Rumour: DreamWorks wants to open studio in China

15 September 2011 22 h 26 min 11 comments

Some reports in China and States indicate DreamWorks wants to open an animation studio in Shanghai to make films and shows for the Chinese market. It seems that the animation giant is looking into building an animation studio in Shanghai that would make films and TV shows for the Chinese market and has started to hire staff.

Glendale-based DreamWorks, whose “Kung Fu Panda” movies have been big hits in China, has hired RSR Recruiting to find staff for the production studio, “which wants to “establish a production and develop presence in China”, reported the Los Angeles Times. DreamWorks officials haven’t commented to media on the news, which was first reported in Agence France-Presse news service and industry publication Variety.

“As it is an important market for us and one in which the DreamWorks Animation brand and products have tremendous value, we continue to explore opportunities in China. But Any further speculation is premature” a DreamWorks spokeswoman told the L.A. Times.

The “Kung Fu Panda” movies were made with a Chinese audience in mind and the second in the franchise became the highest-grossing animated feature ever screened in mainland China when it was released this year, taking 597 million yuan ($93 million).

At the end of August, DreamWorks struck a deal with Chinese Internet-video company Youku.com Inc. to distribute its “Kung Fu Panda” movies, the first time the studio’s films would be available online in China. (See ARTICLE on CSN²)

DreamWorks chairman Lewis Coleman met with the state-run China Film Group in Beijing two weeks ago, a source who asked not to be named told AFP. Foreign media companies setting up shop in China must work with local majority partners and are subject to strict regulations about the sort of content they are allowed to produce for distribution inside the country.

Following other US studios

DreamWorks is not the first US Studio to explore the exploding Chinese film market. Some US studios recently announced new Chinese initiatives

. In August, independent studio Relativity Media   formed a partnership with China’s Huaxia Film Distribution Co. and SkyLand Film-Television Culture Development to produce and distribute films in both China and the United States.
 (See ARTICLE on CSN²)

. In June, Legendary Pictures formed a Hong Kong-based venture with Chinese studio Huayi Brothers Media Corp. to make movies in China. (See ARTICLE on CSN²)

SOURCES: LA Times, AFP, Biz Journals, finance.ninemsn.com.au

IN THE PRESS:

. “DreamWorks Animation plans to open studio in China” (LA Times, September 14, 2011)

. “DreamWorks in China” (WSJ, 14/09/2011)

Related posts:

Leave a Reply

You must be logged in to post a comment.

Other News

  • China (mainland) film Brilliant future expected for Chinese cinema: interview

    Brilliant future expected for Chinese cinema: interview

    Jiang Wen (R), a well-known Chinese director, walks down the red carpet with his wife Zhou Yun at the opening ceremony of the 70th Venice Film Festival in Venice, Italy, Aug 29, 2013. [Photo / Xinhua] (Xinhua, 04 Sep, 2013)Chinese films have achieved over the past few years very positive results in terms of both quantity and quality, and will drive their technology-led development, 70th Venice Film Festival president Alberto Barbera told Xinhua in a recent exclusive interview. This venerable [...]

    Read more →
  • Breaking news China (mainland) film Cloudary extends script to movie industry

    Cloudary extends script to movie industry

    (chinadaily.com.cn, 26 Aug, 2013) Cloudary Corp – an online literature platform owned by interactive media giant Shanda Group – said on Friday that it reached a film script agreement with the Chinese movie firm Seven Stars Films. Seven Stars Films, a movie production and investment firm owned by Chinese media entrepreneu r Bruno Wu, will link Cloudary’s literature with the world’s movie industry. Wu, who is married to popular TV host Yang Lan, founded Seven Star Films in 2012. The [...]

    Read more →
  • Breaking news China (mainland) film China’s movie market booms with local content

    China’s movie market booms with local content

    ( Agencies, 23 Aug, 2013) In “American Dreams in China”, Cheng Dongqing is giving a lecture in an abandoned factory in Beijing . Snow falls through the damaged roof and a power cut sends students reaching for their flashlights. The movie , about how young Chinese in the 1990s tried every means to learn English so they could study overseas, is part of a boom in domestic productions that is outpacing foreign film s at the box office in China. [...]

    Read more →
  • Breaking news China (mainland) film Fast forward with film

    Fast forward with film

    (China Daily, 23 Aug, 2013) In the past year, Chinese films have galloped ahead like a dark horse, beating Hollywood imports. It is hardly surprising that most of these domestic hits are comedies. Comedy is mostly local. When Hollywood sent scouts to recover the secret formula, many of them reported that these Chinese movies were not particularly funny. Of course not. When you translate every line into English, you have lost much of the fun, leaving only a few sight [...]

    Read more →
  • Breaking news China (mainland) Digital Mobile game firms looking abroad

    Mobile game firms looking abroad

    (China Daily, 21 Aug, 2013) Intensifying domestic competition is driving Chinese mobile game developers into overseas markets, said Google Inc, owner of the world’s most used smartphone operating system. Japan and South Korea may become “sizeable” money-spinners for developers in China in the coming years, it added. “Tapping into South Korea and Japan makes sense for Chinese developers, because both countries have a large smartphone user base and high sales volume in the mobile gaming sector,” said Ben Zhang, China [...]

    Read more →
  • Breaking news China (mainland) tv PPTV denies buyout rumors

    PPTV denies buyout rumors

    (chinadaily.com.cn, 14 Aug, 2013) Online video provider PPTV has denied rumors it will be jointly acquired by e-commerce giant Alibaba Group Holding Ltd and Hunan Satellite TV. “We have noticed related media reports. PPTV is operating independently, well, and we have nothing to announce at present,” PPTV told China Daily on Wednesday. A report from IT industry portal 36kr.com said on Wednesday that the prospective deal is almost closed, with the transaction reaching $400 million. It cited venture capital sources [...]

    Read more →
  • Breaking news China (mainland) film Film industry needs long tail to grow

    Film industry needs long tail to grow

    (China Daily, 15 Aug, 2013) The domestic film market registered record half-yearly box office returns of 10.9 billion yuan ($1.77 billion) in the first six months of this year, up 35 percent year-on-year, and there have been excited voices saying that the Chinese film industry is about to boom in the international market. However, box office success is just part of the industry’s chain, and without the further development of licensed movie merchandising, the Chinese film industry is still in [...]

    Read more →
  • Breaking news China (mainland) Digital New WeChat game becoming painfully popular

    New WeChat game becoming painfully popular

    (chinadaily.com.cn, 15 Aug, 2013) A new mobile phone game on WeChat, a social network app in China, is proving so popular that it’s causing hand injuries for many Chinese users. The game, which was recently introduced to WeChat’s 400 million subscribers, allows users to compete online with their friends in aircraft battles. Within two hours after the release of the game on Aug 5, there were more than 180 million downloads. But Zou Cheng, an orthopedic doctor at Hangzhou First [...]

    Read more →