The film industry is one of the largest sources of entertainment in the world. The industry produces thousands of films annually and makes billions of dollars in revenue.
Hollywood is the largest, oldest and most profitable film industry in the world. It is responsible for producing some of the most exciting and captivating films. This article looks at the major film industries.
The world’s largest film industries
1. United States and Canada
In 2016, the film industry in the United States and Canada generated approximately $11.4 billion, making it the most profitable industry in the world. The industry experienced a 2% growth of $11.1 billion in 2015. Two-thirds of the American and Canadian population attended the cinema at least once in 2016. The increase in profit is attributed to frequent attendants who accounted for 48% of tickets sold. Of the income generated, Hollywood represented US $10 billion. Major players in the US and Canadian film industry include Metro-Goldwyn-Mayer, Paramount Pictures, 20th Century Fox and AMC.
China’s film industry is the second-largest film industry in the world after the United States and Canada, generating $6.6 billion in 2016. During the past decade, the film industry in China has experienced an average annual growth of 35% but has experienced a 3.7% insufficient in 2016 compared to 48% it experienced in 2015. Hollywood did better in China and accounted for 41.7% of the total box office in 2016. China is also prepared to produce 1,612 cinemas between 2016 and 2017. The most notable cinema in China is Hengdian World Studios
In 2016, the UK film industry generated $ 6.5 billion, slightly below China. The industry is getting a big boost from the government, which includes reducing taxes on film production through tax breaks. Some notable UK film studios include Pinewood Studios. The industry spent an estimated $ 2.04 billion in 2016 to produce films.
The film industry in Japan generated about $ 2 billion in 2016. Until 2012, Japan was Asia’s largest film producer, but slow economic growth and the high cost of film production resulted in a stagnant industry that was finally overtaken by China. There were 3,472 movie screens in Japan compared to more than 40,000 in China. The industry produced 610 films and 180.2 million admissions. Imported films accounted for 36.9%, while films produced locally accounted for 63.1%. Japan’s Cinema is one of the oldest industries in the world and started production in 1987.
India is the largest producer of films in terms of quantity and in 2016 film production in the country generated US $ 1.9 billion. The majority of films produced in India are in Hindi or English ensuring that they can be exported. Bollywood produces films in Hindu and is India’s largest film producer. Despite a large population and the production of many films, India has few cinema screens compared to other major film producers. India has a screen 1 by 96,300 ratio compared to screen 1 by 7,800 residents in the USA. Movie theaters are also below average compared to other countries. Unlike the USA and Canada, where films are created in one language, films in India are created in about 20, limiting the film to a specific group of people.
Top 10 world’s largest film industries
|Classification||Region||Profit (billions, USD)|
|1||United States and Canada||11.4|