tech
CNBC's The China Connection newsletter: 'Spider-Man' and 'The Odyssey' come courting the massive filmgoer market
More American movie stars have appeared in China this year, reflecting Hollywood's market interests amid political tensions.
TL;DR
- Hollywood stars like Timothee Chalamet and Tom Holland have visited China, signaling a renewed effort to engage with the market.
- Films such as 'Spider-Man: Brand New Day' and 'The Odyssey' are showing promising box office results in China.
- Despite increased screenings of Hollywood films, some movies have struggled, and China's overall box office declined in the first half of the year.
- New entertainment trends like Chinese-led micro-dramas and immersive virtual reality experiences are gaining traction.
- Chinese film studios are increasingly looking to expand their reach internationally with their productions.
- The VR sector in China is seeing growth, with companies creating location-based immersive experiences supported by state policy.
- Hollywood has yet to fully embrace licensing its characters for VR producers, though some anticipate this shift.