China surpasses Japan to become the second largest movie market after U.S

Chinese audiences contributed $2.7 billion in box office sales in 2012, making China the second largest movie market outside North America.

Motion Picture Association of America (MPAA) revealed the box office revenue for North America is $10.8 billion. China comes the second with an estimate of $2.7 billion, a 37 percent increase from last year. Following up is Japan ($2.4 billion), U.K and France ($1.7 billion each), India ($1.4 billion), Germany and South Korea ($1.3 billion each), Russia and Australia ( $1.2 billion) and Brazil ($800 million), reported by The Hollywood Reporter.

The cooperation between Hollywood and China in the movie industry is becoming more and more important. Even though China still has the policy of several “blackout periods,” when there are no screenings for foreign films in order to protect the Chinese film industry, China Film Distribution releases several blockbusters on the same date, helping to make more profits and prevent piracy, reported The Wall Street Journal.

Overall, as MPAA chairman and CEO Christopher Dodd said, “It was a great year for movies."