US and China Reach Film Agreement

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Tue, 02/28/2012 - 19:00 -- Nick Dager

U.S. and Chinese negotiators have reached an agreement that is designed to significantly increase the number of U.S. films allowed to be shown in Chinese movie theaters and provide a more equitable share of revenue for U.S. film companies a major priority for the Motion Picture Association of America. In a statement former Senator Chris Dodd chairman and CEO of the MPAA said: “This is a major step forward in spurring the growth of U.S. exports to China. It has long been a top priority for the MPAA and it is tremendous news for the millions of American workers and businesses whose jobs depend on the entertainment industry. “This landmark agreement will return a much better share of the box office revenues to U.S studios revising a two-decade-old formula that kept those revenues woefully under normal commercial terms and it will put into place a mechanism that will allow over 50 percent more U.S. films into the Chinese market. “We thank Presidents Obama and Hu as well as Vice Presidents Biden and Xi for their leadership on this issue along with the negotiators from both countries who worked so tirelessly to reach an agreement especially U.S. Trade Representative Ambassador Ron Kirk and his team for their enormous commitment to this effort. “By promoting the growth of a legitimate marketplace for U.S. movies in China this agreement will also complement efforts to fight movie piracy and help protect the jobs of workers in both countries whose livelihoods are dependent on a healthy entertainment industry.” The Motion Picture Association of America