Headlines from China: CCTV to Air US-China Animation Co-production ‘Transformers: Nezha’

China Central Television to Air US-China Animation Co-production ‘Transformers: Nezha’

American media company Hasbro is partnering with China Central Television(CCTV) to broadcast a brand new animated series based on “Transformers” and “Nezha,” which is one of the best-known characters from Chinese mythology. The co-production project, named Transformers: Nezha, was first revealed in July 2017 when Hasbro president Stephen J. Davis. and his team visited CCTV Animation Inc. Transformers: Nezha is expected to premiere during prime time on CCTV in the third quarter of 2019. After the release on CCTV, the series may be released globally. Read more on Mtime

Leading Chinese Toy Company Alpha Group Reports A $238 Million Loss in 2018

Leading Chinese animation and toy company Alpha Group Co. released its 2018 annual report on April 29. The report shows a total revenue of RMB2.84billion (US$422 M) and a net loss of RMB1.63 billion (US$238 M). Ranked No. 81 on the list of Top 150 Global Licensors, the company’s core business encompasses toy production, animation production, licensing, and theme parks. According to this article from Ent Group, Alpha Group’s poor performance was closely related to its asset impairment of nearly RMB1.5 billion last year. Influenced by a series of investment failures and the bankruptcy of retail company Toys “R” Us, Alpha Group eventually had to face negative earnings in 2018. Read more on entgroup.cn

Chinese Authority Stops Releasing Official Box Office Data in Real Time

Today when many online ticketing platforms can provide their own real-time statistics, the most authoritative data source for the Chinese box office is still from China’s Stand Office of Government Fund of National Film Development. Each day, online ticketing platforms, such as Maoyan and Tao Piaopiao, estimate box office revenues based on data sent from movie theaters. Then the next day, the collected data will be re-audited according to the official data released by the authority. However, this procedure is no longer applicable. Though no official notification has been released, many industry professionals have confirmed that the Stand Office of Government Fund of National Film Development has suspended the release of real-time box office data to the public since May 1. According to WeChat media account yuemuchina, the change may be related to the following conditions: first, the number of moviegoers has been going down quite dramatically since the beginning of 2019; Secondly, the Chinese box office heavily relies on Hollywood movies this year. Meanwhile, China and U.S. are reportedly resuming the negotiation on film import policies. Last, the film exhibition sector in China is going through consolidation while the competition between online ticketing platforms and cinema chain’s own ticketing apps are becoming more fierce. Read more on yuemuchina