This article explores the momentous shift in the global cinema market’s balance of economic power – reflecting a dynamic, multi-shifting landscape where globalisation and localisation coexist and interact.
China will overtake the US in 2017 in box office revenue, powered by an estimated 15 new screens being opened every day. While Hollywood-made content will continue to dominate global markets, the US studios look to tap into the Chinese market, which remains predominantly local partly because of China’s quota systems. Meanwhile China will continue to invest in US production and exhibition, bringing benefits for both parties.
In the US, total electronic home video revenue exceeded box office revenue for the first time in 2015. And at a global level, electronic home video will continue to narrow the gap on box office throughout the forecast period. This underlines how the rise of Internet streaming companies like Netflix and Amazon Prime is putting growing pressure on traditional “theatrical windows” – the 16- to 17-week period of exclusivity that cinemas demand before films filter through to ancillary platforms. Hollywood studios’ responses include focusing on “tentpole” movies: huge-budget, big-screen offerings that demands to be seen in cinemas.
The Australian Entertainment & Media Outlook 2016-2020 highlights growth through diversity with a focus on talent, geography and business models.
This follow-up report explores consumer attitudes and preferences towards wearable technology - what’s changed, what’s improved, and what the wearable future has in store for the US and beyond.