U.S.-based Superior Venture Corp.'s subsidiary company Illustro Pictures Limited is expected to continue its growth within the Chinese movie market after several years of 25-40 percent annual growth.
Said President and CEO Brian Hammond, "We are seeing a huge demand for Chinese domestic films to fill the roughly ten new movie screens that open in China daily, making it the fastest growing and second largest movie market on the world. The leading Chinese studios that we have developed relationships with are looking at multiple projects, all of which could use the co-development and production capabilities of our subsidiary, Ilustrato Pictures. We believe that the 25% to 40% plus growth that resulted in record box office for China in 2012 directly benefits our Company. We are out to capture significant co-development projects that utilize our talented writing, development and production resources. With that kind of growth, we could see multiple large scale projects developed within 12 to 24 months."
Illustro is also in the process of multiple co-development agreements with various Chinese film studios.
Ryan Murray, the Motion Picture Associations's director of content protection, Asia Pacific, delivered a brief presentation on the continuing problem of piracy in key Asia Pacific markets such as China and India.
The biggest problem is that both countries lack proper laws designed to prevent camcording. The MPA is lobbying local authorities to establish new laws, but it's clearly not happening fast enough.
Forensic matches, a process by which the MPA analyzes pirated copies in order to figure out where they came from, have increased by 45% year/year for a total of 119 this year in the Asia Pacific. India has the most with 66, followed by Thailand with 30 and 14 in China.
Pirating in India is largely concentrated in three cities: Ahmedabad, Indore and Ghaziabad. "We're dealing with three well-organized criminal syndicates," Murray warned.
One piracy site that Murray drew attention to is Tom365.com, a Chinese site that allows users to stream films instantly. The page ranks #1,381 in China, according to Alexa.
A question from a member of the audience addressed the lack of legal streaming in the Asia, where sites such as Hulu and Netflix are not available in key markets. Murray answered by stressing the need for a healthy content environment before distributors are willing to establish legit streaming models.
Sunder Kimatrai, 20th Century Fox International's senior vice president, Asia Pacific, broke the ice with the first studio presentation of CineAsia 2012.
Kimatrai began with praise for Life of Pi. Ang Lee's stirring drama has grossed $106 million from 11 Asia Pacific markets. China leads with a staggering $68.2 million, followed by India with $10.4 million. "They weren't kidding when they called this the next Avatar," Kimatrai quipped. The VP pleaded for convention attendees to keep the film on screens as long as they can. "I think we're just getting started," Kimatrai boasted.
The rest of 20th Century Fox's presentation consisted of trailers and extended clips for new films. The reel kicked off with an introduction from Hugh Jackman. The Croods and Epic were featured prominently, and the new footage looks stunning. Kimatrai also touted films that he had no footage for: The Internship with Vince Vaughn and Owen Wilson, The Wolverine, Percy Jackson and the Sea Monters, The Secret Life of Walter Mitty with Ben Stiller and Runner Runner, a drama about the world of online poker with Ben Affleck and Justin Timberlake. Of those, The Wolverine and Percy Jackson should post the strongest Asia Pacific numbers.
A trailer for The Sessions received an enthusiastic response from the mostly Asian crowd. Unfortunately, Kimatrai bemoaned, censorship issues will prevent the film from opening in many Asia Pacific markets.
China Lion Film Distribution reports that Back to 1942 grossed $56,604 this weekend in North America, bringing the film's total to $212,475.
The film has been in release for 10 days and is currently playing on 18 screens.
DreamWorks Animation CEO Jeffrey Katzenberg has created the new position of Chief Global Brand Officer and appointed former J.C. Penney President Michael Francis to the role.
Francis, in his new role, will be charged with expanding the brand names established by DreamWorks such as the Shrek and Kung Fu Panda series.
Included in their strategy is the plan to build an animation studio in Shanghai, China. DreamWorks expects the studio could employ more than 2,000 workers once operational.