China opens more to Hollywood, DreamWorks
by James | February 20, 2012 10:03 am
U.S. film studios will have more access to China under an agreement announced this week according to Bloomberg[1]. The restrictive regime, which limits foreign films allowed in the country to 20 per year, will now permit an additional 14 “enhanced-format” films (such as 3D and IMAX). The agreement will also allow the studios to earn more for their efforts, increasing their allowable share of the box-office proceeds from 13% to 25%.
In related news, China Daily[2] reports DreamWorks Animation and several Chinese media companies are creating a new production studio, called Oriental Dreamworks, in Shanghai. The group, of which Dreamworks will own 45%, will “develop and produce Chinese animated and live-action content for distribution within China and around the globe”.
- Bloomberg: http://www.washingtonpost.com/business/hollywood-wins-access-to-china/2012/02/18/gIQAtAG1LR_story.html
- China Daily: http://www.chinadaily.com.cn/bizchina/2012-02/20/content_14645491.htm
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