ANCHOR LAUREN GORES
Disney announced Tuesday it is getting into the animation market in China. Film Business Asia
reports the company will partner with China’s biggest Internet company — Tencent Holding — and a state-owned group to create animated films. Here’s managing director of The Walt Disney Company China Stanley Cheung.
"Our philosophy is to operate as the Chinese Walt Disney Company and as such will remain front and centre to help local creative talent realise their dreams and help to create one of the most dynamic original animation industry sectors in the world.”
According to the LA Times
— China sees animation as a tool to spread Chinese culture to the world.
“China’s government has identified animation as a key area for development to boost the country’s global influence, or soft power. The success of DreamWorks Animation’s 'Kung Fu Panda' franchise has sparked wide debate within China about why the country can’t leverage its culture as effectively as Hollywood.”
Disney isn’t the only entertainment company looking to tap into the Chinese market. As The Wrap
“Two months ago, rival DreamWorks Animation unveiled its own joint venture with three Chinese companies, Oriental DreamWorks, which will create animated and feature films in the region. Many other Hollywood players have similar plans.”
And many analysts say — it’s a good move for Disney, and other entertainment giants. Bloomberg
“China is one of the world’s fastest growing film markets. In 2010, the Asia Pacific box office grew by 21 percent with China accounting for 40 percent of the growth, the Motion Picture Association of America said in February 2011.”
But creating animation film is only one of Disney’s strategies in China.
According to ABC
— Disney is constructing a $3.7-billion theme park in Shanghai that will open in 2017.