Hoping the record-breaking Chinese revenues from "Avatar" can be replicated many times over, Rupert Murdoch urged China on Sunday to further open up its movie market.
On Saturday, Murdoch and his Chinese-born wife, Wendi Deng, walked the red carpet at the Shanghai International Film Festival's opening ceremony alongside Hollywood stars including Susan Sarandon and Matt Dillon. A day later, pageantry gave away to tough talk.
Speaking before a panel discussion on film finance attended by a top Chinese film regulator, the Australian-born media mogul said despite rapid growth, the Chinese cinematic market was still underdeveloped.
Murdoch said the numbers were breathtaking: Chinese box office revenues surged from just $150 million in 2005 to $1.5 billion last year, and a theater-building rush is expected to raise the number of movie screens in China from the current 6,200 to 20,000 in five years. Most of the new screens use 3-D compatible digital projectors.
"The truth is there is no more exciting market in the world than this one," he said.
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