The Internet Boosting the Film Industry

 

The guests had a hitted discussion on the stage. Pic by Qiu Yuecheng

 

By Cathy Ding(Shanghai Daily)

“The Internet is providing new growth opportunities for the Chinese film industry in various sectors including fund raising, distribution as well as new sources for original film scripts.” an industry insider told the forum titled "New Normal of Movie: Enabling Industrial Upgrading through the Internet" during the Shanghai International Film Festival yesterday.

"The Internet has provided new channels for innovative talents to participate in and bring more energy to the film industry," said Zhang Hongsen, head of the Film Bureau under the State Administration of Press, Publication, Radio, Film and Television.

"The adoption of the Internet as a new marketing and distribution channel is a natural reflection of the industry trend." Wang Changtian, President of Beijing Enlight Media Co., Ltd. added.

He expects that domestic film production companies\' intellectual property income will catch up with their box office income within three years, as consumers have more channels to pay for the content they desired instead of just going to cinemas.

Liu Chunning, President of Alibaba Digital Entertainment Business Group, said the company is to launch an online film and TV series distribution streaming service based on Tmall\'s set-top boxes, which now cover several million domestic households.

"We hope to provide Alibaba\'s vast consumer base more access points to film and TV productions, thus helping film companies seek innovative business models in the Internet age." he said.

Alibaba\'s crowd-funding service Yule Bao which allows consumers to invest a minimum of RMB 100 in development-phase games, movies, and TV shows, has attracted RMB 560m since it was launched in last June.

Enlight Media is also launching its own film streaming service for paid viewers within two or three months.

Lin Qi, chief executive officer at local production house Yoozoo Pictures, said the Internet enabled new comers like his firm to seek the best talents within a short period of time and also opens up new ways for people from all walks of life to participate in the film making process.

Yoozoo is spending RMB 1.2bn yuan (USD 194 million) to adapt the best-selling Chinese science fiction "Three Body" trilogy.

Ruyi Films\' Chairman Ke Liming said the Internet provides them with more sources of story ideas and grassroot film talents can have their ideas distributed to a wider audience by social networks.

Industry insiders acknowledged that the larger growth opportunities of the film industry lie in the home entertainment segment thanks to the prevalence of smartphones and high-speed Internet access in China.