Hong Kong box office up by 8% despite downturn

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Hong Kong's box office grew by around 8% to $140.26m (HK$1.09bn) in 2008 according to figures from local film industry body, the Motion Picture Industry Association (MPIA).

The growth compares to anuptick of 11.5% in 2007 after several years of flat revenues in Hong Kong. MPIA chief executive Brian Chung said an increase in new multiplexes and a strong line-up of releases were the two main reasons for the overall growth.

Also the global economic crisis did not seem to affect the Christmas holiday box office as many Hong Kong residents chose to stay at home and take part in low-cost activities, including cinema-going, rather than travel overseas.

Hong Kong productions grossed a combined $32.41m (HK$251.20m) in 2008, which is a 9% increase on the previous year, and accounted for a 23% market share compared to 22.5% in 2007.

Foreign films continue to dominate Hong Kong's film market with 195 releases grossing a combined $107.81m (HK$835.53m). In comparison, there were 53 Hong Kong films released in 2008, an increase of three titles from the 50 released in 2007.

The Dark Knight was the top-grossing title overall with $7.55m (HK$58.52m), followed by local production CJ7 with $6.64m (HK$51.44m) and The Mummy: Tomb Of The Dragon Emperor with $4.85m (HK$37.58m).

The second highest-grossing Chinese-language film was John Woo's Red Cliff with $3.13m (HK$24.26m) which was the only other Chinese film to enter the top ten.

Although the MPIA has countedRed Cliffas a local Hong Kong production, technically the film is a China-Japan-Korea-Taiwan co-production. However it does have a Hong Kong director and producer in John Woo and Terence Chang.

Hong Kong Top Ten Films 2008:

1. The Dark Knight - $7.55m (HK$58.52m)

2. CJ7 - $6.64m (HK$51.44m)

3. The Mummy: Tomb Of The Dragon Emperor - $4.85m (HK$37.58m)

4. Journey To The Center Of The Earth - $4.52m (HK$35.03m)

5. Kung Fu Panda - $4.06m (HK$31.47m)

6. Enchanted - $3.61m (HK$27.99m)

7. Indiana Jones And The Kingdom Of Crystal Skull - $3.46m (HK$26.84m)

8. The Chronicles Of Narnia: Prince Caspian - $3.29m (HK$25.48m)

9. Red Cliff - $3.13m (HK$24.26m)

10. Hancock - $3.05m (HK$23.65m)

Hong Kong Top Ten local films 2008: