Young People’s Favorite Bilibili Invested $66 Million in Film and TV Studio Huanxi Media
Young people’s favorite video platform Bilibili has taken a 9.9 percent stake ($66 million in U.S. dollars) in Huanxi Media, the rising film and TV studio whose major shareholders including directors Xu Zheng, Zhang Yimmou and Ning Hao. Along with the deal, Huanxi Media has also signed a 5-year cooperation agreement with Bilibili that requires Huanxi to share the streaming rights of the company’s tentpole films and high-end series with Bilibili during the agreed time phrase. Bilibili, on the other hand, will launch a channel on its platform dedicated to Huanxi’s contents. The two companies will share in the revenue generated from the subscription and transactional VOD sales attributable to Huanxi content. Read more Chinese Business Network
iQIYI Pictures Unveiled a Slate of New Films at Beijing International Film Festival
The film arm of Chinese streaming firm iQiyi–iQiyi Pictures, recently announced a new slate of original film projects at the 10th Beijing International Film Festival. The unveiled films cover a variety of genres from sports and action to crime and thrillers. “All 13 upcoming films were carefully selected from hundreds of ideas and stories,” Ya Ning, president of iQIYI Pictures, told the Global Times in an email interview. Only 343 ideas out of 1,486 applicants were able to reach the initial evaluation section, of which 73 were pitched at a green light meeting. Films that are based on real events and real people is becoming a major trend. Read more iQiyi7
