Alibaba, the Amazon of China, started producing movies some time ago but the latest news is that it is going to build cinemas in which to screen them. Alibaba Pictures Group, a subsidiary of the Chinese e-commerce giant, will now be film producer, distributor, and exhibitor.
Although the box office growth within China has slowed, Alibaba, as well as, the Wanda Group (the large Chinese real estate developer and owner of the U.S. based AMC Cinemas chain and Legendary Studios) are betting that the Chinese theatrical box office will resume its rapid growth.
At the end of 2015 China had 31,600 cinema screens, By the end of this year that number is expected to reach 40,000 - about equal to the U.S/Canada count but with 4X the population and lots of room for expansion.
Alibaba Pictures Group, CEO Zhang Qiang told CMG, "The company plans to build an integrated platform in the movie business and cinemas play a integral part in that." To that end Alibaba recently set up a $300 million cinema investment fund.
Hollywood on the Chinese Menu
Speaking of the Wanda Group, they have been on in entertainment industry buying spree and there seems to be no let-up in sight.
Wanda Chairman, Wang Jianlin even stated, "My goal is to buy Hollywood companies and bring their technology and capability to China." Although not forthcoming on the next acquisitions, a stake in scandal-ridden and ill-managed Paramount Pictures could be in the making. "We are interested not only in Paramount, but all of them. If one of the big six would be willing to be sold to us, we would be interested. Only the six are real film companies."
In addition to the $3.5 billion Legendary purchase, Wanda, this year, paid $3.4 billion for an 'entertainment' development in Paris, a $10 billion investment in an industrial/entertainment park in Haryana, India, the $1.1 billion purchase of European cinema chain Odean/UCI, and the pending purchase of U.S. chain Carmike Cinemas.
CMG has often written on the changing face of the global entertainment industry, particularly the cinema sector, and it is becoming reality. Pouring billions into cinema related entities bodes well for the future of the cinema but these investments haven't seen any real return. The Chinese are astute investors but it is the creative community that drives the cinema business.
Science and the Cinema
The Academy of Motion Pictures Arts and Sciences puts emphasis on the Arts and the Sciences goes virtually unnoticed by moviegoers; however, it's the Sciences that push the industry forward. This year there are 12 science and technology categories which will be considered for Awards:
- High Resolution D-Cinema Cameras
- Motion Control Software
- New Wireless Microphone Technology
- Computer printed, seamless Screen Backdrops
- Camera Flange Depth Measurement Devices
- Programming Language for Production Rendering
- Physically-based Shading and Light Transport
- Real-time Drawing Tools for Sketching and Makeup in Film Production
- Fast-reset Bullet Kit for Live-action Production
- On-set, Real-time Camera Tracking
- Electrode-less Plasma Arc Lamps
- Renderable, Life-sized Animatronic Horses
The final Awards will be presented on February 11, 2017.
If it's all Greek to you don't worry, but keep in mind that it's the science and technology of film-making that is responsible for today's high-tech, action-based blockbusters.
Best,
S. Flix
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