Exporting Entertainment to China and Asia-Pacific: It’s a Wrap!April 25, 2013
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Andrea DaSilva is the Senior Media & Entertainment Analyst for the International Trade Administration.
The Hong Kong Trade Development Council recently hosted Filmart, the third largest film industry trade show after Cannes and American Film Market in Santa Monica, Cali.
U.S. exhibitors secured film licensing and distribution deals to the tune of $8 million and counting, supporting American exports and bringing some of our most creative exports to new audiences.
U.S. Secured 175 Licensing Deals Worth $8 Million
The International Trade Administration and the Independent Film and Television Alliance co-sponsored the American Pavilion as part of the Market Development Cooperator Program, with cooperation from the Pacific Bridge Initiative.
Buyers from around the region came to purchase U.S. filmed entertainment, which is nothing new; American movies continue to be in high demand globally. China’s State Administration of Radio, Film, and Television reports that seven of the top ten films in China last year were American.
Hong Kong Filmart provides an ideal gateway to reach China and Southeast Asia, especially for small and independent businesses based in the United States who can’t afford to hang their shingle in China.
China’s Film Industry – Expanding Rapidly
China’s entertainment market is growing, and with it demand for new content. Hollywood studios and small producers alike are increasingly partnering with Chinese industry or governmental bodies to bring U.S. films to the Chinese market.
Production houses like Dreamworks, Marvel Comics, Warner Brothers, Relativity Media, and Legendary Pictures, to mention a few, all have joint projects with Chinese partners and their presence in China is contributing to the development of the country’s film and animation industries, while also increasing U.S. exports. It’s a dramatic shift from past decades when the doors were closed for business; the U.S. industry has a solid foot in the door today.
China’s Box Office – Exploding
China boasts the second-largest box office revenues worldwide at $2.7 billion in 2012, a 30.2 percent increase over 2011. Foreign films accounted for 52.4 percent of box office ticket sales in the country last year, but constituted only about a quarter of the 303 movies screened in Chinese theaters.
These exports aren’t just good for the film industry, they help support one of our most creative industries and help support American jobs.