DreamWorks Oriental's "Kung Fu Panda 3" has exceeded the record of 956 million yuan set by "Monkey King: Hero is Back," to become China's biggest animated film of all time with a box-office haul of 975 million yuan with a 30-day theatrical extension still to come, as reported by Deadline.
Jeffrey Katzenberg, CEO of Dreamworks Animation, predicted this outcome when he spoke with analysts a week ago about the film company's quarterly earnings.
According to Katzenberg, the performance of the company in China is proof that they are "building a world-class studio for what will soon be the largest entertainment marketplace in the world."
"Kung Fu Panda 3" was released in the United States and China on Jan. 29. It raked in $58.3 million in its opening weekend in China, playing on 3D and IMAX screens.
The film set a Saturday record for previews a week before its release in January, selling $6.4 million in tickets in only three hours.
In addition to the English-language version of the film that was released in most parts of the world, there is also a Mandarin-language version, which was reanimated to fit body movements and vernacular of the local voice cast featuring Jackie Chan.
Raman Hui, who has worked with DreamWorks several times before, was a consultant for the film. Hui is better known in China as the director of "Monster Hunt," the former top-grossing film of all time in the country, until it was recently surpassed by Stephen Chow's "The Mermaid," which is still in theaters.
"Kung Fu Panda 3" is the third in a franchise that has become well-loved in China, the country where the film is set. The franchise has grown with the Chinese movie market over the years, with the first one making $26 million in 2008 and the second grossing $92 million in 2011, making it the highest grossing animated film at the time.
Recently, "Kung Fu Panda 2" was surpassed by "Monkey King: Hero is Back." However, "Kung Fu Panda 3" has reclaimed the throne.
In order to promote the film, a Beijing press conference was held in November and a Shanghai premiere took place in January, with Chan, Jack Black and Kate Hudson attending.