In my opinion, market drivers and competitive drivers are the most important for Wanda. The Chinese film market has maintained a 30%-plus growth rate for several consecutive years. It is estimated that China's film box office revenue will surpass North America's by 2018 and will double it by 2023. That is why I believe the future of the world's film industry is in China. However, although the market is huge, Chinese film industry is not competitive. China produces more than 800 films every year, none of them has world influence. China also does not have an influential film industrial center like Hollywood in the United States and a world-class international film festival like Oscar. There is so much left to do to tape the potential of the huge Chinese film market. Wanda Group, as a leading culture enterprise in China, is responsible and obliged to make contribution in this regard.
When Wanda successfully acquired AMC and began to cooperate with major US film production companies and agents. Since Wanda has become the world's largest cinema operator and is continuing acquiring cinema chains in Europe and the US, it's likely that Wanda will occupy 20% of the world's film market share in 2020. Therefore many big Hollywood producers, who are also trying to develop the Chinese market, are interested in cooperating with Wanda.
In my opinion, market drivers and competitive drivers are the most important for Wanda. The Chinese film market has maintained a 30%-plus growth rate for several consecutive years. It is estimated that China's film box office revenue will surpass North America's by 2018 and will double it by 2023. That is why I believe the future of the world's film industry is in China. However, although the market is huge, Chinese film industry is not competitive. China produces more than 800 films every year, none of them has world influence. China also does not have an influential film industrial center like Hollywood in the United States and a world-class international film festival like Oscar. There is so much left to do to tape the potential of the huge Chinese film market. Wanda Group, as a leading culture enterprise in China, is responsible and obliged to make contribution in this regard.When Wanda successfully acquired AMC and began to cooperate with major US film production companies and agents. Since Wanda has become the world's largest cinema operator and is continuing acquiring cinema chains in Europe and the US, it's likely that Wanda will occupy 20% of the world's film market share in 2020. Therefore many big Hollywood producers, who are also trying to develop the Chinese market, are interested in cooperating with Wanda.
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