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Stocks D / DreamWorks Animation SKG
|Subject: The China blip||Date: 2/22/2012 11:58 AM|
|Author: TMFCogitarius||Number: 177 of 187|
I thought the new China deal on foreign movies would be seen as a long term positive for existing franchises:
"The U.S. and Chinese governments announced a deal on Friday night that will improve the U.S. film industry's ability to monetize its content in China and likely result in continued screen count growth within the country.
The key concessions made by China are: 1) the box office share for U.S. studios will increase to 25% from 13%; and 2) up to 14 additional "enhanced format" films (Imax and 3D films are included in this definition) will be allowed for release annually on top of the 20-film quota already in place (many of the 20 films released in China each year are already in the Imax or 3D formats). 3D format films are particularly notable for China. There were 30 3D films released in China in 2011, generating $793 million (or roughly 38% of total box office revenue). Of that total, 90% of the 3D revenue was generated by imported films."
Mr. Market seemed to agree yesterday, but, as usual, found something else to worry about PDQ!
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