Chinese studios bounced back with force in their home market, but revenue for imported Hollywood movies remained down by 70 percent compared to the year before the pandemic.
Worse still for the U.S. industry, Hollywood’s foothold in China’s huge and rapidly recovering marketplace continued to erode over the past year. U.S. movies accounted for just 12 percent of China’s total box office sales, or $899 million , down from a 30 percent share in 2019 and total sales of $2.8 billion .
During much of the China box office boom era of the late 2000s and 2010s, the Hollywood studios saw their revenue grow in China every year, while they commanded an annual market shares as high as 30 percent to 50 percent. The foremost problem for Hollywood in China in 2021 was simply a dearth of product hitting local screens, analysts say. Just 20 revenue-sharing U.S. titles were released in Chinese cinemas last year, compared to 31 U.S. tentpole releases in 2019 .
Hollywood’s own pandemic-related release postponements were the chief hinderance for the studios in the first half of the year, but by summer their distribution pipelines were pumping again. By then, however, local politics surrounding the 100th anniversary of the Chinese Communist Party dictated that Beijing regulators would leave American product on the shelf in favor of patriotically themed Chinese fare.
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