China

CHINA: 'Fast 6' Posts Second Highest Opening Weekend of a Hollywood Film in 2013 on July 30, 2013

Fast6.jpgFast 6 crossed the $500 million mark at the overseas box office after a $24 million opening weekend in China. $3 million of the take came from IMAX screens as the sixth installment in the Fast franchise became Universal's highest opening of all time in the market. Fast & Furious 6 scored the second-highest opening weekend for a non-Chinese release in 2013, only trailing Iron Man 3. The $503 million overseas total is a major milestone for Fast & Furious 6, the highest grossing film in the franchise and the first to reach the half-billion mark outside of North America.

White House Down opened early on in the week and went on to score a healthy $18.7 million take after its first week in release. Roland Emmerich's second go at trashing the White House has struggled worldwide, including a disappointing $70 million run in North America. South Korea ($3.5M) and Russia ($3.4M) are the other top performers for the film outside of China. White House Down has grossed $116.2 million globally.

The two Hollywood new releases in the market put a dent in After Earth's strong Chinese run. The M Night Shyamalan film tumbled down to fifth place on the chart with a $3.14 million take in its third week. A $240 million worldwide total for the Will Smith father-son vehicle isn't up to Sony's original expectations but can't be considered a total disaster considering the film's poor $59 million run in North America. China is the most significant market for After Earth by a wide margin, responsible for $33.8 million of its $182 million overseas total. Other top performers for After Earth include Russia ($17M), Mexico ($13.7M), and France ($10.4M).

Top Ten Films in China. 

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Data Courtesy of EntGroup.

Follow Daniel Loria and BoxOffice on Twitter for more news on the global box office.

 

UPDATED: 'Fast & Furious 6' Earns $34M From 4 Days in China on July 27, 2013

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Tuesday Update: Revised numbers from Entgroup indicate that Fast 6 has taken in a whopping $34 million from Friday-Monday in China. A source in China tells BoxOffice the figure is significantly higher than originally estimated due to a delay in reported grosses from one of the country's top theater chains. 

Sunday Update #2: Official word from Universal is estimating the final weekend tally for Fast 6 to close out at $24 million. It marks the second highest opening of the year for a Hollywood film in China behind Iron Man 3. China is the last territory in the theatrical run of Fast 6. The market is responsible for helping the film cross the half-billion overseas mark and reach a global cume that currently stands at $741.1 million. 

Sunday Update: A slower Saturday increase than expected has Fast 6 looking at a $25 million opening weekend in China. Early estimates suggested the action flick could reach the $29 million mark after posting Universal's biggest opening day in the market. A modest increase over Saturday, however, is revising that figure to the $25 million range. 

Sources also tell BoxOffice that White House Down will finish its seven-day opening week run in China at an estimated $19 million, a welcome tally for the troubled Sony release. The studio has also benefited from the Chinese market to boost the overseas performance of After Earth, which is expected to finish third weekend in China with a $33.2 million cume 

Saturday Update: Sources tell BoxOffice that Fast & Furious 6 managed roughly $7.9 million (48.5 million yuan) on its first day of release in China. That puts F&F6 behind only Iron Man 3's opening day haul of $20 million (121 million yuan) on the list of 2013's best opening days for Hollywood films in China. F&F 6's opening day is also the strongest Universal has ever had in the Middle Kingdom, easily topping the $3 million (18.5 million yuan) opening day of 2012's Battleship. Projections indicate that F&F 6 could end up with $29.4 million (180 million yuan) after 3 days of release in China. 

F&F 6's first day ranks 5th overall this year behind Iron Man 3, Journey to the West, Tiny Times and The Switch

Wednesday Update: If Fast & Furious 6's theatrical run were to end today, its $712.8 million global haul would still be viewed as a massive success.

But Fast & Furious 6's run is not over yet. Far from it. Universal's juggernaut will open in China, the world's second-largest theatrical market, on July 26. This release will be particularly important for Universal following the confusing rejection of Despicable Me 2 by government officials in China. 

Sources tell BoxOffice that Fast & Furious 6 could end up with $70 million in China even though rampant piracy--a problem that also hurt such blockbusters as Inception and Skyfall--is likely to hinder the film slightly. A $70 million haul in China would help Fast & Furious 6 hit $800 million globally, and it would also mark a sizable improvement over 2011's Fast Five's $40.5 million haul in the Middle Kingdom. 

A wild card for Fast & Furious 6 comes in the form of co-star Dwayne Johnson. Johnson has quite the following in China. 2012's Journey 2: The Mysterious Island roped in a healthy $59 million there, while earlier this year G.I. Joe: Retaliation posted a strong $54 million take. 

The global growth from Fast Five to Fast & Furious 6 is staggering. Fast Five revived the property by taking in $628.6 million, and now Fast 6 is running 14.2 percent ahead of it. Universal may not have a superhero franchise like Warner Bros. or Disney, but they've effectively turned the Fast and Furious films into something just as strong. The question now is whether or not Fast 7 can join the club of films that have grossed $1 billion worldwide. We certainly aren't ruling that out.

Logan Krum contributed to this article. 

'White House Down' Off To Solid Start In China on July 25, 2013

Sources tell BoxOffice that White House Down has grossed an estimated $10.5 million after three days of release in China. That's a healthy start for the action flick, but it will soon face tough competition from Fast & Furious 6 (opening July 26) and Pacific Rim (opening July 31). Chinese officials have once again decided to bunch together Hollywood flicks in a short period time. Many pundits conclude that the tactic is designed to hinder American films and ensure the success of Chinese efforts. If that's the case, it's working. Chinese films account for more than 60% of the total box office in 2013. 

Official numbers will be released earlier next week. 

Deals with Wanda and AMC Include Minimum of 40 and up to 120 New IMAX® Theatres Across China and U.S. Wanda and AMC Extend IMAX Lease Terms on July 25, 2013

NEW YORK and BEIJING -- IMAX Corporation (NYSE:IMAX; TSX:IMX) and Wanda Cinema Line Corporation, Asia's largest cinema owner, today announced an amendment to the parties' original 2011 joint revenue share agreement with the addition of a minimum of 40 and up to 120 new IMAX® theatres to be located throughout China. The deal also extends Wanda's lease terms for all new theatres to 12 years from 10 years and brings Wanda's total IMAX commitment in China to up to 210 theaters, positioning Wanda Cinema Line as IMAX's largest international exhibition partner.

In addition, IMAX and AMC Theatres, a wholly owned subsidiary of Wanda Group, signed an agreement to extend AMC's lease terms for all new and existing theatres to 13 years from 10 years and install a minimum of five and up to 10 new IMAX theatres in the U.S. Today's agreement brings AMC's total IMAX commitment to up to 152 theatres, making them the largest IMAX exhibition partner in North America.

"We have developed great partnerships with Wanda and AMC during the last decade and we're excited that the combination of two of our strongest partners has allowed us to advance our relationships to the next level," said IMAX CEO Richard L. Gelfond. "The Wanda and AMC IMAX network continues to flourish and today's agreement underscores their ongoing confidence in IMAX to strengthen their businesses by delivering to audiences the industry's best cinematic experience."

Wanda Cinema Line was one of IMAX's first exhibition partners in China, opening a theatre in Dongguan in 2007. Building on the success of its existing IMAX theatres, the parties signed a 75-theatre joint venture agreement in 2011 that represented IMAX's first full revenue-sharing deal in China. In 2012, Wanda Group acquired AMC Theatres, IMAX's first and largest North American commercial exhibition partner, creating the world's largest cinema owner as well as the largest operator of IMAX theatres.

"Our IMAX theatres have been showing strong performance while Wanda Cinema Line is constantly developing. We're delighted to build on our successful partnership that continues to differentiate our cineplex by offering a premium entertainment experience," said Jerry Ye, Vice President of Wanda Cultural Group, a subsidiary of Wanda Group.

"Week after week, AMC guests are choosing to see their Hollywood blockbusters in an IMAX auditorium," said Gerry Lopez, CEO and President of AMC. "As AMC continues to deliver the premiere experience in moviegoing, expanding our partnership with IMAX fits in perfectly with our strategy to provide the best options to even more of our guests."

"Wanda and AMC are two of the best IMAX theatre operators in the world," said Gelfond. "Their commitment to quality, innovation and building the IMAX brand means that we're not just adding more theatres, we're delivering IMAX audiences top-notch theatres with strong operations that help to differentiate The IMAX Experience®."

Under the terms of the agreement with Wanda Cinema Line, 80 of the potential 120 IMAX theatres are predicated on the successful development of IMAX's next-generation laser projection system. Upon Wanda Cinema Line's commitment to the 80 additional IMAX theatres, the lease terms for all Wanda IMAX theatres - including their existing theatres - will convert to 12 years. In addition, they may elect to install IMAX's laser projection in a portion of all Wanda IMAX theatres, making them the first exhibitor to bring IMAX's groundbreaking laser technology to Asia.

With today's agreement, there are now up to 381 IMAX theatres open or contracted to open in China.

 

TODAY'S HEADLINES: Several Chinese Films to Hit North America in Coming Months on July 25, 2013

drug_war.jpgThe next two months will see several Chinese films releasing to North American cinemas. [Film Business Asia]

Hollywood skeptical of China's relaxed censorship rules. [Hollywood Reporter

Tiny Times director Guo Jingming defends film, says it depicts New China culture. [Variety]

Interview with Hong Kong director Johnnie To about upcoming North American release Drug War. [Twitch]

 


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