Summer of Cinema
On September 7, Cineworld, the world’s second largest cinema chain, filed for bankruptcy protection in the United States. This debt-laden enterprise is just one of many gigantic multinationals struggling for survival as the global film industry enters a prolonged winter season in which unwelcome forces—the COVID-19 pandemic and streaming services like Netflix—have battered traditional cinemas for years.
Against this gloomy global backdrop, this summer was a season of thawing for China’s domestic film market. According to a recent report released by leading ticketing service agency Maoyan, domestic box office revenue from June 1 to August 31 was 9.13 billion yuan ($1.3 billion). That’s up 23.8 percent from
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