China has been one of the biggest markets for Hollywood movies. Dating back to the 1994 film The Fugitive, American movies have had a huge appeal among Chinese audiences. In 2012 seven American movies made it to the top 10 highest-grossing movies in China. However, according to a new report, the Chinese audience has showcased a significant shift in their preferences over the past few years.
These changes have seriously affected American movies in 2023, as not a single film managed to secure a top spot in China’s top 10 box office. The development has sparked a growing concern about Hollywood’s diminishing influence in one of the world’s most lucrative markets.
New Report Suggests Hollywood Losing its Appeal in China
Based on the data from Chinese entertainment analytical provider, Maoyan, The New York Times revealed in a recent report that not a single Hollywood movie made it to China’s Top 10 box office in 2023. Despite the much-anticipated releases of sequels in major franchises like Tom Cruise’s Mission: Impossible, Fast & the Furious, and Spider-Man, these films failed to leave a mark.
Even blockbusters like Oppenheimer and Barbie from the previous year struggled to gain traction and were unable to even secure a position in the top 30 at the Chinese box office. Professor Stanley Rosen from the University of Southern California suggests, “The days when a Hollywood film would make hundreds of millions of U.S. dollars in China — that’s gone.”
Barbie, which earned over $1 billion worldwide, only garnered $35 million in China. Highly anticipated movies like Mission: Impossible – Dead Reckoning made $48 million, Guardians of the Galaxy Vol. 3 grossed $86.9 million, and Christopher Nolan, who has a big fanbase in China, Oppenheimer made $61 million.
The report highlights examples of self-censorship by studios to gain access to the Chinese market, as one of the reasons for the decline in popularity of these movies. It also states how the balancing act pursued by Hollywood giants, where they prioritize films tailored for the Chinese market while simultaneously championing Western values domestically, appears to be faltering.
Shifting Preferences of the Chinese Audience
Hollywood movies have enjoyed significant popularity in China since the 1990s, but the waning appeal of these films is attributed to the changing preferences of the Chinese audience. The report notes a growing appreciation towards domestically produced films such as Full River Red and Wandering Earth II, the movies that topped the box office in China in 2023.
This shift underscores China’s ongoing commitment to elevating the quality of its own film industry, directing attention away from Hollywood productions. The report emphasizes the Chinese government’s active support and promotion of Chinese filmmaking.
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Shi Chuan, vice chairman of the Shanghai Film Association, has argued that Hollywood studios now need to “study deeply to understand the Chinese market, Chinese audiences, and Chinese pop culture,” emphasizing that China is no longer the market where they could always make money.
The decline in box office performance is also illustrated by Warner Bros.’ Aquaman and the Lost Kingdom, which garnered only around $60 million. Despite sharing clips and behind-the-scenes footage on the Douyin platform, the Chinese version of TikTok, the film failed to match the response of its 2018 predecessor, which grossed over $290 million in China.
