On Monday, China passed its first law addressing unbridled box office fraud. For years, theatrical corruption has been accepted as a part of doing business.
Wanda’s CEO Jianlin is in Hollywood to purchase more media properties. The acquisition of Legendary for $3.5 billion was the biggest Hollywood-China tie-up.
“Disney, which is very good in China, had their movie service shutdown. Apple had their movie service closed down. It doesn’t look good.” – Netflix CEO
One week before Shanghai Film went public, state-owned Omnijoi Media, listed on the ChiNext. On the very next day, China Film made debut on the main board.
In a shocking spectacle of insider dealing, the Chairman of Baidu, along with others announced plans in February 2016 to buyout iQiyi from Baidu for $2.3B.
China’s online video market is massive: there are 660 million internet users, and 75% of those consume video content online. However, the SVOD model is new.
The MPAA and China film regulators negotiate to address box office fraud and expanding the number of non-Chinese films permitted on the mainland.
Brazil lost 600,000 subs over the last six months of 2015. It’s no surprise that Netflix’s growth has been spectacular. Sky lost 300,000 in the same period.
Antitrust issues are on the horizon for Wanda Group: CEO Wang Jianlin, China’s richest individual, announced the acquisition of Legendary for $3.5 billion.
In August 2015, angry investors who lost money on Shan Jiuliang’s Fanya Metals Exchange, attacked, detained, and escorted him to the closest police station.