China announced on Thursday that it will limit the number of Hollywood movies it imports. This decision is a response to President Trump’s increase in tariffs on Chinese goods. While this might seem like a big deal, experts say it won’t have much effect because Hollywood’s popularity in China has dropped a lot over the years.
For many years, China allowed 10 Hollywood films to be shown each year. Now, American movies make up only 5% of the total box office earnings in China. In fact, domestic films have become much more popular, bringing in around 80% of the box office income.
Chris Fenton, an expert in entertainment, commented that reducing U.S. films is a way for China to show its power without facing much risk. Although some big Hollywood movies like Disney’s “Thunderbolts” will still be shown this summer, it’s uncertain if more will follow.
While this news might sound bad for Hollywood, some sources, like IMAX, believe the impact will be small. They say there are still chances for both Hollywood and Chinese films to succeed in the market. Overall, local films have been getting more attention, making it hard for American films to compete.
Fenton also pointed out that in the past, movies like “Titanic” and “Avatar” did very well in China. However, nowadays, only one imported film, “Avengers: Endgame,” is in the top 20 highest-grossing films in China.