STill falls short of biggest draw of the year, behind local comedy
San Francisco, CA -- (SBWIRE) -- 01/07/2013 -- One of James Cameron's creations has made its way to the top of yet another list, as “Titanic in 3-D was the top-grossing foreign film in China in 2012. However, the movie fell short of the ticket sales that was made by a local low-budget comedy, according to the Xinhua News Agency.
Cameron's film had 935 million yuan ($150 million) in total sales, which was behind the top-grossing domestic film, “Lost in Thailand,” which had sales of more than a billion yuan, says Xinhua. The film is a story of two rival Chinese businessmen and a pancake maker in Thailand.
The Chinese film industry earned a 14.35 billion yuan at the box office in eleven months of 2012. Domestic films accounted for less than half of that total, according to Xinhua. China's box office record was set in 2010 by another Cameron creation, “Avatar”, which took in 1.4 billion yuan.
“Lost in Thailand” cost 30 million yuan to create, and is the highest-grossing domestic film of all time, says Xinhua on December 30.
America's Oscar-winning director spent 10 years developing the 3-D camera system, and stated in August he formed a venture with a pair of companies in China. Cameron Pace Group was founded with cinematographer Vince Pace, and the duo formed CPG China with along with state-owned Tianjin North Film Group and Tianjin High-tech Holding Group.
The Box office sale within China will likely exceed $5billion by 2015, according to experts, and surpass U.S. Box office revenue of $11 billion 2020, according to the Cameron Pace Group.
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