Dalian Wanda’s film division is training up with Tencent Holdings’ gaming, film, and online reading units to develop intellectual property.
Wanda Cinema Line, the theatrical exhibition arm of Chinese real estate giant Dalian Wanda, is teaming up with tech giant Tencent to develop intellectual property (IP) across a range of platforms.
The partnership, unveiled at the Shanghai International Film Festival, will see the two companies collaborate on projects in film, TV, games, VR platforms and theme parks.
Edward Cheng, vice president of Tencent Pictures, joined Zeng Maojun, president of Wanda Cinema Line, and Liang Xiaodong, co-CEO of China Reading Co., Tencent’s online literature subsidiary, to announce the strategic partnership at the festival.
The first project to be developed, Battle Through The Heavens, started as a popular online fantasy novel before being adapted into an animated online series which was released on Tencent’s online video platform.
A new joint-venture between Tencent Interactive Entertainment Group (IEG) and Wanda will now own the permanent rights to the Battle Through The Heavens IP as the two companies work together to develop it further.
The first season of Battle Through The Heavens has wrapped, and a game developed by Tencent Timi Studio is due to launch at the same time as the TV series. It will be further adapted for film and theme parks.
Wanda Cinema Line recently announced it would be rebranding as Wanda Film Holding Co., and revealed plans to launch its own video streaming website this year.