Warner Heads to China with Flagship Entertainment
China Media Capital and Warner Bros. Entertainment have formed a joint venture to develop and produce a slate of Chinese-language films, including global tentpoles, for distribution around the world. Flagship Entertainment Group Limited will combine Warner's expertise as Hollywood's largest studio with China's premier media and entertainment investment and operational platform in order to capitalize on the rapidly growing market for premium content globally, particularly in China, and the increasing demand for high-quality Chinese-language movies around the world.
“We look forward to working with CMC in this exciting new venture, as we gain additional insight into the Chinese film industry,” said Kevin Tsujihara, Warner Bros. Chairman and CEO, in the announcement. “Warner Bros. has a proud legacy of making great movies, and we’re excited to share that expertise with our colleagues in China. The country’s incredibly rich history and culture provide a huge trove of great stories, and we want to help tell those stories for new generations of filmgoers, in China and around the world.”
“CMC has been actively investing and operating throughout the ecosystem around the explosive content market in China and around the world,” added Ruigang Li, Founding Chairman of CMC. “With the proliferation of platforms available to consumers, premium content is more valuable than ever. This partnership with Hollywood’s most iconic studio will bring Warner Bros.’ deep experience in creative storytelling and unparalleled expertise in producing global titles to China’s film industry. It will also further CMC’s commitment to building a premier platform for making films that resonate with both Chinese and worldwide audiences, helping to enhance the cultural exchange between China and the rest of the world.”
The first titles from Flagship could come as early as 2016.