China eases quota on U.S. films

China eases quota on U.S. films
U.S. Vice President Joe Biden and Chinese VP Xi Jinping have settled a long-standing trade dispute that will ease restrictions on imports of U.S. films into China.

China currently allows 20 "blockbuster" foreign films to be released each year but the new deal allows for 34 films, a significant improvement. The only catch, however, is the extra 14 films must be in Imax or 3D formats.

Additionally, the deal will allow foreign film-makers to keep 25 percent of box office revenue, compared to the current 13 percent.

In 2011, Hollywood films accounted for 40 percent of all box office revenue in China. The total value of China's box office was about yuan (1.3 billion) last year.

Independent film makers seem to be the happiest with the new deal: "We do think it's a breakthrough," Jean Prewitt, president of the Independent Film and Television Alliance said (via Guardian). "For the first time we really have the building blocks to begin to work competitively in that marketplace."

Indie producers can now negotiate fixed license fees rather than be stuck with 3%, which they are getting now in China.

Written by: Andre Yoskowitz @ 20 Feb 2012 18:27
China Deal Box Office Independent Import Quota
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  • nbfreak2

    Oooo good more money for Hollywood!!

    20.2.2012 19:35 #1

  • LordRuss

    Wait till the Triad start moving in on their take. You think Hollywood is screaming & bitching about piracy now? Just f*ing wait. That 12% is going to cost them dearly.

    It all looks REALLY good right now... That's that high gloss finish I've been telling you folks about on that POS these long months. Good Ol' Hollywood's been dazzled by the light dancing off that high speed bullet turd their about to be shot with. Mark my words.

    I give it 18 months at the most.

    21.2.2012 10:59 #2

  • llongtheD

    What I want to know is what did we give up in exchange for this? Let us make a few more bucks with media, and we'll let you....
    China has never been big on negotiating with the U.S., other than providing slave labor that is.

    22.2.2012 01:06 #3

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