Headlines from China: Chinese Moviegoers’ Hollywood Fatigue

Chinese Moviegoers’ Hollywood Fatigue

Last Friday, the highly anticipated DC superhero movie Shazam! Opened in China with a dominant 33.9% of screen share. However, dominant screen share didn’t lead to box office dominance. Shazam! was soon surpassed by Hong Kong film P Storm. On the fifth day of its China release, Shazam! was even beaten by Indian film Andhadhun. Over the past 20 years, Hollywood movies have gradually lost their magical aura in China. Especially in recent years, Chinese moviegoers’ Hollywood fatigue is more and more obvious. As special effects can’t easily impress Chinese audience any more, lack of creativity and clichéd storytelling become real problems. In addition, compared to local movies, Hollywood movies are not exceling in winning over small-town audiences who are growth engine of China box office in recent years. Read more on dumou

Streaming Giant iQiyi Receives Top Advertising Award

On April 11, an advertising summit took place in Shanghai to celebrate the 40 years’ history of the advertising industry in China. The event was initiated by China’s first advertising trade publication China Advertising. Companies that made extraordinary contributions to the development of China’s advertising industry were awarded at the summit. iQiyi, as the leading platform for video streaming, received the extraordinary contribution award in the new media category. Thanks for its highly popular original drama series and variety shows, iQiyi has been excelling in helping marketers integrate brands in entertainment content through their strong AI technology and creativity. Read more on xinyingxiao

DMG Entertainment Is Receiving “Special Treatment” In The Stock Market

Since April 8, the stock of China’s DMG Entertainment has been labeled ST (special treatment) by the stock market regulators. The trading name of the stock is also changed from “DMG Entertainment” (印纪传媒) to “ST DMG” (ST印纪). The ST label is often issued for the regulators to warn investors about risky stocks. Once a darling in the capital market, DMG Entertainment participated in productions of many well-known theatrical films including Iron Man 3. The company went public on A-share Market through a reverse merger in 2014. In March 2017, its market value was more than RMB46 billion. Read more on maoyinwenyu