India Abroad

Bollywood To Benefit As US-China Trade Tensions Hit Hollywood: Chinese Media

DIVYIA ASTHANA | 0
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| July 12 , 2018 , 16:52 IST

The trade frictions between US and China are likely to spillover to the entertainment industry, resulting in a decreased popularity of Hollywood films, giving an opportunity for the Indian film industry to increase its presence in China, local media reported.

According to Hollywood industry representatives quoted by US news site newsweek.com, potential losses have been predicted amid the escalations of US and China trade tensions, as industry insiders noted that film quotas would be an easy target for China to respond to US tariffs.

"Hollywood movies are part of the services trade, and the impact of the current trade tension will go beyond goods to other areas," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told China's Global Times.

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"Given the US-China trade friction and Chinese audience's aesthetic fatigue toward American films, the Indian film industry will have greater opportunities," said Tian Guangqiang, assistant research fellow with the National Institute of International Strategy at the Chinese Academy of Social Sciences.

"Indian films should take advantage of the US-China trade tension to appeal to Chinese audiences and cash in," Tian said.

"Given China's huge market potential and the box office success of previous Indian films, the Indian movie industry will pay more attention to the Chinese market, and will expand its presence through a variety of ways like co-productions," he said.

In the past 3 years, Indian films have made a total of $418 million in China, which is considered to be the fastest-growing film market in the world. Bollywood films such as Dangal, Secret Superstar and Bajrangi Bhaijaan have proved to be massive hits in China, with Dangal bringing in nearly  $196 million at the Chinese box office.