Eros International emerges as most preferred business partner for Indo-Chinese collaborations in film and entertainment
Three major tie-ups announced in the presence of Prime Minister Narendra Modi with state-owned China Film Group, Shanghai Film Group & Fudan University for mutual co-operation in the field of film and entertainment.
Eros International, India’s leading global film entertainment company, has announced landmark deals with three major most-respected Chinese state owned film and entertainment companies to promote, co-produce, distribute and unlock value in respective intellectual properties for Sino-Indian films across all platforms in both the countries.
The Memorandum of Understandings (MoUs) were signed by Mr. Sunil Lulla, Managing Director, Eros at the recently concluded India–China Business Forum in Shanghai, attended by Indian Prime Minster, Mr. Narendra Modi.
The MoUs entail the prospective co-production and distribution of Sino-Indian films with several Chinese government owned production houses including China Film Group Corporation (CFGC) and Shanghai Film Group Corporation (SFG). Eros has also announced one of its first projects, co-produced with CFC titled DA TANG XUAN ZANG (Monk Xuan Zang) starring China’s most popular and multi faceted actor, Huang Xiaoming, directed by Huo Jianq. This first co-production project opens up avenues for Eros for local content creation in China. Under the co-production treaty, a film designated as a co-production will not be considered a foreign film and therefore avoids any associated restrictions.
The collaboration with the Shanghai Film Group Corporation incorporates exploitation of intellectual property rights owned by each party in their respective markets, development, co-production and distribution of film projects for both India & China. The treaty paves the way for Eros to become the preferred Indian film partner in China.
The association with Fudan University includes the ability for Eros to license Fudan’s IP for remakes or co-productions in India. Fudan will also assist Eros in obtaining publishing licenses for the promotion and distribution of the films from the Eros library in China across various platforms including dubbing them or remaking them to suit local audience tastes.
Commenting on this milestone, Mr. Sunil Lulla, Managing Director, Eros International Media Ltd said, “This is a very proud moment for us at Eros to be associated with the biggest and most-respected Chinese media companies. We are humbled by the gestures that make us the most preferred partner in the field of media and entertainment and we are committed to helping both countries expand their market and audience instantly to over 2.5 billion people. We are really excited about the possibilities and the potential and making films together is just the tip of the ice-berg as we hope to extend these partnerships across all platforms including online.”
Speaking on the occasion on behalf of China Film Group Corporation, Chairman Mr. La Peikang said “Wish India and China collaboration will be more and more fruitful”.
Mr. Ren Zhonglun, President of Shanghai Film Group Corporation commented, “Eros is a very respectable company which we always looked forward to working with. This strategic partnership MOU between Eros and SFG fits into the general background of the collaboration between two countries India and China. It is also the fruit of collaborative effort on resource sharing by film makers from two countries. China and India together have 2.5 billion population with great market potential. Both as Asian countries, we share a lot of similarities in terms of culture, religion and art. There is big space is movie co-operation. We expect to visit back to India and Eros in the near future to further our collaboration”.
China is the second largest movie market after the US, with a size of US$4.8 Bn. for 2014 with staggering growth rates of 34% in 2014. China produced over 600 films in 2014. The number of theatre screens in China has quadrupled since 2010 with 5397 screens being added in 2014 alone taking their screen count to 23,600. As per industry projections, in 5 years time China is expected to surpass US to be the world’s largest Box Office. In comparison, India’s widest release till date has been across just 5,000 screens.
Source: Motion Pictures Association of America / Hollywood Reporter
About Eros International Media Ltd (Eros International)
Eros International Media Ltd. (BSE Script Code: 533261; NSE Script Code: EROSMEDIA) is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International is part of Eros International Plc, which became the first Indian media Company to raise capital and be listed on the New York Stock Exchange. Eros International has experience of over three decades in establishing a global platform for Indian cinema. The Company has a competitive advantage through its extensive and growing movie library comprising of over 1,200 films, which include Hindi, Tamil, and other regional language films for home entertainment distribution. Eros International has built a dynamic business model by combining the release of new films every year with the exploitation of its film library. For further information please visit: www.erosintl.com
About China Film Group Corporation (CFGC)
China Film Group Corporation (“CFGC”) is the largest and most influential state-run film enterprise in China. China Film Group is involved in a variety of businesses which include film and television production, film distribution and exhibition, film importation and exportation, cinema circuit management, digital cinema construction, print developing and processing, film equipment management, film and TV CD production, ancillary products, advertising, property management as well as real estate.
About Shanghai Film Group Co. Ltd. (SFG)
Shanghai Film Group Co. Ltd. (“SFG”) is composed of Shanghai Film Studio, Shanghai Animation Film Studio, Shanghai Dubbing Studio, Shanghai Documentary Film Studio, Shanghai Film Technology Plant, Shanghai United Cinemas, East Film Distribution Company，Shanghai East Movie Channel, Shanghai Film Park, Shanghai Art Designing Corp., and Crowne Plaza Hotel Shanghai etc. It is one of the largest film groups in China.
About Fudan University
Fudan University Press Co., Ltd., founded in 1981, with the electronic audio-visual publishing house as a sub-branch, is hosted by Fudan University, administrated by the Ministry of Education and the Shanghai Press and Publication Bureau. The press is one of the first national level press, and was awarded the “Top 100 Best National Press”.