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Hollywood Invests in Co-productions in China
Wednesday, August 8, 2012 17:18
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Hollywood filmmakers are investing more in co-production partnerships with Chinese filmmakers. They are looking for local partners to help them get around the Mainland's annual restrictions on foreign film screenings. They hope to be a part of the rapidly expanding Chinese blockbuster film market and glean a slice of the profits. DreamWorks is gearing up to produce the next “Kung Fu Panda” movie with Chinese partners. The Walt Disney Group have also announced the next “Iron Man” film will follow a similar path. Producers of “The Dark Knight” Legendary Entertainment plan one or two films a year based on Chinese themes. DMG Entertainment plans to shoot scenes of their thriller film “Looper” in Shanghai. [Dan Mintz, CEO, DMG Entertainment Group]: “China is an amazing market, an amazing growth market. Our real focus at this point is making international films, international star-driven wide-release films with Chinese elements in them.” The buzz over China's film market lies in the billions of dollars foreign films rake in each year. Box office sales in China rose 42 percent over the past six months. China's film industry is now about fifth of the size of Hollywood and it is growing much faster. American and global filmmakers get 25 percent of all ticket sales for films screened in Mainland China. It's enough incentive to do all they can to gain access. Several major Hollywood directors are getting in on the act. [James Cameron, Film Director]: “This is the first case where …
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2012-08-08 17:13:47
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