Hong Kong Top 10 Films in 2014
Country of Origin
Transformers: Age of Extinction
The Amazing Spider-Man 2
Captain America: The Winter Soldier
X-Men: Days of Future Past
Gam Gai 3
Dawn of the Planet of the Apes
The Man from Macau
The Maze Runner
The Wolf of Wall Street
Source: Box Office Mojo
Hong Kong’s total box office revenues in 2014 grossed US$213 million, representing only a slight increase of 1 percent from 2013. The number of local films released increased from 43 in 2013 to 51 in 2014, reflecting a significant rise of 19 percent; while foreign films released decreased by 3 percent from 268 to 259. The highest-grossing film was Transformers: Age of Extinction, and eight out of the ten highest-grossing films in 2014 were imported from the U.S.
The major theater operators in Hong Kong are:
1. AMC and Broadway, which are owned by Edko Films Limited: total of 65 screens and 10,600 seats
2. UA owned by UA Cinema Circuit Limited: total of 52 screens and 8,800 seats
3. MCL owned by Intercontinental Group: total of 37 screens and 5,600 seats
4. Golden Harvest owned by Orange Sky Golden Harvest: total of 34 screens and 5,800 seats
These top theaters account for over 80 percent of screens and total box office revenue. Theater operators are investing millions to enhance their competitiveness. New multiplexes such as The Sky, operated by Orange Sky Golden Harvest, has brought in D-BOX technology motion systems seats, which move the seats according to the storyline. UA operated Cine Times (UA) also introduced Dolby Atmos sound technology, stadium seating layout, and even a special food menu to provide demanding cinema-goers with an enhanced movie-going experience.
There are over 100 film distributors registered with the Hong Kong Film Services Office. Several theatrical distribution companies serve as local distributors for the major studios, which includes Intercontinental Video Limited (exclusive distributor for Walt Disney, Universal and Paramount), Delta Mac (Warner Brothers and Fox), and Era Movies (Sony). Local film distributors include Media Asia, Panasia/Golden Harvest Entertainment, Edko, Newport and Sil-Metropole. Smaller distributors include Golden Scene, Lark Film, Sundream, Applause Pictures, Celestial Pictures, Gala, and Mandarin Film. Distributors have preferential revenue-sharing agreements with both film producers and film exhibitors, and typically advance the up-front costs for marketing and producing 35mm prints or digital copies of the film. Under the Film Censorship Ordinance of 1988, Hong Kong has a three-tier system of film classification. All films must be approved by the Commissioner for Television and Entertainment Licensing before being distributed to the public.
The Hong Kong government has demonstrated support for the film sector with the establishment of the Film Development Council and Create Hong Kong within the Commerce and Economic Bureau. Create Hong Kong is intended to integrate existing policy and funding initiatives across government departments to boost the development of Hong Kong’s creative industries. Hong Kong’s film sector also benefits from the Closer Economic Partnership Arrangement (CEPA) with China, which gives Hong Kong film distribution and production firms preferential access to mainland China.
Sub-Sector Best Prospects
Opportunities for U.S. firms go beyond the box office to include film production technology, multimedia content and related services. Best prospects in Hong Kong and Macau are:
Hong Kong is a significant market for media and entertainment and an important springboard for entering mainland China’s entertainment market and industry, which is currently one of the fastest growing in the world
Opportunities in Hong Kong’s market for U.S. firms include M&E services that Hong Kong firms can distribute in Asia, particularly in mainland China, as well as U.S. technology that can be used in Hong Kong and elsewhere in China.
U.S. exporters may take advantage of selling content licenses to TV stations and Hong Kong agents for distribution rights in both Hong Kong and around Asia. In 2013, two more free-to-air licenses were granted to PCCW’s Now TV and Wharf’s iCable. This presents business opportunities for U.S. companies to sell movies and television programs to these new licensees. TV Broadcasters such as TVB in Hong Kong typically pay $5,000 to $15,000 per episode for a foreign series such as a six-part, one-hour-per-episode documentary. For outsourced production, broadcasters and programmers in the region pay five to ten times those figures or more if, for example, sophisticated animation of well-known talent is required.
U.S. film companies can also access Asia’s growing market for multimedia products in Hong Kong. Local consumers are keen to see new content and related applications for games, comic books, and mobile phone downloads, in addition to films and TV programs. Merchandising for these products as well as the technology required for their maintenance will accompany this growing demand in the market. In-flight entertainment should also not be overlooked. There is increasing demand for digital content in general across all platforms.
Major Trade Shows
Dates: March 14-17, 2016
Venue: Hong Kong Convention and Exhibition Center, Hong Kong
Hong Kong - Asia Film Financing Forum 2016
Dates: March 14-16, 2016
Venue: Hall 1, Hong Kong Conventional and Exhibition Center, Hong Kong
Hong Kong International Film Festival 2016
Dates: March 21 – April 4, 2016
Hong Kong Film Development Council: http://www.fdc.gov.hk/en/home/index.htm
Hong Kong International Film Festival: http://www.hkfilmart.com/filmart/chi/buyreg.htm
Hong Kong International Screen Association Limited: http://www.hkisal.org
Film Business Asia: http://www.filmbiz.asia/
Hollywood Reporter: http://www.hollywoodreporter.com/topic/asia
For more information about this industry sector, please contact:
Ms. Fanny Chau, Commercial Specialist
U.S. Commercial Service Hong Kong
Tel: (852) 2521-3721
Fax: (852) 2845-9800
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