Headlines from China: How Chinese Conglomerates Fail to Conquer the Local Film Market

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Left to right: “Transformers: The Last Knight” & “Never Say Die”

How Chinese Conglomerates Fail to Conquer the Local Film Market

With a string of collapsed investment deals attracting attention in 2017, it’s easy to make people believe that the Chinese government’s tightened control over overseas investments hinder Chinese conglomerates’ expansions in the entertainment industry. However, in this opinion piece, the author believes that it’s these companies’ misjudgment of the market holds them back from success. The history is proving that it was a wrong move for Chinese companies to invest heavily in Hollywood, as the American entertainment industry is gradually being dominated by digital companies, such as Netflix, Amazon, and Apple. While Hollywood companies such as Legendary Entertainment, Studio 8, and Oriental DreamWorks bring more disappointment than success to their Chinese investors, smaller Chinese studios, such as Mahua FunAge and Spring Era Films, are making significant contributions to the growth of the Chinese film market. Read more on Ent Group

London-based Zycon Media Sets Co-production Deals with China’s DeZerlin 

China’s DeZerlin Media and London-based Zycon Media signed an agreement to co-produce ten animated films and ten animation series with a total investment of 1 billion yuan ($155 million), according to an official announcement made on January 12. The two companies have secured international A-listers to dub for their next animated film Watch the Skies, which is expected to release in the second half of 2018. Founded in 2010 in Qingdao, China, DeZelin has grown into one of the preeminent IP and content development studio in China. Read more on 163.com

Former Chairman of Hunan TV & Broadcast Intermediary Co. Arrested for Bribery

Long Qiuyun, the former Chairman of Hunan TV & Broadcast Intermediary Co. is arrested for bribery, according to Hunan Daily. Since Long Qiuyun abruptly resigned from the company in October 2017, there have been rumors that he is being investigated. As the CEO of the company, Long has made significant contributions in leading the company’s IPO back in the 1990s and the marketization of TV broadcasting business in Hunan province. Listed on the Shenzhen Stock Exchange since 1999, Hunan TV & Broadcast Intermediary Co. is one of the best performing Chinese media companies in the stock market. Read more on yulechanye

Feng Xiaogang’s ‘Youth’ Extends Theatrical Run

According to an official announcement made today, the theatrical run of Feng Xiaogang‘s latest film Youth will be extended to February 15, which is the eve of 2018 Chinese New Year. Since it opened on December 15, the film has raked in about 1.4 billion yuan ($216 million), making it the highest grossing arthouse film in the history of Chinese cinema and the highest-grossing film ever made by Feng Xiaogang. Read more on Mtime

 

 

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