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CCTV Script 29/06/17 2

This is the script of CNBC's news report for China's CCTV on June 29, Thursday.

In the recent years, the rise of China's bourgeoisie resulted in a large part of them consuming more Euro-American's cultural products such as comics, novels and films. They are contributing extensively to the market.

One of the best examples is the current blockbuster, Transformers, The Dark Knight, the fifth installation of the Transformers franchise which has lackluster performance in the American's box office.

From the first weekend's opening to 25th June, the US Box office was onlu at USD43 million. Previous transformers films garnered USD93 million. Despite this, the international market embraced the film, with international box office raking in USD196 million, including a whopping USD123 million from China. Apart from China, audiences from India and South America have also driven majority of the box office sales.

Indeed, Transformers franchise is increasingly relying on the overseas market. Although the movie ratings are plummeting and the current American market is lukewarm, its international box office is still growing. As such, this makes the Transformers series one of the most profitable Hollywood films.

This chart clearly depicts the trend. A simple comparison reveals that in 2007, when the first Transformer's movie was released, its box office stood at USD319million whereas its overseas box office was at USD389 million. The difference between the America's and overseas box office was widened during the release of the 3rd Transformers movie, in 2011. Fast forward to 2014, when the 4th Transformers film was released, American box office stood at USD245 million whereas international box office went up to USD858million.

What this means is that China was the biggest contributor in the previous Transformer's movie which saw more than 77% of its box office coming from overseas market. This similar trend can also be observed in similar blockbusters like Pirates of the Caribbean.

What this means is that China was the biggest contributor in the previous Transformer's movie which saw more than 77% of its box office coming from overseas market. This similar trend can also be observed in similar blockbusters like Pirates of the Caribbean.

The fourth installation of Pirates of the Carribean in 2011 stood at USD241million, which was lower than the first film which stood at 3.05yi in 2003. Yet, its overseas markets achieved USD804 million, even higher than the first film by 127%.

Closed on 25th June, Pirates of the Caribbean's fifth installation was at USD153 million but its overseas total box office tipped USD500 million. With these being said, these two films will definitely continue to screen. Insiders have revealed that after this years, Transformers is still having four more line-ups

Last week, Harry Potter fans from all over the world are celebrating its 20th anniversary. These fans are precisely those people who helped the seven novels of Harry Potter and the eight accompanying movies earn more than USD 8billion.

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