BEIJING, Dec. 12, 2014 (GLOBE NEWSWIRE) -- As the China film industry emerges rapidly with record-breaking box offices in recent years, it has become the world's second largest market after U.S. While both domestic and international productions have benefited from this change, the opened policies for imported Hollywood films have not brought the results as expected. Critically acclaimed box office hits, such as X-Men: Days of Future Past and Dawn of the Planet of the Apes, were only able to take in $100 million from China, yet Transformers: Age of Extinction, with a similar genre and production cost, passed $300 million within the same length of show time.
FilmBI – revealing the truth of localization
The box office potential of imported films in China should be analyzed from a subjective and scientific perspective. With the increasing dependence on overseas markets among Hollywood studios, the ability to understand Chinese regions, identify potential problems and execute localized promotion strategies has become essential. FilmBI provides the most comprehensive movie data in China with five years research and development:
Graph 1: X-Men: Days of Future Past - May 23 release
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Implication: A higher audience percentage than show time percentage indicates a higher demand than supply. The un-adjusted show time hindered the potential for further box office increase. (Source: CMM)
Graph 2: Overheard 3 - May 29 release
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Implication: three days after release, show time percentage remains higher than audience percentage, receiving full support from theater chains.
The results of FilmBI show that in terms of theatrical promotion, domestic production seems to have a heavier emphasis. Theatrical promotion directly affects show time scheduling, eventually giving advantage to films with better promotion. The situation is as shown above: the supply of domestic production with localized promotion strategies exceeds its demand, while imported films cannot meet demand despite their high qualities. Such phenomenon reflects waste in scheduling resources, and prevented imported films from reaching full box office potential. The real-time monitoring of movie data can effectively improve these issues and it only reflects a fraction of FilmBI's functions.
FilmBI – China movie industry's actuary
Similar to the pregame analysis of influential factors to sports bookmakers, movie data contains scheduling, audience percentage, box office, audience opinions, consumer behavior, weather, economics, etc. The current China film market has accumulated sufficient data for large-scale analysis and real time monitoring. As the largest information analysis service platform in China, FilmBI contains info of 100,000 show times per day from 3,800 theaters, with a 95% integrity; real-time seating rate monitor of 1,800 theaters, covering 85% of the market capacity; public opinion of all major online media and SNSs. FilmBI has become the most reliable actuary of the entire China movie industry.
A graph accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=29600
FilmBI is short for Film Business Intelligence. As a data analysis tool, it can provide real-time, full-scale, high reliability, and maximum safety services. Relying on its powerful self-developed search engine that captures massive amount of data from the Internet, FilmBI is capable of screening and organizing data with the highest accuracy. After analyzing the data from multiple perspectives, the system is able to deliver customized results based on the client's needs. By assisting clients to accurately develop promotion strategies and evaluate marketing effects, FilmBI shows its value by identifying, analyzing, and eventually solving the problems that clients face.
For a specific film, FilmBI is capable of providing complete and accurate information regarding show times, audience rate, box office, etc. The detailed analysis helps a movie to identify audience preferences, theater chain priorities, peak seating time, competitor analysis, copyright violation activities, etc. The online and offline promotion strategy combination has increased the audience conversion rate, fully releasing the potential of Hollywood productions.
FilmBI has established collaboration with China's largest and most influential film enterprise in China, China Film Group, as well as major theater chains including Wanda Group. As the first entity to provide real-time data analysis services, CMM has successfully operated projects including Transformers: Age of Extinction, TMNT and Interstellar. Being the first project and biggest hit in China to date, Transformers: Age of Extinction benefited from CMM's services to achieve its US$300 million record.
CMM is a large film industry value-added service provider in China, with businesses ranging from content, marketing, distribution, and data analysis. Its FilmBI platform not only increased the company's competitiveness in the rapidly developing China film market, but also initiated a new model of US-China strategic cooperation.
Maggie Qi
