Headlines from China: “Hollywood Lacks Curiosity” Luc Besson Says

“Hollywood Lacks Curiosity” Luc Besson Says

On August 19, acclaimed French director Luc Besson came to Beijing to promote his latest film ‘Valerian and the City of a Thousand Planets’. At the post screening Q & A session, Besson shared the film’s behind-the-scene stories and his understanding of sci-fi movies with Chinese audiences. In addition, as an advocate for world cinema, Besson criticized Hollywood for not having enough curiosity and not providing enough room for foreign films to thrive. Read more on Mtime

Alibaba and Tencent to Invest in LeEco?

LeEco’s CEO Liang Jun recently appointed eleven new executives, which brought LeEco back to the center of attention. Meanwhile, after Jia Yueting left LeEco, LeEco’s new Chairman Sun Hongbin has met with various major industry players to explore new partnerships. According to Caixin, JD.com is interested in the business of TV hardware; Tencent is interested in partnering with LeEco Pictures; And Alibaba is entertaining the idea of investing in LeEco. Read more on yuledujiaoshou

Despite Losing Money, Alibaba is Determined to Conquer the Film Market

Alibaba Group recently released the company’s financial data from April 1, 2017 to June 30, 2017. The company’s overall revenue increased 56% compared to the revenue of the same period last year, which mainly due to the continual growth of the company’s e-commerce business. Meanwhile, the company’s income brought by digital media and entertainment is much less, and the net profit is negative. However, Alibaba’s recent initiatives, such as establishing a new talent agency, indicate that the company has no intention of reducing its investment or slowing down its expansion in the media and entertainment sector. Read more on Sansheng

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What You Don’t Know about the Hengdian Group

When it comes to Hengdian, it is natural for people to refer it to the world’s largest film studio in China. While Hengdian Group is well-known for its film studio, the company was originally established as a manufacturer of magnetic materials and electronic components. Recently, Hengdian Group filed IPO for the second time, not for Hengdian Studio, but for Hengdian Pictures, the company’s much smaller subsidiary specializing in film exhibition, distribution, and merchandising. Read more on yulezibenlun

Can VR Movies Make Money Afterall?

After gaining enormous attention in China between 2015 and 2016, VR seems to start losing its popularity, especially in the capital market. While this can be discouraging to VR filmmakers, some of them are determined to continue their adventurous VR journey. This year, four Chinese language VR movies are selected to screen at the Venice Film Festival, which again brings hope for the future of VR. However, given the high production costs, it remains to be a challenge for VR filmmakers to breakeven or even generate revenue by making VR movies. Read more on yulezibenlun