China movie box office revenue to reach 78b yuan by 2021:Nomura

2019-01-14
China's movie box office income is expected to see an average annual increase of 9 percent by 2021,a Nomura report showed .

The country's movie box office revenue(总收入) could hit 78 billion yuan in 2021,according to the Nomura report .

"Improving content quality and ongoing theater expansions are the key growth drivers , with the former improving viewership and the latter broadening the addressable movie market "said the report .

The growth of online video platforms could negatively impact the movie sector, similar to what Nomura noted in North America, according to the report .

Movie admissions in North America have declining party due to the expansion of online video platforms such as Netflix.

However , Nomura said it believes China's movie sector is likely to fare much better as there is still room to penetrate the market

China's movie box office revenue (总收入) rose 9 percent in 2018 to 60,98 billion yuan,data from the State Film Administration showed .