Cinedigm Corp. has formed six new Chinese entertainment partnerships.
Cinedigm chairman/CEO Chris McGurk and representatives from the participating companies held a signing ceremony at the Beijing International Film Festival on Friday.
The partnerships covered:
— Beijing-based China Intercontinental Communication Center, a media company founded in 1994 and the longest-established co-production documentary company in China.
— Youku Pictures Inc., a subsidiary of China’s internet giant Alibaba Media & Entertainment Business Group. Founded in 2014, Youku has produced 39 films with a total box office exceeding $3.1 billion, including “Wolf Warriors 2,” “Monster Hunt,” and “Detective Chinatown.”
— V1.CN was established in 2005 and listed on the Hong Kong Stock Exchange in 2006, becoming the first Chinese video media enterprise listed in Hong Kong.
— Ling He Culture Media (Shanghai) Co., Ltd., a Chinese film and TV company famous for its online series, founded by Chinese producer, director, and screenwriter Bai Yicong.
— Youth Studio, a subsidiary of Beijing Film Academy, the largest institution specializing in tertiary education for film and television production in Asia.
— Emei Studio Group Co. Ltd., one of the seven major state studio groups in China, and the largest film and TV producers in the southwestern part of China.
“We are thrilled to have signed these business cooperation agreements with such a strong and vibrant group of Chinese entertainment partners,” McGurk said. “In addition to our already established relationships with Bison Capital and Starrise Media, these new partners will help provide significant, quality Chinese content and business understanding to help us jump start the flow of movies, TV, and short-form programming into and out of China.”
During the festival, McGurk gave three speeches to attendees and officials, and participated in a panel discussion about China-U.S. film and TV co-production and co-distribution. He also announced Cinedigm’s plan to launch a new Chinese-language content-based OTT channel in the United States to Chinese industry insiders and officials.
They formed a “Belt and Road Media” Cooperation Union with CICC, whereby the companies agreed to work together to encourage film and television productions, to build a broadcasting network, and to improve the quality and prosperity of the media industry in both countries.
Prior to the signing ceremony, McGurk gave a keynote presentation that focused on new initiatives to globalize and monetize Chinese-produced films, and other entertainment content outside of China.
Cinedigm receiving a majority investment from Chinese investment firm Bison Capital in November. In January, it announced a strategic alliance with Chinese entertainment company Starrise Media to produce and distribute films and other forms of content in North America and China.