The movie industry in China is growing at such a blistering pace that it’s difficult to comprehend, much less keep up with. But Hollywood and American moviegoers should try, because China won’t be the world’s second-largest movie market for long.
Revenue from the Chinese box office hit $3.3 billion in the first half of 2015, up a staggering 50 percent over the same period last year. It could go as high as $7 billion by year’s end, or roughly two-thirds of what the U.S. film industry generated last year.
It doesn’t take a math genius, or an abacus, to figure out that those numbers and that growth rate signal that China is on the verge of overtaking the U.S. as the top movie market in the world. Nearly 30 new theaters are opening in China every day, the nation’s State Administration of Press, Publication, Radio, Film and Television recently announced.
It’s easy to be seduced by headlines trumpeting the success of American films like “Minions” and Tom Cruise‘s “Mission: Impossible – Rogue Nation” in China. But don’t forget the studios’ cut of those grosses is about half of what they get in the U.S.
And this summer has seen significant developments behind the Great Wall that deserve at least as much attention, including:
“Monster Hunt”
1. China Seized the Summer Without Hollywood Hits In the past, movie attendance typically plunged when the Beijing government instituted its roughly two-month-long summer ban on foreign films to boost local productions.
But this year, homegrown hits like the blockbuster “Monster Hunt,” “The Monkey King: Hero Is Back” and “Pancake Man” propelled the Chinese box office to its biggest weekend, week and July ever at nearly $900 million. All without American-made blockbusters as competition.
2. The Stars Are Realigning Bruce Willis recently signed on for the big-budget Chinese-language World War II epic “The Bombing.” Matt Damon just wrapped “Great Wall,” a $150 million monster movie from Universal, Legendary Pictures, China Film and Le Vision, the largest U.S.-Chinese co-production ever.
Whether it’s yuan or dollars, money talks and Hollywood studios should brace for increased competition and higher costs for top-tier talent.
3. China Is Tooning Up Disney, Pixar, DreamWorks Animation and Fox have enabled the U.S. to dominate that kiddie market with cartoons for decades. But this summer, China’s “The Monkey King: Hero Is Back” passed DWA’s “Kung Fu Panda 2” to become the country’s highest-grossing animated film ever, and the CGI/live-action film “Monster Hunt” topped “Furious 7” as its top-grossing movie ever.
With Sony and DWA vets Sandra Rabins and Penney Finkelman Cox leading the way, China’s Original Force Animation has moved into Hollywood to make feature films. American domination of animation won’t end tomorrow, but U.S. companies no longer have the field to themselves.
4. Audiences Are Flipping Over Native Superheroes Animation is one thing, but nobody does superheroes like Marvel and DC, which have generated tens of billions of dollars for Disney, Warner Bros., Sony and Fox. But again, that’s without any real competition.
But this summer, China not only made a superhero movie in “Pancake Man” but recast it as a silly comedy that poked fun at the U.S.-dominated genre — and cast Jean-Claude Van Damme as a villain. The film was a smash, generating more than $140 million. Is nothing sacred?
5. Beijing Financial Woes Could Panic U.S. Investors Both countries’ economic experts agree that China’s film biz is largely insulated from the country’s current fiscal woes, but U.S. firms that are heavily invested there have taken a hit — IMAX stock has dropped roughly 26 percent since China’s crisis began.
MKM Partners sounded mystified when it dropped its share-price target for the giant-screen goliath “despite clear evidence … the market is robust and has strengthened.” If fear trumps reason and more wary American investors react the same way, it will be trouble for China’s partners, which include every major studio.
51 Fall Movies on Our Radar: From 'Black Mass' to 'The Revenant' (Photos)
"Pawn Sacrifice" - Sept. 16 The movie follows chess champion Bobby Fischer (Tobey Maguire) who prepares for his game against Russian Boris Spassky (Liev Schreiber).
Bleecker Street
"Black Mass" - Sept. 18 Starring Johnny Depp, Joel Edgerton, Benedict Cumberbatch, Dakota Johnson and Corey Stoll, the film follows the true story of Whitey Bulger, one of the most notorious criminals in U.S. history.
Warner Bros.
"Everest" - Sept. 18 Mountain climbers on Mt. Everest are stuck in a severe, dangerous snowstorm in this drama starring Jake Gyllenhaal, Keira Knightley and Robin Wright.
Universal
"Maze Runner: The Scorch Trials" - Sept. 18 After escaping the Maze, the group now needs to face challenges on the open road with new obstacles.
Fox
"Sicario" - Sept. 18 An FBI agent is enlisted by an elected government task force to help in the war against drugs at the border between the U.S. and Mexico. The film stars Emily Blunt, Jon Bernthal, Josh Brolin and Benicio del Toro.
Lionsgate
"99 Homes" - Sept. 25 Andrew Garfield stars as a young father who struggles to get back his home after a recession-induced eviction.
Broad Green Pictures
"Stonewall" - Sept. 25 Jeremy Irvine stars as a young man who arrives in New York City in the late 1960s in time to experience first-hand the riots at the Stonewall Inn that kicked off the modern gay-rights movement. The film also stars Jonathan Rhys Meyers, Ron Perlman and Jonny Beauchamp.
Roadside Attraction
"The Intern" - Sept. 25 Anne Hathaway, Robert De Niro and Nat Wolff star in this touching comedy about a 70-year-old man interning at a fashion company.
Warner Bros.
"The Walk" - Sept. 30 Robert Zemeckis' 3D film follows the true story of French high-wire artist Philippe Petit (Joseph Gordon-Levitt), who attempted to walk across the Twin Towers of the World Trade Center in 1974.
Sony/Tristar
"Freeheld" - Oct. 2 In another fact-based drama set before the nationwide ruling for same-sex marriage, New Jersey cop Laurel Hester (Julianne Moore) and her domestic partner Stacie Andree (Ellen Page) struggle to secure Hester's pension benefits when she is diagnosed with terminal cancer. The movie also stars Steve Carell, Josh Charles and Michael Shannon.
Lionsgate
"The Martian" - Oct. 2 Starring Matt Damon, Kate Mara, Kristin Wiig, Jessica Chastain and Michael Pena, the sci-fi drama is about an astronaut presumed dead after a storm on Mars. But he is alive, and tries to find a way to send a signal to Earth.
20th Century Fox
"He Named Me Malala" - Oct. 2 A documentary that chronicles the events leading up to the Talibans' attack on young Pakistani girl, Malala Yousafzai, for speaking out on girls' education.
Fox Searchlight
"Pan" - Oct. 9 In the latest remake of "Peter Pan," an orphan (Levi Miller) goes to Neverland to become the hero named Peter Pan. Hugh Jackman, Cara Delevingne, Rooney Mara, Amanda Seyfried, Garrett Hedlund also star.
Warner Bros.
"Steve Jobs" - Oct. 9 Starring Michael Fassbender, Kate Winslet and Seth Rogen, the biopic follows the true life story of Apple pioneer Steve Jobs.
Universal
"Beasts of No Nation" - Oct. 16 Idris Elba headlines a drama about the experiences of child soldier Agu fighting a civil war in an unnamed west African country.
Netflix
"Bridge of Spies" - Oct. 16 During the Cold War, a U.S. lawyer (Tom Hanks) is recruited by the CIA to rescue a pilot captured in the Soviet Union.
Walt Disney Studios
"Crimson Peak" - Oct. 16 Writer-director Guillermo del Toro's latest feature has a Gothic setup: Following a family tragedy, an author (Mia Wasikowska) is swept away to a creepy house to be with her husband (Tom Hiddleston).
Universal
"Goosebumps" - Oct. 16 A kid teams up with the niece of R.L. Stine, the children's horror author, after demons are set free in Maryland.
Sony/Columbia
"Room" - Oct. 16 Brie Larson plays a mother who is locked in a room with her 5-year-old son until they escape and are forced to face the realities of the world.
A24
"Truth" - Oct. 16 The movie offers a closer look at news anchor Dan Rather (Robert Redford) in his final days at CBS News, after broadcasting a damaging story about President George W. Bush.
Sony Pictures Classics
"Burnt" - Oct. 23 Adam Jones (Bradley Cooper) destroyed his career as chef with drugs and divalike behavior. He cleans himself up and goes to London to spearhead a restaurant that can gain three Michelin stars.
Weinstein Company
"Rock the Kasbah" - Oct. 23 A music manager (Bill Murray) discovers a teenager with a powerful voice while on a music tour through Afghanistan, and takes her to Kabul to compete on the popular TV show "Afghan Star." The film also stars Bruce Willis, Zooey Deschanel, Kate Hudson, Dannie McBridge and Taylor Kinney.
Universal
"Suffragette" - Oct. 23 The film, whose cast includes Starring Meryl Streep, Carey Mulligan and Helena Bonham Carter, follows the early feminist movement in the U.K. as women struggled to earn the right to vote.
Focus
"Our Brand Is Crisis" - Oct. 30
Like "Freeheld," this film is based on a documentary. In this one, Sandra Bullock and Billy Bob Thornton play dueling American political campaign strategists hired by rivals in Bolivia's presidential election.
Warner Bros.
"Jem and the Holograms" - Oct. 23 A small-town girl (Audrey Peeples) becomes a global superstar, and embarks on a journey with her three sisters to discover that some talents are too good to be hidden.
Universal
"Scouts Guide to the Zombie Apocalypse" - Oct. 30 Three scouts have to save the world from a zombie outbreak on the eve of their last camp-out.
Paramount
"Brooklyn" - Nov. 6 Saoirse Ronan stars in a drama set in the 1950s Ireland and New York, as her character Ellis Lacey is torn between two men and two countries.
Fox Searchlight
"Spectre" - Nov. 6 In Daniel Craig's fourth movie as James Bond, a cryptic message sends 007 to uncover a sinister organization. Ralph Fiennes' M tries to keep the secret service alive, while Bond attempts to reveal the truth behind Spectre.
MGM
"Spotlight" - Nov. 6 Starring Rachel McAdams, Liev Schreiber, Michael Keaton and Mark Ruffalo, this drama tells the true story of how the Boston Globe uncovered a scandal of child molestation within the local Catholic archdiocese.
Open Road
"Trumbo" - Nov. 6 Bryan Cranston portrays successful Hollywood screenwriter Dalton Trumbo, who's accused of being a Communist in the 1940s and blacklisted by the film industry. Elle Fanning, Helen Mirren and Diane Lane also star.
Bleecker Street Media
"The Peanuts Movie" - Nov. 6 Snoopy goes on a mission to pursue his arch-nemesis, the Red Baron, while best friend Charlie Brown starts his own quest back home.
Fox
"Love the Coopers" - Nov. 13 Four generations of the Cooper family come together for a gathering, at which they discover new family bonds and the spirit of holidays. Olivia Wilde, Amanda Seyfried, Marisa Tomei, Ed Helms, Diane Keaton, Anthony Mackie and John Goodman are among those starring in the film.
"By the Sea" - Nov. 13 Angelina Jolie Pitt wrote, directed, and stars in this film with husband Brad Pitt about a couple who travel to a tranquil and picturesque seaside resort in 1970s France while their marriage is in apparent crisis.
Universal
"The 33" - Nov. 13 Patricia Riggen's film is based on the 2010 collapse of a Chilean gold and copper mine -- in which 33 miners were trapped for 69 days. The film stars Antonio Banderas, Cote de Pablo, Rodrigo Santoro, Gabriel Byrne and James Brolin.
Warner Bros.
"Carol" - Nov. 20 A department store clerk (Rooney Mara) falls for an older, married woman (Cate Blanchett) in Todd Haynes' romantic drama set in 1950s New York.
Weinstein Company
"Secret in Their Eyes" - Nov. 20 Julia Roberts, Chiwetel Ejiofor and Nicole Kidman star in a drama about an FBI agent (Roberts) who embarks on a long investigation for her daughter's killer.
STX Entertainment
"The Hunger Games: Mockingjay, Part 2" - Nov. 20 In the fifth and final movie of the franchise, Katniss Everdeen (Jennifer Lawrence) and her comrades in District 13 embark a full-on revolution against the Capitol.
Lionsgate
"Creed" - Nov. 25 Sylvester Stallone returns as Rocky Balboa, this time serving as trainer and mentor to Adonis Creed (Michael B. Jordan), the son of former enemy Apollo Creed.
Warner Bros.
"The Good Dinosaur" - Nov. 25 Pixar's movie about the epic journey into the world of dinosaurs features an Apatosaurus as he makes an unlikely friend: a human boy.
Walt Disney Pictures
"Victor Frankenstein" - Nov. 25 In this retelling of Mary Shelley's classic, Daniel Radcliffe's Igor takes center stage as we learn about his dark origins and how he became the assistant of scientist Victor Frankenstein (James McAvoy).
Fox
"The Danish Girl" - Nov. 27 Eddie Redmayne slips into the role of transgender pioneer Lili Elbe, who had what is considered the first successful gender reassignment surgery. Alicia Vikander and Amber Heard costar.
Focus
"I Saw the Light" - Nov. 27 The film, which chronicles the life and tragic death of Country singer Hank Williams, stars Tom Hiddleston, Elizabeth Olsen and Bradley Whitford.
Sony Pictures Classics
"In the Heart of the Sea" - Dec. 11 In Ron Howard's film, a 19th-century whaling ship is preyed upon by a sperm whale, which strands the crew at sea for 90 days. The film stars Chris Hemsworth, Tom Holland, Cillian Murphy and Benjamin Walker.
Warner Bros.
"Sisters" - Dec. 18 Amy Poehler and Tina Fey play two sisters who throw one last party before their parents sell the house where they grew up.
Universal
"Star Wars: The Force Awakens" - Dec. 18 The continuation of the "Star Wars" saga, set 30 years after "Return of the Jedi," stars Harrison Ford, Mark Hamill, Carrie Fischer, Adam Driver, John Boyega and Daisy Ridley.
Disney
"Concussion" - Dec. 25 Will Smith stars as Dr. Bennet Omalu, the neuropathologist who made the discovery of CTE, the football-related brain trauma. The film also features Alec Baldwin, Stephen Moyer and Luke Wilson.
Sony/Columbia
"Joy" - Dec. 25 Jennifer Lawrence and Bradley Cooper step in front of the camera again in "Joy," a film about a suburban mom who launches a domestic goods empire. Robert De Niro and Dascha Polanco costar.
Fox
"Snowden" - Dec. 25 Director Oliver Stone's account of the true story of Edward Snowden (Joseph Gordon-Levitt), who fled the country after notoriously leaking thousands of classified government documents.
Open Road
"The Hateful Eight" - Dec. 25 A bounty hunter (Kurt Russell) gets caught in a blizzard in 19th-century Wyoming and finds shelter with some very suspicious strangers. Quentin Tarantino's Western also stars Samuel L. Jackson, Jennifer Jason Leigh, Bruce Dern and Walton Goggins.
Weinstein Company
"The Revenant" - Dec. 25 Leonardo DiCaprio stars as Hugh Glass, a trapper on the 19th-century American frontier seeking revenge on the people who left him for dead after a bear mauling. Tom Hardy, Will Poulter and Domhnall Gleeson also star.
Fox
"Point Break" - Dec. 25 In an updated reboot of the 1991 Keanu Reeves action classic, a young FBI agent (Luke Bracey) goes undercover to infiltrate a team of extreme-sports athletes he thinks are masterminding corporate heists.
Warner Bros.
1 of 51
TheWrap Fall Movie Preview 2015: ”Everest,“ ”Spectre,“ ”Sisters“ also among season’s big releases
"Pawn Sacrifice" - Sept. 16 The movie follows chess champion Bobby Fischer (Tobey Maguire) who prepares for his game against Russian Boris Spassky (Liev Schreiber).