IMAX will fund 15 Chinese movies
IMAX and China Media Capital have announced a joint fund to fund movieing in China. This is reported by The Hollywood Reporter. The initial capitalization of the fund is estimated at $ 50 million. From these funds, it is planned to finance 10-15 local movie projects over the next three years. The decision on the allocation of a particular amount will be made collectively by representatives of both companies. The partners look forward to participating in replenishing the fund and financing promising paintings and other potential investors. "This initiative will allow us to strengthen our ties with the Chinese movie industry and to become even more energetic in the production of Chinese-language content for local and international movie markets," IMAX CEO Richard Gelfond said in a statement. Recall that Hollywood movie studios and famous directors and producers see China as one of the most promising markets in the coming years. By the end of 2017, it will be equal to the North American one by the end of 2017, and in the following years it will significantly surpass it and all the others. The status of a joint venture helps foreign companies bypass a number of administrative barriers. The Topic of Article: IMAX will fund 15 Chinese movies. |
