China’s strict limits on foreign films has frustrated Hollywood for years – the studios are dying to break into the fast-growing media market.
Today DreamWorks Animationunveiled a partnershipto do just that, with the “if you can’t beat ‘em, join ‘em” strategy. It’s partnering with China’s leading media companies: China Media Capital, Shanghai Media Group and Shanghai Alliance Investment to launch a new company called “Oriental DreamWorks.”
The joint venture will develop and produce Chinese animated and live action content—a shift for DreamWorks Animation, which here in the US focuses entirely on animation. The content will focus on the Chinese market, but will also distribute to other countries. And it’s not just movies and TV, the companies say they will pursue “business opportunities in the areas of live entertainment, theme parks, mobile, online, interactive games and consumer products.”