China’s film industry continues its remarkable recovery in 2023, with the box office surpassing 50 billion yuan ($6.85 billion) to date. While the domestic film market accounts for the majority of this revenue, Hollywood is gearing up for a resurgence in the Chinese market.
Despite the unlikelihood of reaching the pre-pandemic 2019 box office record of 64 billion yuan, the Chinese film market is on a path of quick recovery and expansion. The top 10 films of 2023 are all domestic productions, indicating the strength of homegrown cinema.
However, Hollywood remains a formidable contender with several highly anticipated releases scheduled for the coming months. These films are well-known to Chinese audiences, potentially capturing their attention and benefiting both markets.
Lionsgate’s “The Hunger Games: Songbird and the Snake” is set for a global premiere on November 17. The Hunger Games franchise previously resonated with Chinese audiences, offering a compelling storyline and exceptional performances.
Disney’s new film, “Wish,” featuring popular actress Liu Yifei in the Chinese dub, debuts on November 22 in North America and November 24 in China. Liu Yifei’s star power may contribute to the film’s success among Chinese viewers.
On December 8, Warner Bros and Heyday Films release “Wonka,” the prequel to “Charlie and the Chocolate Factory.” The film’s solid reputation, despite not being released in China previously, makes it well-known to Chinese moviegoers. Additionally, lead actor Timothee Chalamet has garnered a substantial Chinese fan base.
Warner Bros and DC’s sequel, “Aquaman and the Lost Kingdom,” is slated for release on December 20. The first installment of “Aquaman” grossed over 2.13 billion yuan in China, making it a highly anticipated follow-up.
Despite Hollywood’s efforts, the Chinese audience’s interest in American superhero movies has waned since the release of “Avengers: Endgame” in 2019. The oversaturation of superhero films and the impact of the global pandemic have contributed to this decline, as seen in the underwhelming performances of “Black Panther: Wakanda Forever” and “Ant-Man and the Wasp: Quantumania.”
To succeed in the Chinese market, Hollywood may need to focus on producing original stories that resonate with Chinese audiences. Films like Warner Bros’ “Barbie,” addressing women and their social anxieties, and Christopher Nolan’s “Oppenheimer,” set against the backdrop of World War II, have found success by connecting with Chinese viewers.
This trend suggests that foreign-language films can thrive in China when they resonate with the audience’s interests and values. While the Chinese film industry continues to grow in confidence, Hollywood remains a significant contributor to the foreign-language film market in China.
Cooperation between these two major film markets, as seen in co-productions like “Meg 2: The Trench,” can be a win-win strategy. Such collaborations promote cultural exchange and offer opportunities for both industries to thrive in an increasingly globalized film landscape.
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