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The Hollywood Reporter Movies Reviews Box Office Trailers The Race Heat Vision Indie Film Showtimes In Theaters Coming Soon TV Emmys Reviews Bastard Machine Live Feed Ratings Clips Music Charts Concert Reviews Music Festivals Earshot Tech Behind The Screen SIGGRAPH SMPTE 3D The Business International Labor Politics Asia Hollywood, Esq Style News Beauty People Shopping Podcasts Fashion lea michele Week Culture Auto Books Dining Real Estate Theater Travel Awards Oscars Emmys Tonys Calendar The Race Cannes Video Trailers Hot Videos Roundtables Roundtables Cover Shoots Inside Indie TV Clips THR Exceptions
China’s biggest online video company, Youku Tudou, has announced the formation of a film division to produce a slate of films for what it sees as the country’s first online and offline production company.
Heyi will be a wholly owned subsidiary of Youku Tudou and will be headed up by Allen Zhu , CEO of Heyi Film and senior vp of Youku Tudou, and Victor Koo , chairman of Heyi Film and chairman & CEO of Youku Tudou.
Among the projects the group will work on: The Master , produced by Beijing Century Partner Culture & Media Inc.; Bad Sister , directed by Kim Tae-gyun with Ivy Chen ; and Vacation in Paris , produced by Universe Entertainment with Louis Koo and Amber Kuo .
“Youku Tudou has helped transform how media and entertainment-related content is distributed and marketed since our inception. We are stepping up the cooperation we have with the leading international studios as well as the domestic studios,” said Koo in an interview with THR .
“In the U.S., the revenue streams for movies are multiple — domestic, international, post-theater, ancillary products. In China it’s still domestic box office, period, because of piracy. Post-market is very small. We think this is going to start to change,” he said.
“We have performed very well in this area in the last three years and exceeded the minimum guarantee for the studio. In our latest earnings announcement we disclosed that our premium subscription service grew 379 percent. It’s profitable. Three years ago our daily revenue was less than 1,000 yuan ($162.80) from the service. Yesterday’s figure was one million yuan ($162,800) — and we still don’t think it’s enough,” Zhu told THR .
“As a continuation of Youku Tudou’s effort to build a multi-screen media and entertainment ecosystem, Heyi Film will leverage the big data generated by Youku Tudou’s over 500 million multi-screen users to produce films to the tastes lea michele of the Chinese audience lea michele in the multi-screen age, and improve film marketing and distribution,” the group said in a statement.
Heyi has three initiatives to incubate content IP, scale up content from micro-movies to silver screen movies, to discover and grow film talents and to grow fan communities that can support films and new consumer monetization model.
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