After IPO, Endeavor President Plans "Thoughtful" Acquisitions, "Long-Term" China Bet

Patrick Frater Asia Bureau ChiefBaidu was once one of the big three entertainment tech firms in China and remains the majority owner of streamer iQIYI.

Patrick Frater Asia Bureau ChiefChinese streaming firm iQIYI published first quarter results that were better than its previous guidance and a lengthy letter to shareholders asserting that it has the best content model and technology in the sector.In a regulatory filing, the company said that revenues in the January to March first quarter of its 2021 financial year had grown 4% to RMB8.0 billion ($1.2 billion) and that net losses had been more than halved, falling from RMB2.9 billion in the

Rebecca Davis editorSony Music Entertainment (SME) said Monday that it has signed both a new direct China digital distribution deal with NetEase Cloud Music and a multi-year extension of its existing agreement with Tencent Music Entertainment (TME).Sony’s NetEase deal is the latest to shift power away from TME in China’s streaming industry and make the space slightly more competitive. It comes amidst a government antitrust probe of TME and its parent company Tencent Group.

Patrick Frater Asia Bureau ChiefZhang Yimou’s period espionage thriller “Cliff Walkers” ran out a comfortable winner at the mainland Chinese box office, ahead of other holdovers and new release titles including Jason Statham-starring “Wrath of Man.”“Cliff Walkers” dropped only 32% between its second and third weekends, taking $16.6 million between Friday and Sunday, according to data from consultancy Artisan Gateway.

China has joined the United States in safely sending an unmanned lander to Mars.

Tiffany Moon is signing off.

Rebecca Davis editorShe may not be a household name anywhere other than her native China, but Chinese helmer Jia Ling has officially overtaken Patty Jenkins as the world’s highest-grossing female director for a single film.After an extended three-month run, Jia’s Chinese New Year blockbuster “Hi, Mom,” finally left Chinese theaters Tuesday. It has grossed $838 million (RMB5.41 billion) since its Feb.

After Jeff Bezos and MacKenzie Scott’s divorce in 2019, Bill & Melinda Gates is the separation making rounds in the global media. Assumptions, factual or heard are being made to scrape the root cause behind the separation of two successful philanthropist billionaires.

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Gemma Chan is speaking out about the ongoing anti-Asian racism happening in the United Kingdom, as well as all over the world.

Refresh for latest…: Yet another international box office frame was led by Chinese movies in their home market as local May Day holdovers continued play coming off a record holiday session. While a handful of studio titles are doing business in other pockets of the world, we are in something of a holding pattern until majors like the UK and France begin opening in the coming weeks, and as Universal’s F9 is expected to rev up overseas turnstiles for Hollywood starting on May 19.

Wanda Film, part of the Dalian Wanda group, has appointed financial advisers in Australia and may be preparing to sell the Hoyts cinema chain, according to local reports.According to the Australian Financial Review newspaper, investment bank Credit Suisse has been appointed by Wanda to find bidders for Hoyts.

Brent Lang Executive Editor of Film and MediaThe coronavirus pandemic continued to be a drag on IMAX’s earnings during the first quarter, but there were signs that a box office revival in Asia could foreshadow a moviegoing return in the U.S. and other markets.