Chinese box office spending will soar 88 pct by 2018

China's box office spending will nearly double by 2018 from 2013 with new cinemas and theaters providing room for growth, despite the rise of online streaming, an industry report said.

Box office spending is set to reach US$5.9 billion by 2018, an 88 percent jump from 2013, and China is already the second-largest cinema market in the world, PricewaterhouseCoopers said in its Entertainment and Media Outlook (2014-2018).

Chinese movies accounted for 68 percent of box office income in 2013. But as quota regulations for foreign films gradually loosen and partnerships between international film companies and domestic studios rise, there're more opportunities for international films.

The number of film admissions is set to grow to 642 million people in 2018 from 446 million in 2013 as more screens are rolled out across China, especially in lower-tier cities.

Cinema advertising revenue will have an annual compound growth rate of 12.8 percent to reach US$133 million by 2018, the report said.