Global EditionASIA 中文雙語Fran?ais
    Culture
    Home / Culture / Film and TV

    Film executives expect industry crisis

    China.org.cn | Updated: 2018-06-20 10:34
    Share
    Share - WeChat

     

    Top Chinese film executives discuss the future financial crisis for the film industry at the second China Film & TV Leadership Summit, a forum held in Shanghai during the 21st Shanghai International Film Festival, June 18, 2018. [Photo/China.org.cn]

    Top Chinese film executives believe that venture funds are withdrawing from China's film industry and predict that many Chinese film companies will go bankrupt within next two years.

     

    The executives shared their concerns at the second China Film & TV Leadership Summit, a forum held during the 21st Shanghai International Film Festival.

     

    Wang Changtian, president of Beijing Enlight Media, said the film industry has already passed the peak of high valuation. "In the long term, it is certainly optimistic, but in the short term it is certainly not," he said, "We have been labeled as 'mercenary' and everyone is seriously misled." According to Wang, many film companies will go bankrupt and out of business in the next two years.

     

    Currently China has more than 20,000 film companies vying for a piece of the cake.

     

    He continued by saying there was an over-growth in the box office last year -- where people also witnessed the highest grossing films in Chinese history. "But the image of the industry fell to a low point," he pointed out.

     

    "Many people questioned the practices of the film industry. Some people in the industry lavish money on first class flights and parties. Such behaviors irks investors. Now venture capitals' are withdrawing from the business. The shortage of funds in the entire society has led to difficulties in the financing of many film and television companies, and many companies will have no funds to start their projects." Wang said.

     

    Wang Zhonglei, co-founder and CEO of Huayi Brothers Media, said, "When the venture capitals' understanding of this industry conflicts with its profit-pursuing nature, they will leave for sure. The bubble busted and things definitely went cold, but it is not necessarily a bad thing," the Huayi executive stated, "We should recognize that capital will help the industry. Now investment can be given to the most capable companies which are really focused on producing good contents."

     

    Zhang Zhao, chairman and CEO of Le Chuang Entertainment, added words from his experience of a financial crisis at LeEco, the parent company of Le Vision Picture (former name of Le Chuang).

     

    "I felt more confident after the LeEco crisis. We had released four films even when our staff weren't even receiving their salaries," Zhang said, "We should let the bubble burst but I believe the ones which are sincerely producing good content will not be knocked down and overwhelmed by a withdrawal of capital from the industry. Strategic funds are still of great help for us. The industry can also walk through the crisis if companies only focus on content."

     

    "The entire valuation of the cultural industry has been pushed up, which is actually detrimental to the industry," Alibaba Group Chairman and CEO Fan Luyuan added, "The most important thing in this industry is talent. If all the talents are capitalized, the hunger for talents will decrease. Everyone should calm down."

     

    But Wang Changtian also stressed, at the moment, China's film companies have indeed encountered widespread skepticism. "The outside world's doubts about the film industry are all based on some erroneous and one-sided understandings. The industry will be greatly hurt and affected by this. I hope we can have some opportunities to correct such misunderstandings," he said.

     

    Most Popular
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    成人无码午夜在线观看| 日韩人妻无码一区二区三区久久99 | 亚洲Av无码国产情品久久| 日韩av无码中文无码电影| 中文资源在线官网| 999久久久无码国产精品| 成人无码免费一区二区三区| 日本阿v网站在线观看中文| 国产成人无码精品久久久久免费| 一本色道久久HEZYO无码| 制服丝袜日韩中文字幕在线| 色婷婷综合久久久久中文一区二区| 国产亚洲精品a在线无码| 亚洲中文字幕无码不卡电影| 一本精品中文字幕在线| 国产中文字幕在线视频| 久久人妻AV中文字幕| 无码AV动漫精品一区二区免费| 欧洲无码一区二区三区在线观看| 国产激情无码一区二区三区| 久久久久综合中文字幕| а√在线中文网新版地址在线| 无码毛片一区二区三区中文字幕| 国产中文字幕视频| 无码国内精品久久人妻麻豆按摩 | 色综合久久中文字幕无码| 性无码专区| 亚洲AV中文无码乱人伦| 免费无码一区二区| 无码精品人妻一区二区三区免费 | av区无码字幕中文色| 久久久久久亚洲AV无码专区| 无码国产福利av私拍 | 久久精品国产亚洲AV无码麻豆| 午夜福利av无码一区二区| 亚洲精品色午夜无码专区日韩| 无码人妻久久一区二区三区蜜桃| 伊人久久无码精品中文字幕| 狠狠精品久久久无码中文字幕 | 久久无码AV一区二区三区| 最新国产精品无码|