The overseas gross of Chinese films dropped by 48 percent between 2011 and 2012, but private companies and a new genre gave the industry more potential than ever before, according to a report released by the Institute for International Communication of Chinese Culture on Wednesday.

Jointly founded by Beijing Normal University and International Data Group, the institute aims to promote Chinese culture across the world.

"China's domestic box office has been booming in recent years, but Chinese films' exposure and influence in the global market has not lived up to many people's expectations," said Huang Huilin, professor of Beijing Normal University and one of the report's compilers. "The report tries to study the films' performance in the global market and how that can be improved."