According to people who have knowledge of the situation, the Avatar sequel has been given a release date in China. Next is good news for Walt Disney Co. in an important market as it attempts to recover from this week's management shakeup. The Way of Water, the sequel to the 2009 hit movie, is scheduled for December 16, boosting the likelihood that it will be one of Disney's biggest movies of the year commercially. The arrival of previous blockbusters was prohibited due to the deteriorating US-China relations. Some of Hollywood's biggest studios have been affected by this restricted access because some American movies' box office sales in China may exceed those in their native countries.
The Avatar sequel is one of the few significant Disney tentpole movies that have been given access to the box office since the outbreak of the pandemic, with recent Marvel blockbusters being excluded. Disney had earlier this year shown clips to China Film Group executives, increasing the probability of local distribution. In a post on Weibo, 20th Century Pictures announced the release.
According to the ticketing website Maoyan Entertainment, 23 American movies have been screened in China so far this year, making up 10% of all box office receipts, the lowest percentage since records began in 2011.
28 American movies were released in the nation during the year, generating 12% of ticket sales. 2019 saw the release of more than 50 films, accounting for a 32% market share.
The news caused the share price of China Film Co. to increase by more than 6%. The state-owned China Film Group, which is in charge of importing and distributing Hollywood movies, is the largest shareholder in the company.