Back in February, China’s film industry set a world record for monthly sales in a single market, chalking up 10.1 billion yuan ($1.6 billion). Later, the country posted sales of 20.2 billion yuan ($3.2 billion), a figure approaching the single-market record of around $3.6 billion reported by North America in the final quarter of last year. But while China threatens to become the world’s biggest box office, the commercial model that it once sought to emulate — Hollywood — is losing its dominance in the Chinese market. When China set the new monthly record, its cinemas were full of homemade movies. In March, major Hollywood…Read More
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