[PAST EVENT] Hollywood Made in China
The Chinese market is poised to become the largest theatrical box office in the world within the next two years. But China currently allows only 34 films from around the world to be imported per year (with distribution revenue sharing privileges). In order to circumvent China’s film import quota and access the world’s largest potential film market, Hollywood studios have begun engaging in a range of collaborative ventures to access audiences in the middle kingdom. In February 2016, Shanghai-based US-China joint venture Oriental DreamWorks released Kung Fu Panda 3, which dominated the global box office that month. Disney opened its first theme park in China – a USD 5.5 billion investment - merely four months later. From film co-productions, to animation studios, to theme parks, American media conglomerates are working ever more closely with Chinese firms and Chinese regulators in exchange for access to audiences. Local Chinese filmmakers increasingly create media with an eye toward the international market in order to compete with Hollywood-China collaborations globally. Cash-rich Chinese conglomerates like the Dalian Wanda Group have begun taking major stakes in foreign studios, spurring US government efforts to regulate foreign direct investment in Hollywood. This talk will demonstrate how the growth of China’s media market is transforming Hollywood from the inside out.
Sponsored by Reves Center and WMCI
Chun-yu Lu [[w|clu02]]