It looks like the box office of China is working just opposite the way stock markets of the nation are acting up. With high revenues, China box office has done well in January 2016.
According to a report by Hollywood Reporter, the China box office revenue was recorded at $583.4 million in the first month of 2016. Surprisingly, the month of January is comparatively slow for movie going. However, this January saw a 47.2 percent increase compared to January 2015.
The website noted that the increase in the China box office revenue indicates that Hollywood studios are generating more revenue from China. However, another factor to be noted is that the market share for Hollywood has dropped to 38.4 percent. In 2014, the share was 45.5 percent.
On Jan. 9, 2016, the China box office welcomed "Star Wars: The Force Awakens" and till Tuesday, the blockbuster movie made $123 million. Meanwhile, it is less than a local action-comedy movie titled "Detective Chinatown" which made $123.6 million in China. "Detective Chinatown" is set in Thailand and produced by Heyi Pictures (Youku Tudou) and Wanda Media.
Other movies from the west that did well in January are "The Last Witch Hunter" that had grossed $25.6 million while "The Walk" made $12.6 million, James Bond movie "Solace" made $5.3 million and "Alvin and the Chipmunks" had grossed $5.7 million.
For the month February, Hollywood would hope "Kung Fu Panda 3" to do wonders. On Jan. 29, 2016, "Kung Fu Panda 3" opened in China and made $73.6 million till Tuesday.
"Jack Black returns as the voice of lovable martial-artist panda Po in the third adventure in this animated series. Po reunites with his long-lost father Li (Bryan Cranston), and the pair travel to a secret panda sanctuary. There, they must work together to defeat a new enemy: a powerful yak (J.K. Simmons) who grows stronger by stealing the life force of other warriors. Angelina Jolie, Dustin Hoffman, Seth Rogen, Jackie Chan, Lucy Liu, David Cross, and Kate Hudson also lend their voices to this animated comedy," reads the synopsis of "Kung Fu Panda 3" (via Fandango).
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Watch the movie trailer of "Kung Fu Panda 3" below.
Credit: YouTube/DreamWorksTV
