Two headlines are casting a spotlight on a love affair between China and Hollywood being fueled by a soaring Chinese box office that could one day surpass the US as the world’s largest. One of the news bits shows just how big the Chinese box office is becoming, with word that domestic ticket sales soared 25 percent in the first half of the year. The other headline highlights the growing number of partnerships that are springing up, with industry giant Shanghai Media Group (SMG) reportedly in a deal to buy Galloping Horse, a Beijing production house whose assets include the Hollywood Digital Domain special effects house. Read Full Post…
The following press releases and media reports about Chinese companies were carried on July 11. To view a full article or story, click on the link next to the headline.
══════════════════════════════════════════════════════
Two interesting new reports about China’s box office paint very different pictures about the country’s movie industry. Everyone agrees the sector is growing at a rapid clip, and will probably eclipse the US over the next decade to become the world’s largest box office. But who exactly is fueling that growth is a subject of debate, with one report saying domestic productions are suddenly surging as another says Chinese film companies are boosting their appetite for foreign productions. The underlying factor behind this apparent paradox is a growing confluence between East and West, with foreign studios increasingly working with Chinese partners and customizing their films for Chinese audiences. Read Full Post…
Digital Domain gets new owner, Wanda expands Imax ties
A couple of news bits are highlighting China’s rapidly blossoming love affair with Hollywood, and also hinting at the turbulence we’re likely to see in the next couple of years as Chinese firms invest too much as they become smitten with show business. One of those deals has US digital effects house Digital Domain being taken over by a new Chinese owner less than a year after it was purchased out of bankruptcy by a Beijing-based film producer. The other has leading theater chain owner Wanda Group significantly boosting its ties with Canada’s Imax (Toronto: IMX), as it invests heavily in Imax’s big-screen technology. Read Full Post…
Paramount, Bona discover ups and downs of China film
New headlines from top Hollywood studio Paramount (NYSE: VIAb) and publicly listed China filmmaker Bona Film (Nasdaq: BONA) are showing both the huge potential of the China box office, and also the fickle nature of the broader film industry. In the more typical Hollywood style, Paramount has splashed across the headlines with word that it will join with 2 Chinese partners to co-produce the next installment of its blockbuster “Transformers” franchise. Meantime, Bona was decidedly lower key in announcing its latest quarterly results, highlighted by a slide into the red due to lack of hit movies. Read Full Post…
China is finding out quickly that Hollywood may be all glitter and sparkle on the outside, but it’s quite a different world to insiders where cutthroat competition is more the norm and laggards are quickly cast aside to the B-list or worse. That’s the message coming across from a new report saying Hollywood movies are taking a growing piece of the Chinese movie market since Beijing started allowing more US films into the market earlier this year. It’s also the message that Chinese firms are likely to learn the hard way as they try to buy into the Hollywood scene, as one Beijing company will probably learn after last week signing a deal to invest in a big-budget US film.
The following press releases and media reports about Chinese companies were carried on September 25. To view a full article or story, click on the link next to the headline. ══════════════════════════════════════════════════════
Kellogg (NYSE: K) Inks China JV to Gain Share in Breakfast, Snack Market (English article)
Hisense (Shanghai: 600060) to Develop Google (Nasdaq: GOOG) TV – Source (English article)
Galloping Horse in Winning Bid For Assets of Bankrupt Digital Domain (Businesswire)
Huawei Forecasts Consumer Device Sales to Grow 30 Pct Next Year (Chinese article)
Perfect World (Nasdaq: PWRD) Announces Departure of Shanghai Manager Davis Jian Li (PRNewswire)
