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MPAA Chairman and CEO Senator Chris Dodd has highlighted the growth of the global film industry in his “State of the Industry” remarks at CinemaCon, the annual National Association of Theatre Owners (NATO) convention in Las Vegas. In 2015, global box office for all films released in each country around the world reached $38.3 billion (€33.8bn), up 5 per cent over 2014’s total.
Box office in the Asia Pacific region increased by 13 per cent, serving as the primary driver of international growth, Senator Dodd noted. In particular, China’s box office increased 49 per cent in US dollars to $6.8 billion, surpassing the next largest international market by nearly $5 billion and accounting for nearly 50 per cent of Asia Pacific box office.
“These numbers clearly show that the international marketplace, which accounts for nearly three-quarters of global box office today, is only continuing to grow in importance,” said Senator Dodd.
The report also shows strong growth in the US/Canada box office. In 2015, the box office for those two countries totaled $11.1 billion, up 8 per cent from $10.4 billion in 2014.
“Production, distribution, and exhibition not only are thriving, we are growing stronger, and we are doing it together” Dodd continued. “How are we doing this? By relentlessly innovating.”