Why China is Crucial to Movie Makers

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July 8 (Bloomberg) -- IMAX CEO Richard Gelfond discusses the “Transformers” success and why China is the top international movie market for box office ticket sales. He speaks with Betty Liu speaks on “In The Loop.” (Source: Bloomberg)

Could be the biggest movie ever in china?

There is no question about it.

If you look at the numbers, they are shattering every record.

Imax, our opening weekend, doubled the previous record.

It was poor -- 4.5 million dollars, the record, and this weekend we did about $10 million.

What is more interesting is the transformers did better in china than in the u.s.. i think it will do a higher growth in china than it does in the u.s., and this is early signs of a trend we will see into the future.

China is going to pass the u.s. in terms of box office in 2018, 2020. it is not just the u.s. box office when people think about them.

It is the u.s. and china.

What is great about this film?

Great answer -- great question.

It is a nuanced answer.

Michael bay did so much to appeal to chinese sensibilities.

About one-third was filmed in hong kong or mainland china.

The world premiere was in hong kong.

There were premieres in shanghai.

The premiers were pretty close to the release of the film in the u.s.. it was worldwide, and the best thing they did in the film was they had a reality show in china where the contestants, the three winners, got to be in the movie "transformers." people watched and were really excited, and they were already pretty prepped when the movie opened.

It had chinese sensibility.

What happened in the boxed -- box office, they used to be domestic, and then made for international audiences, and now they are being made with chinese offices -- audiences in mind.

We have a chart of ticket sales in china in 2013, and they far surpassed the next closest international market, which is japan.

$3.6 billion.

Japan at $2.4 billion, and a u.k. pretty far behind at $1.7 billion.

Do you expect that to widen?

No question.

It will widen over the united states.

In hollywood, are they waking up to this -- will we see more chinese characters in hollywood movies?

It will be more about china?

I am smiling when you say that because i was on a panel in china at the beijing film festival and some u.s. executive said it was easy, put some chinese characters in the movie or film something on hunan road and it will sell all over the world.

Is that true?

That is not true.

You have to hit the culture.

That is michael bay did.

He integrated the chinese culture into a global story -- and that is all we will see more of, not just to china, but to russia, and real actors from the countries.

But only in big box office rollers?

Some of the more dramatic movies do not play well in china.

You will see the rise of local films.

We show chinese films in china.

There was a russian movie called "stalingrad" and it was made by a russian studio.

I think the middle market will be filled with more local productions which will be dramas, comedies, because comedy is somewhat local, but the big block asserts will be more local stories.

Richard gelfond, stay with me.

You are my guest post for the hour, richard gelfond of imax.

China's growing prosperity.

Is the bubble bursting for expensive cupcakes?

One bakery chain is calling it quits today.

This text has been automatically generated. It may not be 100% accurate.

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