Headlines from China: Is IP Losing Its Magic in China?

Is IP Losing Its Magic in China?

While China’s film industry is obsessed with IP, this year’s most successful films, such as ‘Wolf Warriors 2‘, ‘Paths of the Soul‘ and ‘Twenty Two,’ are not based on popular IPs. In addition, many domestic IP films failed both commercially and critically, such as fantasy drama ‘Once Upon A Time’ and suspense crime film ‘Guilty of Mind’. After all, what makes films magical is their power of storytelling. Relying on IPs can’t be a sustainable solution for the Chinese film industry. Read more on yingshidushe

Beijing Culture and Alibaba Pictures to Form a Strategic Partnership

On August 25 (Beijing Time), Alibaba Pictures and Beijing Culture Media Company announce that the two companies are forming a strategic partnership to collaborate in areas including film financing, production, distribution, and merchandising. The partnership is facilitated by the success of ‘Wolf Warriors 2’. Beijing Culture is a co-producer of the film, and supported the film through a valuation adjustment mechanism agreement. Alibaba’s Tao Piao Piao is a major online distributor, marketer, and ticket seller of the film. Both companies play important roles in creating the box office success of ‘Wolf Warriors 2’. Read more on China News

Weying Technology to Announce the Merger of Weipiao and Maoyan in September? 

Maoyan and Weying’s Weipiao are in the process of completing their merger deal, according a shareholder of Weying Technology. Weying will be evaluated based on the company’s recent series C+ financing,  according to which Weipiao is worth 7 billion yuan. In addition, Maoyan plans to seek IPO in Hong Kong after the merger. According to yulezibenlun, Weying Technology’s August shareholder meeting has been postponed to September, and Weying is likely to officially announce this merger at the meeting in September. Read more on yulezibenlun 

Beijing Enlight Media Concluded the First Half of 2017 with Revenue of 1 billion Yuan

On August 25, Beijing Enlight Media released the company’s semi-annual report. According to this report, the company’s total revenue in the first half of 2017 is 1.03 billion yuan, up 42.62 percent compared to the same period last year. This report also provides analyses of the company’s performance in areas including film, TV, and anime production and distribution, talent management, and merchandising. Read more on TechWeb

SMI Holdings Group to Invest in Huge Screen Theaters

On August 22, SMI Holdings Group, parent of cinema management company Stellar International Cineplex Mall, signed a deal with China Film Giant Screen (CFGS) to build 50 huge screen theaters within next three years. The two companies will also collaborate in theater management and co-branding. Previously known as DMAX, CFGS is a Chinese premium large film format company, and has been considered as a competitor to IMAX. CFGS is owned by China Film Group Corporation. Read more on Ent Group