Mumbai: XFMedia’s subsidiary, Xinhua Media Entertainment (XME) has unveiled its initial expected film slate for the next three years. It represents the Company’s long term commitment to showcase Chinese culture, top Chinese talents, artisans and production crews on the global stage through major collaborations with premier filmmakers, screenwriters, and producers from Hollywood.
China is the fastest growing major theatrical market in the world with 1.6 new movie screens being added everyday and consistent box office volume growth at a five-year compound annual growth rate ("CAGR") of over 30%. In comparison, the five`-year CAGR of well-developed markets such as the U.S. and Japan is either flat or negative.
Since launching in April 2008, XME has aggregated a slate of projects intended to be produced as official co-productions between the leading film companies in China, including China Film Group Corporation, and premier producers in Hollywood. All films will be produced in accordance with the requirements of the regulators including the State Administration Radio Film and Television (SARFT).
"We are thrilled to announce our film slate, which differentiates us from our competitors as each film has the potential to become a global blockbuster. This is consistent with our focus on expanding our sports and entertainment programming," said XFMedia CEO Fredy Bush. "We believe our upwardly mobile target demographic will welcome such high quality programs."
With the in-depth understanding of and relationships with key players in both China and Hollywood, XME has a unique ability to competitively identify, develop, structure and execute China-U.S. film co-productions that share with a global audience a side of Chinese culture unseen before.
"We want to show the mainstream global audience that the Chinese film industry can do more than just period martial art films," said Xinhua Media Entertainment managing director David U. Lee.