticket sales falling 26.8% in the first half of the year.
This hasn't overshadowed the performance of Hollywood hits in China. Iron Man 3 co-existed with domestic hit So Young during a blockbuster run for both films. Man of Steel survived early heat from action thriller Switch in its opening weekend and still managed to gross $21.14 million in a week dominated by Tiny Times. Tiny Times is the first of a four part series targeted at a teenage female demographic. The Chinese film nearly matched Man of Steel's China cume in four days.
Badges of Fury also took a back seat to Tiny Times, falling to third place with an $18.3 million weekly take. The biggest drop of the weekend came from Switch, coming out of its third week in release with a paltry $420k sum. Switch has earned a total of $46.82 million in China, but its nearly unanimous negative reception by critics looks to have hurt its long-term viability at the Chinese box office. China is one of those markets where a film can find legs and survive, as was the case for the record-setting performance of last year's Lost in Thailand or this year's Seeking Mr. Right.
Weekly Box Office Results for China.
Data Courtesy of EntGroup.
LATEST HEADLINES: Nakata Hideo to remake 'Haunters' on July 02, 2013
Today, a trailer was released for Kiyosu Kaigi,
writer-director Mitani Koki's upcoming period set film adapted from his own
Actress Chen Chen will receive a Lifetime Achievement Award at 50th Golden Horse Awards on November 23, 2013. [FilmBiz]
Nakata Hideo to direct "Monster", remake of Korean chiller "Haunters." [Variety]
CHINA: 2013's Box Office Increases 27% Thanks To Strong Domestic Films, Hollywood Dominance Slows on July 02, 2013
A study released by EntGroup reveals that China's overall box office has reached 10.3 billion yuan ($1.68 billion) as of June 23. That marks an impressive 27 percent increase over 2012 at the same point in the year. Chinese films are responsible for 6.47 billion yuan, which gives them an impressive 63 percent market share. In 2012, domestic films accounted for 2.9 billion yuan and a paltry 10% market share at this point in the year.
146 films were screened in China during the first six months of the year, and 117 of them were home-grown products.
"Ever since the huge success of the low-budget comedy Lost in Thailand, which was released in December, Chinese viewers' enthusiasm and expectations for domestic film productions have jumped," Huang Ting, industry analyst with EntGroup, tells China Daily.
'Tiny Times' Posts Biggest Opening Day in Chinese History on June 28, 2013
Tiny Times is the new opening day champion in Chinese box office history. The film is the first entry in director Guo Jingming's adaptation of his own book series, a four part saga targeting a young female demographic in China. Tiny Times grossed $11.88 million its Chinese debut, according to a social media post from distributor Le Vision Pictures Co Ltd. Film Business Asia is reporting that the next installment of the Tiny Times series is scheduled for release in China later this year.