American television shows have found a potential goldmine in Youku Tudou, China's biggest online video outlet. Film and television viewing has grown exponentially in China over the past year alone; web surfing from mobile devices has risen twenty percent in twelve months, while online video viewing percentages have doubled in a mere six months. The most viewed content, writes The Hollywood Reporter, is American film and television.
Youku Tudou was formed last year when Youku and Tudou, two of China's largest video providers, merged to edge out competition. The site attracted 14 million unique daily views by June of this year.
With rapidly expanding audiences, predicting solid figures in the future is impossible, but as of right now American shows like The Walking Dead are attracting massive popularity in China.
Check out the full story at Hollywood Reporter.
Lethal Hostage wins best picture, other crime thrillers lead at the 13th China Film Media Awards. [Film Business Asia]
Chinese exhibitor UME International Cineplex has signed another deal with RealD to bring 50 more 3D screens to locations across China. [Hollywood Reporter]
The Chinese film renaissance; how China is expanding cinemas, film subjects. [China Daily]
BEIJING & LOS ANGELES -- Global 3D and visual technology licensor RealD Inc. (NYS: RLD) and UME International Cineplex announced today an agreement to install RealD 3D technology on an additional 50 cinema screens across UME International Cineplex's Northern China locations. Combined with the 50 current RealD 3D installations at UME International Cineplex's Southern China locations, UME International Cineplex will have a total of 100 RealD 3D equipped screens across its circuit. Under the terms of the expanded agreement, RealD becomes the exclusive circuit wide 3D technology provider for UME International Cineplex. Installations of RealD 3D technology at UME International Cineplex's Northern China locations have already begun.
"Currently, the world's brightest 3D projection technology is provided by RealD. UME International Cineplex Group will exclusively use the latest 3D technology of RealD. Among Chinese moviegoers, there is a tremendous demand for 3D movies, and there are more and more 3D movies being made and released. I believe RealD will have great prospects in China," said See-Yuen Ng, founder and chairman of UME International Cineplex.
"It is exciting to see UME's continued development in the China cinema market and RealD is honored to be a part of it," said Edman Chan, RealD's Vice President and General Manager, Cinema, Asia Pacific. "Together, we will deliver the bright, lifelike and immersive visual experience for the viewing audience that has become synonymous with RealD 3D."
Since opening their first cinema in 2002, UME International Cineplex has been dedicated to delivering the ultimate movie experience to Chinese audiences. By the end of 2013, UME International Cineplex expects to be operating 22 cinemas, 253 screens and 31,700 seats, with box office revenues estimated to exceed 600 million RMB.
RealD 3D is currently available on approximately 1,300 cinema screens in China with future commitments for approximately 1,000 additional installations for a total of approximately 2,300 screens.
The world's most widely used 3D cinema technology, RealD 3D is installed in approximately 23,500 auditoriums by approximately 1,000 exhibitors in 74 countries around the world (as of June 30, 2013).
Universal reports the reformatted edition of Jurassic Park took in $6.64 million in its opening day in China on Tuesday. That figure is the fourth highest opening day of the year for a U.S. release in the market, behind Iron Man 3 ($19.1M), Pacific Rim ($8.6M), and Fast 6 ($8.3M). Jurassic Park 3D posted a better opening day performance than Man of Steel ($6.2M) and The Hobbit ($5.6M). China has been a graceful home for 3D conversions of past hits, Titanic 3D opened to $11.2 million in 2010. Film Business Asia is reporting that the big opening comes from occupying one third of the market's screens, a factor that should equate to cuts in box office revenue across the board.
EntGroup, a Beijing-based data provider, recently released their annual report on the Chinese film industry. Key takeaways include:
- By 2013, 3D screens will account for 80% of all screens in China.
- The report projects that the number of IMAX screens will reach 150 in 2013
- A majority of Chinese moviegoers in 2012 were young people aged 25 to 35. 88.8% have received a college education or higher. Film genre is indicated to be the decisive factor for audiences to see a movie in a theater. Action, comedy, sci-fi, and romance rank as the top 4 film genres. Of all people surveyed, 72.2% watched movies on smartphones and tablets.
- More and more Chinese audiences are watching films online and on mobile devices. As of the end of 2012, the number of Chinese online film viewers reached 372 million, an increase of 14.3%. In addition, 100 million Chinese users stream content on mobile phones.
Revenues from licensing films to new media platforms in 2012 were $78.7 million, an increase of 55%, nearly reaching that of TV sales, which are currently the largest revenue stream outside of box office proceeds.