Sunday, September 20, 2020

Hong Kong-Thai JV to co-produce films for China, Thailand

Dec 22. 2016
Facebook Twitter

By WATCHIRANONT THONGTEP
THE NATION

A GROUP of Thai businessmen and Yin Chuang International, an entertainment company based in Hong Kong, have formed a 51:49 joint venture to co-produce films with Thai production houses for major Internet television networks in China and cinemas in Thailand.

“Our new JV called Thai Phoenix Culture Entertainment is planning to make about five to 10 movies next year under a total investment of Bt500 million, or 100 million yuan,” Kriengkrai Chuethanachotpaisan, president of the company and also one of the Thai shareholders, said yesterday.

He said his company had decided to set up an office in Bangkok because it had direct relationships with many large television companies in China and Thailand.

Under this partnership, the company aims to use Bangkok as the centre for production and distribution of films in Southeast Asia.

Thai Phoenix Culture Entertainment Group yesterday introduced its first movie, “Let’s Go Bangkok Holiday”, which was co-produced by Thai and Chinese filmmakers. The Bt50-million film will premiere in March.

Apart from cinemas in Thailand, the company will provide its films to Internet TV channels in mainland China, such as iQiYi, Youku and Tencent.

Kriengkrai acknowledged the importance of Internet TV operators in China, particularly among younger viewers, who consume a lot of online content on their smart devices because of China’s advanced wireless broadband Internet network. 

Therefore, content distribution to those Internet TV channels is expected to generate about 70 per cent of the company’s revenue, while the rest will come from offline channels such as ticket sales at cinemas in Thailand and China.

“At this stage, we want to focus on co-production with Thai moviemakers and artists. In the future, we are seeking an opportunity to expand our online service here in Thailand and neighbouring countries like Malaysia and Singapore,” he said.

 

Tags:
Facebook Twitter
More in Business
Editor’s Picks
wmg-logo
Top News
wmg-logo