Headlines from China: Disney is Our Role Model Says Wanda Film President

Zeng Maojun

Disney is Our Role Model Says Wanda Film President

On June 19, Wanda Film’s press event “Wanda Night” took place during the 21st Shanghai International Film Festival. Zeng Maojun, President of Wanda Film, introduced the company’s business activities across the world. Zeng stressed the importance of integrating film IPs into the companies’ other products and services, saying that Disney is Wanda’s role model in terms of IP development and monetization. Entering the film industry as an exhibitor, Wanda Group now also owns production and distribution companies, and Qingdao Movie Metropolis. At the event, Wanda Film also officially formed strategic partnerships with NetEase, online publisher Chinese All, and Original Force Animation. In Zeng’s opinion, only those companies that operate both online and offline will thrive in the long run. Read more on ifeng

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Will Alibaba Acquire Douyin One Day?

Douyin’s growth momentum seems unstoppable. Recently, the short-video app announced that its number of daily active users had exceeded 150 million, which made some media outlets wonder: will Alibaba acquire Douyin one day? Such a guess was made based on the following reasons: First, China’s short video market has been seeing explosive growth this year, yet Alibaba doesn’t have its own short-video platform. Second, web traffic is crucial to Alibaba’s e-commerce business and Douyin can bring huge traffic. Third, Alibaba and Douyin’s parent company Jinri Toutiao have a common rival, which is Tencent. Last but not least, Alibaba has the financial capability to make such an acquisition. While there might be enough reasons for Alibaba to buy Douyin, Jinri Toutiao doesn’t seem to have enough reasons to sell the hit app at the moment. However, if Douyin ever wants funds from other Chinese tech giants, Alibaba is a likely investor. Read more on TMT Post

“Industrialization” Is The Key Word for China’s Film Industry

“Industrialization” has become the word that’s constantly being brought up at recent film industry summits, conferences and forums in China. In the context of China’s film industry, industrialization entails cultivating specialized talents, refining film law, setting up industry standards, and streamlining production, distribution and exhibition processes. At the 21st Shanghai International Film Festival, a panel on the industrialization of China’s film sector is presented with top executives sharing their opinions on this topic. Village Roadshow’s Ellen Eliasoph and Huayi Brothers’ Ye Ning stressed the importance of skilled screenwriting, professional producing and technical craftsmanship. Li Jie, Senior Vice President of Alibaba Pictures and CEO of Tao Piao Piao, emphasized internet companies’ role in helping production companies minimize risks, control costs and sell tickets. In addition, Li says that industrialization requires film companies improve their ability to continuously product hit products and diversify revenue sources through IP licensing, merchandising and theme parks . Read more on finance.qq.com