Headlines from China: Tencent Acquires Stake in Hollywood Studio Skydance Media

Tencent Acquires Stake in Hollywood Studio Skydance Media

Hollywood studio Skydance Media has inked a deal with Tencent to sell a little less than 10 percent of its stake to the Chinese tech giant, according to an official announcement made by Skydance. The funds from Tencent will be used in producing films and distributing content in China. In addition, the two companies will collaborate in TV, interactive content, and VR. Founded by David Ellison, Skydance Media has produced hit movies, such as Mission Impossible 5, Terminator Genisys, and Star Trek XII. In 2017, Skydance Media launched a gaming and VR division called Skydance Interactive. Read more on Ent Group

Box Office of ‘Wonder’ Projected to Exceed $30 Million in China

American drama film Wonder opened in China last Friday and has raked in over 90 million yuan ($14 million) as of yesterday. In addition, the film is the highest rated recent release in China with a score of 8.6/10 on review site Douban. According to ticketing site Maoyan’s prediction, the total ticket sales of the film will exceed $30 million. In addition to Lionsgate, producers of Wonder also include China’s Hunan TV. Since Lionsgate and Hunan TV formed a partnership in 2015, the two companies have collaborated on several projects, including hit movies Hacksaw Ridge and La La Land. Read more on yuledujiaoshou

Success of ‘Dangal’ and ‘Secret Superstar’ Drives Up Prices of Buy-out Films from India

Indian film Secret Superstar continues to top box office charts and has replaced PK as the second highest-grossing Indian film ever released in China. Due to the success of Secret Superstar and Dangal, Chinese distributors pay much more money to import Indian films nowadays. According to several industry experts, the price of a big-budget Indian film has increased to millions of dollars. Another interesting fact is that the top five highest-grossing Indian films in China all star Aamir Khan. It remains to be seen if any upcoming Indian film that doesn’t star Aamir Khan will win over the Chinese audience. Read more on TMT Post.

‘Mamma Mia! Here We Go Again’ May be Released in China

A Chinese trailer of the upcoming romantic musical comedy film Mamma Mia! Here We Go Again has been released recently. The film will open in the U.S. on July 20 and is likely to score a China release, according to sources familiar with the matter. Adapted from the musical of the same name, the “Mamma Mia” series centers around the mother-daughter relationship between Donna (Meryl Streep) and Sophie (Amanda Seyfried). Read more on Mtime