Stock of ‘Long Day’s Journey’ Investor Plunges $283 Million
As the box office of Bi Gan’s arthouse film Long Day’s Journey Into Night plummeted dramatically after its opening day, the stock of the film’s major investor Huace Media plunged RMB 1.6 billion ($283 million) yesterday, which made the value of the company reached the lowest point since listed. On December 31, Bi Gan’s acclaimed second feature film Long Day’s Journey Into Night earned an astonishing $37.9 million in its box office debut. But then, the next day, the film’s ticket sales dropped by 96% to $1.64 million. The film had a wildly successful opening thanks to a smart marketing campaign, or false advertising as many people would now describe it. Read more on Mtime
Beijing Culture to Finance 35% of Lu Chuan’s New Film
Chinese filmmaker Lu Chuan started filming his upcoming sci-fi action movie 749 Bureau in late 2018. On December 28, Lu posted a letter to the public, revealing that an investor who committed to covering half of the film’s budget backed out one week before the shooting. Lu started the filming nonetheless, although it was a risky move. Luckily, the film just attracted another investor on board. The new investor is Beijing Culture, which has invested in several hit films over the past two years, including Wolf Warrior 2, Youth, and Dying to Survive. According to sources familiar with the matter, Beijing Culture looked at the footage from Lu’s recent shooting and decided to finance 35% of the film. This makes Beijing Culture another major investor of the film in addition to Huayi Brothers and Tencent Pictures. According to a producer from Beijing Culture, 749 Bureau inherits Lu’s realistic style in Kekexili: Mountain Patrol and City of Life and Death. Read more on Mtime
Web Movies Strive to Please Female Audiences
According to the 2018 Chinese Film Industry Research Report, 62.36% of web movie audiences are male, while 58.6% of theatrical audiences are female, which reveals the fact that web movies are more popular with male audiences in China. As female consumers have demonstrated their purchasing power in many other areas, several web movie producers, such as Mango TV and Yingmei Media, are planning new shows that cater to female audiences. Read more on China Daily
