mm2 Entertainment Pte. Ltd. (“mm2 Entertainment”, a wholly-owned subsidiary of mm2 Asia Ltd. “mm2 Asia”), will sign a Memorandum of Understanding (“MOU”) with New Culture Media Hong Kong Ltd. (a wholly-owned subsidiary of Shanghai New Culture Media Group Co., Ltd.) and 9i Film & Television Media Co. Ltd., to co-invest and co-produce, over the next 3 years, a total of USD 25 million in 5 films and multiple online films, a format which is now immensely popular on the Chinese Internet. The MOU will be signed during the 2017 ContentAsia Summit.
The collaboration signifies all parties’ commitment to investing in, and producing content that appeals to audiences in both China and Southeast Asia. All parties will work together on the conceptualisation, development, production, distribution and merchandising of said 5 films to maximise commercial value and audience reach.
Mr. Chang Long Jong, CEO of mm2 Asia, said: “This MOU marks a new milestone in the development of our movie pipeline for the Chinese speaking markets of North Asia and Southeast Asia. We look forward to co-developing and co-producing an exciting slate of films with our Chinese partners through this collaboration. We are committed to growing our content business in North Asia and will continue to seek such win-win partnerships to achieve our goals.”
The tripartite MOU will be signed by mm2 Entertainment Pte. Ltd., New Culture Media Hong Kong Ltd. and 9i Film & Television Media Co. Ltd. Meanwhile, Dongfang Jiaying Television Cinema Media Share Company, which has received large investment from various Chinese entertainment industry leaders including Alibaba Pictures, has expressed interest in taking part in the collaboration, looking closely at areas such as film investment and distribution, and new media financing. Furthermore, Taiwanese publicly-listed post-production company, Bossdom Digiinnovation Co. Ltd., also stated their interest in participating in this strategic alliance.
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For more information, please contact:
Angelin ONG, General Manager, North Asia, mm2 Entertainment Pte. Ltd.
SIM Wee Boon, Director of Distribution & Marketing, mm2 Entertainment Pte. Ltd.