Headlines From China: Cultural And Entertainment Industry Trends In 2018

Cultural And Entertainment Industry Trends In 2018

With China’s “two sessions,” the annual meetings of the national legislature and the top political advisory body opening in Beijing, and showbiz veterans attending the meetings, a few trends have emerged that will likely affect the Chinese cultural and entertainment industry this year. Other than AI, big data, and blockchain being the most-discussed buzzwords, questions have been raised about internet censorships and content regulations, especially when it comes to imported TV and film works. The showbiz representatives are contributing more to the meetings this year, proposing that public opinions matter in entertainment, cultural and film. Read more on shouxiyuleguan

Recommended ReadingChinese TV Guilds Issue Salary Cap for StarsBy Jinghua Qian

Chinese Films No Longer Dependent On Celebrity Actors

None of the highest-grossing films in the last few months, including Chinese New Year box office winner Operation Red Sea, record-breaking action film Wolf Warrior 2, and tear-jerker drama film The Ex-File 3: The Return of the Exes, feature a star-studded cast, proving that there are more factors that influence a film’s box office than its cast. Although some films have heavily relied on its cast to guarantee box office success, it is clear that Chinese films are becoming more content-driven. Operation Red Sea quickly topped the box office because of its action-packed theme and high production quality; similarly, The Ex-File 3 was able to resonate with the audiences telling breakup stories. Featuring fewer highly popular celebrities also helps films be cost-effective, which has long been a challenge in the Chinese film industry. Read more on yulechanye

Animation Streaming Platform Bilibili Files For U.S. IPO

China’s leading animation streaming platform Bilibili has filed for U.S. IPO and aims to raise $400 million in capital. It plans to list on the NYSE under the symbol BILI. Established in 2009, Bilibili has become the largest video, gaming, and streaming platform in China, with 72 million monthly active users in the fourth quarter of 2017, 82% of whom are young users born between 1990 and 2000. Although currently loss-making, Bilibili is growing very fast, with an average annual growth of over 300% in revenue in the last two years. Read more on TMTpost

Jebsen Surpasses Enlight Media and Huayi Brothers in Profit

Jebsen & Co Ltd, a company that has invested in Operation Red Sea, makes 1.25 billion in profit last year, more than Enlight Media and Huayi brothers. So far, Operation Red Sea has earned 3 billion yuan in box office ($472 million), and it is still growing. Last year, Jebsen was also behind the production of Never Say Die, and Wolf Warrior 2, both of which did exceptionally well at the box office. Jebsen, a privately-held company, has only been involved in film and TV for the last four years, but has already contributed 7 billion yuan in investments. Currently, 63% of the company’s revenue come from film and TV works. Original content and and licensing deals are also in Jebsen’s plans in the future. Read more on entgroup.cn