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“中国电影市场发展，好莱坞未来的希望”（王健林在好莱坞的演讲全英文+视频）

未来电影人留美学生扶持计划

2016-10-19

导读：王爸爸周一的演讲精华都在这里了，英文全文 + 演讲视频，如此良心，感觉万达都想打赏未来电影人了。言归正传，我们会继续关注王爸爸的好莱坞之行，还有他的万达，还有他的小目标。

点击上方“未来电影人留美学生扶持计划”可订阅哦！

This is a speech that Wanda Group Chairman, Wang Jianlin made in Wanda Film Summit in Los Angeles on Oct. 17, 2016. The following is the transcript of his speech.

THE VIDEO

Wang's speech in Wanda Film Summit in Los Angeles

THE SPEECH

Dear Mayor of Los Angeles, President of AMPAS, Vice Mayor of Qingdao, distinguished guests, ladies and gentlemen,thank you for attending this event. Welcome! I’d like to take this opportunity to share my views on China’s film industry, especially China’s opportunities for global film industry.

1. The future of China’s film market

First let me share my forecast of China’s film market. By 2016, I think China’s box office will reach ￥46 billion to ￥48 billion, or about $7 billion to $8 billion, up 5% to 10% from 2015. This year’s growth has been relatively slower than previous years, but I maintain my view from a few years ago: By 2018 – in two years – China’s box office will reach that of North America, surpassing $10 billion, and the market will maintain a strong growth rate after that to become the biggest in the world.

I predict that for the next 10 years, China’s box office will see a 15% growth rate per year. Based on this projection, by 2026 China’s box office will reach $30 billion, accounting for 40% to 50% of the global market share.

2. Why China’s box office will maintain its rapid growth？

(1) Large growth potential in theater screen volume

There are 40,000 movie screens in the U.S. for a population of 300 million, or 130 screens per 1 million people. In 2016, I think the growth of China’s theater screens will slow down a bit, up by only about 8,000 to a total of 40,000, reaching U.S. numbers, and the growth will possibly continue to slow in the next few years. However, even with a slower growth rate and with China’s movie screens saturation rate reaching 80% of the U.S.’s, in 10 years China will have 140,000 to 150,000 screens, or about 3.5 times of current U.S. screens. Furthermore, an added bonus is that most of China’s theaters are newly built in the past 10 years. It’s hard to find an independently built cinema in China; almost all of them are located in shopping complexes, and revenue per screen from these cinemas is higher and more profitable and stable.

(2) Potential in average cinema attendance rate

An average American goes to the theater four times a year, while in China the average is less than one time per year in 2015. However, in 10 years, if China’s cinema attendance rate reaches that of the U.S. or slightly less, China’s box office will still be 3 times as big as the current level in North America.

(3) China’s box office shifts to sustainable growth

As you may be aware, from 2005 to 2015, China’s box office had maintained a tremendous growth rate of 30% per year. In 2015, it grew by 50%. The rapid speed is due to two reasons: Number one, the large influx of investments. The rapid rate brought forth big profit and drew more capital into the market, leading to a significant increase in movie screens and investment. The second reason is the role of the Internet in the market. In order to incentivize moviegoers, online ticket sellers in China offer 30% to 50% rebate every time a ticket is purchased. These two reasons have resulted in ultra-fast growth for China’s box office. I am of the opinion that this kind of extreme growth rate is unsustainable and shows characteristics of a bubble.

This ultra-high growth rate has made it easy to make money in the film industry, whether you are investing in cinemas, or in distribution, or in production. This trend leads to lower quality film content. Furthermore, online ticket vendors this year ceased their rebate program, which was valued at ￥5 billion. The disappearance of this ￥5 billion, or about $800 million, subsidy, has led to a box-office reduction of about ￥15 billion, as ￥1 subsidy leads to a ￥2 expenditure. That’s why 2016 has been a year of slowing growth for China’s box office. Nevertheless, let me emphasize, it’s not a decline, but merely a decrease in the rate of growth. China’s box office is turning from super-fast growth to fast growth: from a global perspective, 10% to 15% is still a pretty high rate. Thus, this is a healthy self-adjustment to reduce the bubble, and the growth is becoming more sustainable. This growth rate is also driving away speculators. From 2017, I believe China’s box office will grow at a sustainable rate of 15% per year, give or take, for about 10 years.Thus I believe any pessimism about China’s film market is inaccurate. As China continues its urbanization, as the number of shopping malls grows, and as the income of the Chinese population rises, China’s film market will maintain a fast growth rate over the next 10 years.

3. How Hollywood will be able to engage and benefit from the Chinese market’s high-speed growth

First of all, Hollywood needs to strengthen collaboration with Chinese companies.

You have to understand the Chinese market in order to earn profit from that market. A lot of American film companies think they understand China; however in reality, in my many years of experience talking to Hollywood, there’s a significant lack of film professionals who really understand China. It’s not easy to find folks who understand both China and the US. The best way to solve this problem is for US companies to increase their collaboration with Chinese companies, whether through financial deals, production deals, or collaboration on film techniques. Collaborating with Chinese companies and filmmakers is a very effective way of gaining a piece of the Chinese market share.

Secondly, there needs to be more Chinese elements in films.

I want to emphasize that I am speaking from a purely business perspective, and have no political motivation. Because I’m a businessman, my goal is to be successful in business, so I only speak of attaining profit. Since the Chinese market will continue its robust growth, it is destined to become the largest film market, and if you want to profit from this market, you will have to understand the Chinese audience. You have to please them, and win their hearts. The best way to achieve this is to add more Chinese elements into US films and blockbusters to make the stories more relevant to a Chinese audience. And exactly how to achieve this is for Hollywood to find out. The story has to be more relevant to a Chinese audience. You cannot just expect to make money from the market while at the same time disregarding the Chinese audience and their taste, and meanwhile maintaining, like some politicians in the US have demanded, the “independence” of the films. Such a view is against the common sense of business. That is why my point is that “business is business.” We better not make it political.

Third, improve the quality of Hollywood films.

The Chinese film industry is like a student, and Hollywood is our teacher. How can a student instruct a teacher on how to improve? Hollywood is famous for its storytelling techniques. In the past, I’ve watched many great Hollywood films, with very compelling stories with unpredictable, exciting endings. However, in recent years, Hollywood’s capabilities for innovation are fading, possibly due to financial constraints or a number of other reasons. Many films are just sequels based on original intellectual properties. It isn’t unheard of to make 5 or 6, or even 9 or 10 sequels. Hollywood sometimes relies more on technology and visual factors, rather than a good story. Hollywood, which is famous for its storytelling, apparently is not as good as it used to be in telling stories, which has contributed to its films’ decreased success in the Chinese market in recent years.

Those sequels might have worked before, but Chinese audiences are more sophisticated now. If you want to participate in the growing Chinese market, you must improve film quality and be a good storyteller.

4. Qingdao Movie Metropolis actually increases employment opportunities for Hollywood

Recently, some American media outlets and people I’ve met on this trip expressed worry that as Wanda builds QMM and encourages Hollywood to shoot the films in Qingdao, there will be a loss of jobs in Hollywood as a result. I think it’s actually going to increase jobs, for two reasons. First, even without QMM, films will still be shot in the UK, Australia or Malaysia. They will not stop going to foreign locations just because of QMM. Wherever there are competitive incentives, wherever filming may lead to greater profits – that is where filmmakers will go. The emergence of QMM may bring more competition to the UK, Australia or Malaysia markets, but if Hollywood intends to shoot films elsewhere, they will. Your opportunities have not been curtailed.

Secondly, QMM is a massive project. We have substantial hardware but we lack management skills and technical talents, which we consider as the “software.” Thus, we are recruiting tech experts and operation managers globally, especially from Hollywood. We have great need for talent, and the construction and operations of QMM will greatly increase Hollywood’s work opportunities. Some technical talent may not find their way in Hollywood, but in QMM, they may find ways to make a better living. Furthermore, in order to increase collaborative exchange between China and Hollywood, Wanda and the Qingdao government offer very generous incentives that will lead to cost-savings for Hollywood and higher profits. Therefore, regardless how we look at this, QMM is an opportunity, not a competitor.

Finally, I like to appreciate again for everyone who come tonight for this summit . Thanks!

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