Cinema is one of the most popular forms of entertainment in the world, and the film industry is a major economic powerhouse. In 2023, the global film industry was worth an estimated $130 billion, and the top 10 largest film industries accounted for over 80% of that revenue.
Film is one of the most popular and influential forms of art and entertainment in the world. The film industry is a global business that is worth over $100 billion. It employs millions of people and creates products that are enjoyed by billions of people around the world.
The size of a film industry can be measured by a number of factors, including box office revenue, the number of films produced, and the number of people employed in the film industry. The United States is the largest film industry in the world, followed by China, India, Japan, and South Korea. These countries have all experienced rapid growth in their film industries in recent years.
There are a number of factors that contribute to the size of a film industry. One important factor is the size of the domestic market. Countries with large populations have a larger potential audience for films. Another important factor is the level of government support for the film industry. Some governments provide financial incentives to filmmakers and film studios. This can help to attract investment and promote the production of films.
The film industry is a major contributor to the global economy. It creates jobs, generates tax revenue, and promotes cultural exchange. The film industry also plays an important role in promoting national identity and culture.
In this blog post, we will take a look at the top 10 largest film industries in the world in 2023. We will examine the factors that have contributed to the success of these industries and the impact that they have on the global economy.
Top 10 Largest Film Industries in The World (2023)
TOP 10 WORLD’S LARGEST FILM INDUSTRIES (2023)
Here are the top 10 largest film industries in the world.
Hollywood reigns supreme as the largest global film industry. In 2016, the United States and Canada’s movie sector raked in an impressive $11.4 billion, securing its status as the most lucrative movie market on the planet. This marked a 2% revenue increase from 2015 when it reached $11.1 billion. Notably, the North American film industry’s value is nearly on par with the combined worth of the next five major movie markets. In 2016 alone, Hollywood produced over 500 films, encompassing theatrical releases and streaming service exclusives like Netflix and Hulu.
In the same year, approximately two-thirds of the American and Canadian populace visited cinemas at least once, with 48% of ticket sales attributed to frequent moviegoers. Hollywood contributed nearly $10 billion to the total income generated. Renowned film companies such as Marvel Studios, Metro-Goldwyn-Mayer, Paramount Pictures, 20th Century Fox, and AMC spearhead the film industry in the United States and Canada.
CHINESE FILM INDUSTRY
The Chinese film industry claims the second spot globally, closely trailing Hollywood. In 2016, it amassed an impressive $6.6 billion in film revenue. Over the past decade, China’s film sector has experienced remarkable annual growth, with a 3.7% uptick in 2016 compared to the previous year’s 48% surge. China also held the distinction of being Hollywood’s largest overseas market, with a 2016 revenue share of $4.6 billion, constituting 41.7% of the box office.
China’s dedication to film is evident in its rapid construction of 1,612 movie theaters within two years. Notably, Hengdian World Studios stands out as a premier cinematic facility in China. With a total box office revenue of $74.83 billion USD and an average ticket price of approximately $12, China’s film industry commands a 16% share of the global film market, fueled by its vast population, accounting for 21% of the world’s populace. The list of top 100 highest-grossing films worldwide boasts five Chinese entries, including “The Mermaid,” “Monster Hunt,” “Lost in Hong Kong,” “Wolf Totem,” and “Mojin: The Lost Legend.” Additionally, China produces around 50 foreign films annually, including Hollywood blockbusters like “Iron Man III” and “Furious VII” to appeal to international audiences.
The British film industry recorded a profit of $6.5 billion in 2016, following an expenditure of $2.04 billion on film production. This figure is approximately half of China’s output. The UK government actively supports the industry with tax incentives for film production, and Pinewood Studios stands as a notable film production hub in the United Kingdom. In 2016, the British film sector exhibited a modest recovery, posting a 0.04% growth compared to the previous year’s figures. The UK’s film production value escalated from $16 million (0.18%) in 2015 to $17 million (0.19%) in 2016. The British film industry has produced some of the most iconic films in history, such as James Bond and Harry Potter.
JAPANESE FILM INDUSTRY
Japan ranks as the fourth-largest movie industry, trailing the United Kingdom. However, Japan’s film market encountered a 21% contraction between 2007 and 2014 due to the high value of the Yen against foreign currencies, deterring foreign audiences from watching films in Japan compared to more cost-effective markets such as South Korea or Thailand. Nevertheless, since 2012, the Japanese government introduced incentives for productions that film domestically, offering tax breaks to overseas producers allocating at least 30% of their budget to Japan. This revitalized the local industry and enhanced its attractiveness to foreign studios. Notable films with scenes shot in Japan include “The Last Samurai” (2003), “Skyfall” (2012), and Disney’s animated blockbuster “Frozen” (2013).
In 2016, Japan’s film industry generated approximately $2 billion in revenue. Japan’s position as Asia’s largest film producer was relinquished in 2012 due to sluggish economic growth and the high cost of filmmaking. As of 2018, Japan boasted 3,472 movie screens, while China far surpassed this figure with over 40,000 screens. The industry produced 610 films and sold 180.2 million tickets in 2018, with 63.1% being domestically produced. Japan’s film industry boasts a rich history, dating back to 1987.
China may dominate as the largest film producer in Asia and the second-largest globally in terms of revenue. However, India holds a distinct title as one of the world’s oldest film industries and the largest in terms of film quantity. In 2017 alone, Bollywood studios churned out an astonishing estimated 18,650 movies, equating to nearly four film releases every day. The cumulative figure quickly escalated to an astounding 11,000 films.
In 2016, India’s Bollywood industry secured over $1.9 billion in profits. The majority of Indian films are produced in Hindi or English, facilitating their export. Bollywood, renowned for its Hindi-language productions, is India’s primary movie producer. Despite India’s substantial population and deep filmmaking heritage, it lags in cinema screen availability compared to other major film producers. The screen-to-population ratio in India is 1 to 96,300, in stark contrast to the United States’ ratio of 1 to 7,800 people.
SOUTH KOREA FILM INDUSTRY
The South Korean film industry has grown in recent years, thanks to the success of films such as Parasite and Squid Game. It is now the fifth-largest film industry in the world, with a box office revenue of over $1 billion in 2022. The South Korean film industry is known for its high-quality productions and its unique stories.
FRANCE FILM INDUSTRY
The French film industry is known for its arthouse and independent films. It is the sixth-largest film industry in the world, with a box office revenue of over $800 million in 2022. The French film industry has produced some of the most famous and influential films in the world, such as The 400 Blows and Amélie.
GERMANY FILM INDUSTRY
The German film industry is known for its experimental and innovative films. It is the eighth-largest film industry in the world, with a box office revenue of over $600 million in 2022. The German film industry has produced some of the most important films in world cinema, such as Metropolis and The Cabinet of Dr. Caligari.
CANADA FILM INDUSTRY
The Canadian film industry is known for its diversity and its support for independent filmmakers. It is the ninth-largest film industry in the world, with a box office revenue of over $500 million in 2022. The Canadian film industry has produced some of the most acclaimed films of recent years, such as Nomadland and Crouching Tiger, Hidden Dragon.
AUSTRALIA FILM INDUSTRY
The Australian film industry is known for its unique and quirky films. It is the tenth-largest film industry in the world, with a box office revenue of over $400 million in 2022. The Australian film industry has produced some of the most popular films of all time, such as Mad Max and Crocodile Dundee.
The top 10 largest film industries in the world are all dynamic and growing industries. They produce a wide range of films that are enjoyed by audiences all over the world. The film industry is a major contributor to the global economy and plays an important role in promoting national identity and culture. The size of a film industry can be measured by a number of factors, including box office revenue, the number of films produced, and the number of people employed in the film industry.