Overview
Hong Kong's box office regained its momentum in 2007 with box office revenues totaling USD130.5 million. With an increase of 11.5% from the previous year, it marked the best year since 2001. U.S. blockbusters "Spider-Man 3" and "Harry Potter And The Order Of The Phoenix" grossed in excess of USD7 million and USD6.5 million respectively, making them the top two earners in 2007.
Top 10 films in Hong Kong (Jan 1 to Dec 30, 2007)
1. Spider-Man 3 – USD 7,098,966
2. Harry Potter And The Order Of The Phoenix – USD
6,763,595
3. Lust, Caution – USD 6,282,730
4. Pirates Of The Caribbean: At World’s End – USD 5,398,776
5. Transformers – USD 5,124,610
6. Night At The Museum – USD 4,843,499
7. Protˆmgˆm – USD 3,423,335
8. Ratatouille – USD 3,259,009
9. Warlords – USD 2,997,056
10. Shrek 3 – USD 2,719,396
Source: MPIA
Best Products/Services
The opening of new cinemas helped grow box office potential in Hong Kong. UA launched Hong Kong's first IMAX theatre in Kowloon Bay which offers 3D technology while MCL opened the biggest ever 12-screen multiplex at Elements shopping mall and a new 4D Extreme Screen at the airport. Macao Studio City, Asia’s first leisure resort property combining theatre, television and film production facilities, and studio with gaming, entertainment and hotels, requires theater and production equipment.
Best prospects in Hong Kong and Macau are:
- U.S. independent feature or documentary films and videos that Hong Kong firms can distribute in Asia, especially mainland China.
- Co-productions between U.S. and Hong Kong firms for distribution in China and Asia.
- U.S. technology products used in movie theaters in China and elsewhere in Asia.
- Cooperative agreements with U.S. film education and training institutions.
- U.S. digital entertainment and animation technologies.
- U.S. commercial advertising agencies.
- U.S. film financing and deal-structuring techniques and services.
Opportunities
The U.S. is the largest exporter of films to Hong Kong. During the last few years, U.S. films constituted about 80 percent of the total import market. U.S. films are known for high budget films, strong story lines, script-driven films with universal themes, well-known actors and directors, established technical film capabilities and advanced technologies and a proven track record of productions.
To increase their market share, U.S. exporters should consider selling content to TV stations in the region, as well as to Hong Kong agents for both Hong Kong rights and rights in Asia. This will minimize the potential copyright infringement issues by limiting the number of movie samples sent out. U.S. companies should also consider selling theatre, television and film production equipment to the new facilities in Hong Kong and Macau, and through Hong Kong agents to Mainland China.
Resources
Major Trade Shows:
Filmart 2008
March 17-20, 2008
Venue: Hong Kong Convention and Exhibition Center
www.hkfilmart.com
Cineasia 2008
October 13-16, 2008
Venue: Hong Kong Convention and Exhibition Center
www.cineasia.com
Digital Film, Entertainment and TV trade mission to the
U.S.
October 2008
For more information about this industry sector, please contact U.S. Commercial Service:
Alice Lai, Commercial Specialist
Email: alice.lai@mail.doc.gov
Tel: (852) 2521-4638; Fax: (852) 2845-9800