Headlines From China: Foreign Films Face Stiff Competition in Chinese Mainland Market

Foreign Films Face Stiff Competition in Chinese Mainland Market

The Chinese mainland film market has entered the epilogue of the Spring Festival holiday with a total box office of more than 7.8 billion yuan ($1.2 billion) stunning domestic as well as overseas moviegoers. Seeing the recovery and rise of the market, major Hollywood filmmakers, such as Disney, are bringing their films to the mainland in order to get a piece of the pie. Yet, the current situation for “Tom & Jerry” demonstrates that it will be more difficult than ever for foreign films to compete in China as the quality of Chinese films has sharply increased. Read more Global Times

China’s Bilibili Focuses on Growth as Losses Double

According to Variety, Chinese video entertainment platform Bilibili saw its losses deepen in 2020, but they reflected further investment in growth, as Middle Kingdom consumers become increasingly digitally focused. The platform’s total net revenues were RMB3.84 billion ($589 million) in 2020, an increase of 91% from the same period of 2019. Net losses extended from RMB1.3 billion in 2019 to RMB3.1 billion ($468 million). Average monthly active users (MAUs) reached 202 million representing an increase of 55%, compared with 2019. Those paying for use reached 17.9 million, a 103% increase. Read more Variety