1. LINE

      Text:AAAPrint
      Economy

      Chinese investment helps Hollywood produce for global audience

      1
      2016-06-21 10:08China Daily Editor: Xu Shanshan

      China's investments and acquisitions help Hollywood continue to globalize its products as well as connect with the Chinese market, said senior executives from U.S. movie producers.

      "For the business to work, you need to work on a global stage," said Martin Willhite, chief operating officer and general counsel of Legendary Entertainment, which has produced such blockbuster films as Godzilla.

      "From the earliest days, the plan (of Legendary) is to reach and deliver the products to the biggest audience possible," Willhite added.

      The company was building a global product instead of a U.S. product, said Willhite, talking at the Select LA Investment Summit on Friday. He said Legendary decided to expand its global reach by setting up an office in China in 2011 to understand how the industry worked there.

      Early this year, Legendary was acquired by China's Dalian Wanda Group for $3.5 billion.

      "As the company grew, we understood globalization, frankly, has more success," said Willhite, adding that Legendary has gone through having different kinds of capital partners - from private equity firms to institutional capital and to strategic and financial investors.

      He said it was "enormously fortunate" to establish the business relationship with Wanda because "when you can align your strategy with someone who can share your perspective globally, you become extraordinary".

      Jack Gao, vice-president and CEO of Wanda Cultural Industry Group, referred to the movie Warcraft, which was produced by Legendary and had a record-breaking opening in China. It has made $200 million so far, and 90 percent of the tickets were sold via mobile internet.

      Thomas McGrath, COO of STX Entertainment, said China was a much more profitable market than the U.S., using the example of Transformers.

      Transformers grossed $400 million in the U.S. and spent close to $80 million on marketing, but the same film earned $480 million in China on $20 million in marketing, he said.

      "The reason is the online tool is far more highly developed in China than in the U.S., with greater reach to the audience and more use by the consumers, and interconnectivity of the users," McGrath said.

      Partnerships with Hollywood are part of Wanda's global expansion strategy, from studios to distribution to cinema lines, Gao said.

      "We are in the very early stage in the industry as well as in the process of globalization," said Gao, adding that Wanda aims to be a "strategic investor" by adding value to Hollywood and connecting Hollywood moviemakers to the Chinese market, rather than taking on Hollywood.

      He said Wanda had a clear vision called "2-2-1-1", which means $200 billion in assets, $200 billion market cap, $100 billion annual revenue and $10 billion annual profit.

      In order to grow 20 percent every year, Gao said Wanda was transforming from a commercial property business into a cultural one, mainly film and sports, and the move created "enormous growth" - more than 40 percent last year.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 国产成人在线免费观看| 嫩草在线视频www免费观看| 中文字幕无码不卡免费视频| 久久久无码精品亚洲日韩蜜臀浪潮| 在线免费观看h片| 国产啪亚洲国产精品无码| 一级一级一片免费高清| 亚洲国产精品综合久久一线| 免费在线观看自拍性爱视频| 免费一级做a爰片性色毛片| 国产成人亚洲精品播放器下载| 免费在线观看一级毛片| sss日本免费完整版在线观看| 综合亚洲伊人午夜网| 最好免费观看高清在线| 久久国产亚洲高清观看| 免费精品国产自产拍在线观看图片 | 亚洲欧洲精品成人久久曰| 日本不卡高清中文字幕免费| 羞羞漫画在线成人漫画阅读免费| 亚洲国产精品一区二区第四页| 黄色网站软件app在线观看免费| 亚洲韩国—中文字幕| 91麻豆最新在线人成免费观看| 国产成人精品亚洲2020| 亚洲av片一区二区三区| 国产午夜精品久久久久免费视| 77777_亚洲午夜久久多人| 免费观看的av毛片的网站| 国产精品永久免费视频| 亚洲国产综合专区在线电影| 成人无遮挡毛片免费看| ww在线观视频免费观看w| 久久精品国产精品亚洲毛片| 国产精品美女自在线观看免费| ssswww日本免费网站片| 91午夜精品亚洲一区二区三区| 亚洲国产精品毛片av不卡在线| 99re在线精品视频免费| 免费无码AV一区二区| 亚洲成人黄色在线|