BRIC Box Office Revenue to Match North America by 2017, Forecast Says
LONDON – The combined movie box office revenue for the BRIC countries of Brazil, India, China and Russia is set to double from $6.2 billion in 2012 by the end of 2017, according to a report.
The research, from IHS Screen Digest, says that by 2017 BRIC countries are projected to hit $12.1 billion, approximately equal to the IHS forecast for the North American box office that same year.
The BRIC box office total expanded dramatically in just five years, rising to $6.2 billion in 2012, up from $3.1 billion in 2008, according to the IHS Screen Digest Cinema Intelligence report.
"The rapid growth of the BRIC cinema market is being driven by two principal factors: increasing ticket prices and new screen construction," said Charlotte Jones, principal analyst for cinema at IHS. "However, other variables are also helping spur the BRIC cinema markets, including the loosening of market regulations in China for 3D and Imax films, the popularity of premium films in Russia and the rise of shopping centers in Brazil. Driven by all these factors, the BRIC countries by the end of 2016 will account for one quarter of global cinema box office revenue, up from 18 percent in 2012."
All four of the BRIC markets were in the Top 12 world rankings last year in both theater admissions and box office revenue.
China led the way with more than $2.7 billion in 2012, and the country was also the No. 2 world market by size, behind the U.S.
India was the next largest market, sixth overall in the world in 2012, while Russia climbed to the ninth position.
Brazil, the only country in the Top 12 not to hit the $1 billion box office mark, came in at No. 12.
By 2017, both Russia and India will be among the top five box office markets with a projected $2 billion in revenue, putting them ahead of the U.K. and France, IHS projects.
Meanwhile, Brazil is forecast to be ranked 10 by 2017, ahead of Mexico and Italy.