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The world’s largest film industry business event is taking place in the US state of California this week and China has a starring role.
A record number of Chinese executives are in attendance. Based on early registration numbers, Chinese delegates could overtake those from the UK to become the second largest national group behind only the domestic US attendees. Chinese participation has risen from just 13 executives in 2005 to over 250 at last year’s edition. The Chinese growth has been consistent since 2009.
The Chinese presence at AFM is even more visible this year. For the first time, there is a China pavilion.
The delegate expansion comes at a time when the relationship between Hollywood and the Chinese film industry has reached a turning point. Chinese companies are no longer able to pump large sums of money into US acquisitions.
But China’s presence at AFM is not just about the executives making deals. It is also about the moves being made by some of China’s biggest players.
The art of the deal
The team – director Raman Hui and producer Bill Kong – behind the Chinese fantasy hit film “Monster Hunt” are laying out franchise plans to keep the success going. According to The Hollywood Reporter, they want to follow up the 2015 record-breaking hit with a four-film series making “Monster Hunt” China’s first full-fledged franchise, a potential animated spinoff, merchandising deals and theme park attractions.
“Monster Hunt” movie poster
Kong has produced some of China's most globally successful and critically acclaimed films, from Ang Lee’s Oscar-winning “Crouching Tiger, Hidden Dragon” to Zhang Yimou’s “Hero” and Disney’s upcoming live-action “Mulan.” Hui is that rare filmmaker who has worked in the US and Chinese industries – and understands the demands of both.
“Monster Hunt 2” is eyeing a February 2018 release, just in time for the Chinese Lunar New Year.
Even though AFM is just getting underway, big deals are being made.
**Done Deal! **
ackie Chan poses with his Honorary Oscar Award during the 8th Annual Governors Awards in Hollywood, California.
Swen Asia, a division of The Swen Group, and WME-IMG China, a subsidiary of Endeavor, have acquired the worldwide rights to Jackie Chan’s latest sci-fi action thriller, “Bleeding Steel.”
They are planning a day-and-date release with China, the US, UK, Australia, New Zealand, Latin America and most Asian territories on December 22.
In “Bleeding Steel” Chan plays a special forces agent who becomes involved in a major conspiracy while protecting a scientist.
According to The Hollywood Reporter, this is the biggest budget Chinese production to have ever been shot in Australia and the first feature to shoot scenes on top of the Sydney Opera House.
(CGTN)
