Headlines from China: Five Box Office Hits to Be Re-released to Support Movie Theaters in China

Five Box Office Hits to Be Re-released to Support Movie Theaters in China

Yesterday, China Film Co.’s distribution arm in Beijing announced that the company would send the film prints of five box office hits to movie theaters for re-release. The five movies include American Dreams in China, Wolf Totem, Wolf Warrior II, The Wandering Earth, and Capharnaüm. China Film Co. has reached an agreement with the rights holders of these five films to let cinemas to collect full box office profits in order to support movies theaters in China. Prior to COVID-19 crisis, distributors and film rights holders collect 43% of box office profits. There will be more batches of films to be re-released this way. It’s rumored that the second batch will include Harry Potter and The Lord of The Rings. Read more on Mtime

Update: A 4K restoration of Harry Potter and the Sorcerer’s Stone will be released in the 3D format in China soon, Warner Brothers said on Weibo on Mar.19. The release date has yet to be announced.

A Look At Major Chinese Video Platforms’ 2019 Financial Reports

Today, Chinese video platforms Bilibili and Tencent Video released their financial reports for FY2019. Here is a look at these two reports and the iQiyi FY 2019 report, which was released last month. Overall, the three reports show that 2019 wasn’t a great year for long-form videos, as short-video platforms, such as Douyin and Kuaishou, continued to gain popularity and market share, and poses a bigger threat to platforms like Bilibili, iQiyi and Tencent Video. Another observation based on the reports is that iQiyi and Tencent Video make increasing efforts to adopt Bilibili’s video formats, such as UGC, PGC and mid-length videos, while Bilibili makes increasing efforts to adopt Tencent Video and iQiyi’s business model. Read more on htysda