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But many balk at the cost of the park or shy away from paying copyright fees to partner with established brands.Īs a result, many parks are built cheaply and developers abandon foreign consultants shortly after the initial planning stage.īut Hollywood has reason to be hopeful - if only because there is potential big business in the venture. Chinese real estate developers often plan theme parks as a way to meet government rules that require a portion of their developments to offer entertainment or cultural attractions.

#CHINESE MOVIE PRODUCTION COMPANIES MOVIE#

PHOTOS: Highest-paid media executives of 2012Īlmost as ambitious as the proposed Qingdao movie studio is the 1,300-acre theme park that would surround the development. His conglomerate controls movie theaters, department stores, office buildings, luxury hotels and ritzy karaoke clubs. His company’s imprint can be found across the skyline of most major Chinese cities. “We’ve been having ongoing discussions with Wanda about including an Imax component to this project and we’re in the process of working out what the specific details would be,” Richard Gelfond, chief executive of Imax Corp., said Monday.Īt the center of the planned development is Wang, 58, a titan of Chinese entrepreneurship. The Quingdao project would also have an Imax presence, such as a screening room or postproduction facility. to open 120 new Imax theaters in China, bringing Wanda’s total Imax commitment in China to a maximum of 210 theaters. Wanda also announced in July a deal with Imax Corp. companies in the next decade, which could include buying department stores, hotel management companies and at least one more cinema chain. Wang told The Times then that he planned to invest $10 billion in U.S. Last year, Wanda paid $2.6 billion in a landmark deal to buy AMC, the nation’s second-largest theater chain. Wanda’s project is the latest push by the conglomerate to cement ties with the U.S. The agency also has angered studios by forcing American blockbusters to compete against each other on the same weekend, a tactic perceived to favor local productions. PHOTOS: U.S.-Chinese box office comparisonsīut studios have been frustrated by the actions of state-owned distributor China Film Group, which in April yanked Quentin Tarantino’s “Django Unchained” from theaters the day it premiered. A production facility in China also would give studios access to a low-cost pool of labor. Doing co-production in China would allow them to bypass China’s quota system on foreign movies, and give them a larger share of film revenue. That is a potentially attractive proposition to major studios. Wanda’s announcement is less about financing Hollywood movie slates and more about encouraging studios to come to China to produce their movies. “Wanda is a new player with great reach,” said talent agent David Unger of Resolution, who represents Michelle Yeoh, star of “Crouching Tiger, Hidden Dragon,” the most successful Chinese-American co-production of all time.

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“But let’s see who buys in from Hollywood.”Īccording to published reports, Wang expects the new facility - which would partly open by 2016 - to generate 30 foreign productions a year, in addition to 100 film and TV projects from domestic companies. “There is no question Hollywood is interested - look at the people who were there,” said Stanley Rosen, a Chinese film expert and USC political science professor. While movie stars attended the event - also on hand were John Travolta, Catherine Zeta-Jones, Ewan McGregor, Christoph Waltz and Kate Beckinsale - at least several were paid rich fees to appear, according to sources with knowledge of the matter.

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“We have an understanding of how to do business with each other and an agreement and a commitment to work to build something that is very important to Wanda,” Zimmer said in a phone interview Tuesday afternoon from Shanghai. United Talent Agency does not have a formal deal with Wanda, but the agency’s chief executive, Jeremy Zimmer, attended Sunday’s event and came away “hopeful.” Talent agencies William Morris Endeavor and Creative Artists Agency dispatched agents to Sunday’s unveiling but have not struck deals with the company. Los Angeles film studio 20th Century Fox sent representatives to the event, as did Burbank’s Warner Bros., but has not struck a deal with Wanda. Though Wanda trumpeted a successful round of deal making with Hollywood players, it’s not clear whether any film studios, production companies or talent agencies - and their clients - have signed any substantial agreements with the company. This month, Wanda, owner of theater chain AMC Entertainment, announced a $20-million donation to the Academy of Motion Picture Arts and Sciences for its forthcoming film museum.

Chinese movie production companies