Headlines from China: 132 Chinese Entertainment Companies Received Investments From BAT

132 Chinese Entertainment Companies Received Investments From Alibaba, Tencent or Baidu

Many entertainment startup founders believe that if their companies continue to do well in China, most likely they will end up being acquired by or receiving investments from Baidu, Alibaba or Tencent (BAT). This report by WeChat media account Entertainment Capital takes a look at the 132 Chinese entertainment companies that have received investments from Alibaba, Tencent, or Baidu and summarizes BAT’s investment strategies in film & TV production, anime, talent management, IP development and merchandise. This year, Tencent continues to dominate the anime sector and expands in film & TV production by acquiring New Classics Media. In addition, Tencent starts investing more in variety shows and talent management. Alibaba’s interest remains in film. In addition to investing in major Chinese studios such as Huayi Brothers, Enlight Media, and Bona Film Group, Alibaba became the second-largest shareholder of Wanda Film this year by acquiring 12.77 % of stake in the company. In addition, Alibaba also invests in several cinema chains, and owns online ticketing platform Tao Piaopiao and online video site Youku. Baidu has also been trying to strengthen its power in the film sector this year by expanding into online ticketing and talent management through its entertainment unit iQiyi. Read more on Entertainment Capital

‘Wolf Warrior 2’ Producer Beijing Culture Reports Profit Jump For First Half of 2018

Beijing Culture, a travel company turned entertainment firm, became well known last year as a producer of box office smash hit Wolf Warrior 2. This year, the company impressed the film industry again as a producer of this summer’s box office winner Dying to Survive. Recently, the company released its semi-annual financial report for the first half of 2018. According the report, Beijing Culture’s total revenue jumped by 82.03% year-over-year to 303 million yuan ($44.29 million). Net revenues increased by 14.43% to 44.24 million yuan ($6.47 million yuan). 83 percent of its total revenues came from the company’s business in the cultural and entertainment sector while the remaining revenues came from travel and hospitality. Read more on yuleguan001

Emerging Chinese Filmmaker Bai Xue’s ‘The Crossing’ Enters TIFF

Chinese drama film The Crossing, which is directed by emerging director Bai Xue and executive produced by Tian Zhuangzhuang, has been selected to screen at this year’s Toronto International Film Festival as the opening film of the “Discovery” section, which showcases films that are typically the director’s first or second feature film. The film, which follows the journey of teenage girl Pei Pei as she navigates life between Hong Kong and Shen Zhen, is the first film incubated by Wanda Pictures’ “Jing Ying (Elite) +” Project, which aims to discover and support emerging filmmakers. read more on Mtime