Strong Summer Box Office Helps Alibaba’s Film and Music Businesses Cut Losses in Quarter

Patrick Frater Asia Bureau Chief Wang Jianlin, the Chinese billionaire who previously sought to buy a controlling position in Hollywood, is preparing to complete his imminent exit from the film industry. The troubled conglomerate is facing debt repayment pressure.Wanda Film, which remains China’s largest cinema operator, Wednesday said in a regulatory filing to the Shenzhen Stock Exchange that Wang and his Wanda Investment vehicle expect to sell their remaining stake 51% in the company to China Ruyi Holdings. Ruyi, which operates across film, TV and online games, counts games, social media and streaming giant Tencent among its largest shareholders.

Patrick Frater Asia Bureau Chief Universal Music Greater China has signed a strategic partnership with Mandarin-language music superstar Jay Chou and his record label JVR Music. The agreement secures global marketing and distribution rights for Chou’s extensive music catalogue and for future projects. It also supports rising talent from his label, including artists Patrick Brasca and Young (aka Cao Yang) through JVR. Nicknamed the ‘King of Mandopop’ Chou has a two decade career that spans 15 studio albums, eight world tours and 378 concerts in Asia, America, Europe, and Australia.

Patrick Frater Asia Bureau Chief China and Netherlands-based Fortissimo Films has picked up international sales rights to anticipated Chinese blockbuster movie “If You Are the One 3.” To be released on Dec. 30 in China, the picture is directed by Feng Xiaogang as the second sequel in his anti-romance comedy franchise, about a rich businessman and an air stewardess, which kicked off in 2008 and earned a follow-up in 2010.

Patrick Frater Asia Bureau Chief Macau casino operator, Sands China entered into a strategic partnership with Chinese streaming company Tencent Video and Chinese cinema ticketing firm Maoyan Entertainment. The three parties will team up to host large-scale offline events, content creation of lifestyle and entertainment programs and online marketing and promotion. Operating The Venetian Macao, The Parisian Macao and The Londoner Macao casino resorts, Sands runs several large entertainment facilities in Macau, including the 15,000-seat Cotai Arena, the 1,800-seat Venetian Theatre, the 6,000-seat The Londoner Arena, the 1,200-seat The Parisian Theatre, and the 1,700-seat Londoner Theatre. The three will co-organize events in Macau including live performances, concerts, films, TV series, variety shows, sports and cultural activities.

Patrick Frater Asia Bureau Chief Ridley Scott’s historical epic “Napoleon” was cruelly defeated at the mainland Chinese box office, where it opened in only fifth place on its opening weekend. Chinese crime thriller “Across the Furious Sea” headed the mainland China charts for a second weekend, earning $20.0 million (RMB142 million), according to data from consultancy Artisan Gateway. “Napoleon” earned just $2.8 million ($19.6 million) in China, according to the firm whose figures are generally considered as final, not estimates. The film earned generally mixed to positive reviews, but only a middling score of 6.6 out of 10 from users of the Douban movie fan site. But it appears that Chinese audiences found the travails of an ancient French emperor to be too much of a specialist topic.

Patrick Frater Asia Bureau Chief Negotiations are under way to secure a December or more likely an early January release for Taylor Swift’s “The Eras Tour” movie in mainland China cinemas. The film, which has grossed some $250 million worldwide since debuting on Oct. 13, is currently being reviewed by Chinese authorities.

Naman Ramachandran Sandeep Vanga Reddy’s blood-soaked Bollywood epic “Animal,” starring Ranbir Kapoor, emerged as the No. 1 film globally with $42.1 million, according to data published by ComScore. “Animal” released across 38 global territories.

Patrick Frater Asia Bureau Chief “Full River Red,” the Zhang Yimou-directed period comedy-drama that released in January this year has earned its producer Huanxi Media Beijing the 2023 Asia Pacific Box Office Achievement Award at the CineAsia convention. The convention gets under way Monday in Bangkok and will run till Thursday (Dec. 4-7).

Refresh for latest…: New global entry Queen Bey’s concert movie/documentary Renaissance: A Film By Beyoncé put a ring on a $27.4M global debut this weekend. Included in that is $6.4M from 2,621 overseas cinemas.

Mark Shelmerdine, the veteran producer who revived London Films as an indie powerhouse and played a pivotal role in the development of the international TV distribution market, died October 26 in Santa Barbara surrounded by his family. He was 78.

Patrick Frater Asia Bureau Chief Ridley Scott’s “Napoleon” could be facing a Waterloo in China, where early box office indications point to a disappointing opening shot. The Apple Original Films production had clocked RMB6.1 million ($860,000) by 7:45 p.m. local time in mainland China on Friday, according to estimates from ticketing and box office tracking firm Maoyan.

Naman Ramachandran Sony’s magnum opus “Napoleon,” directed by Ridley Scott, debuted atop the U.K. and Ireland box office with a regal £5.2 million ($6.6 million), according to numbers from Comscore. In its second weekend, Lionsgate’s “The Hunger Games: The Ballad Of Songbirds And Snakes” dropped down a spot to second place with £2.6 million for a total of £10.1 million.

Patrick Frater Asia Bureau Chief Chinese films “Trending Topic” and “The Invisible Guest” will be given theatrical releases in Malaysia and Singapore in the coming month. This step follows agreements between Chinese streamer iQiyi and Malaysian cinema chain GSC and Singaporean distributor Clover Films.

Patrick Frater Asia Bureau Chief China’s nationwide annual box office passed the symbolic $7 billion and RMB 50 billion marks in recent days, confirming a decent, but still incomplete recovery of the theatrical cinema industry. According to consultancy Artisan Gateway, the running box office total to Nov. 26 was $7.15 billion.

Amazon/MGM’s Saltburn, the dark-comedy sendoff of British upper class, expanded nicely in a big jump from seven screens to 1,566, nabbing a spot in the top ten. The film by Emerald Fennell (Promising Young Woman) grossed $1.73 million for the three-day weekend and $2.7 million for the five-day Thanksgiving frame thanks to a strong core group of theaters.

Patrick Frater Asia Bureau Chief The husband and wife team of Otsuka Ryuji and Huang Ji, who worked with a minimalist crew and mostly non-professional actors, gave a round of thanks to Asian leading auteurs for inspiring them, and then hugged each other on stage for winning the Taipei Golden Horse Film Awards best narrative feature prize with their pregnancy drama “Stonewalling.” The numerical winner on Saturday night was “Old Fox,” which earned the best director award for Hsiao Ya-chuan, as well as the best supporting actor, makeup and costume, and best film score prizes. The nominations, announced in October, saw “Snow in Midsummer” collect nine nominations and Taiwan‘s Oscar contender “Marry My Dead Body” head the field with eight.

Patrick Frater Asia Bureau Chief The Taipei Golden Horse Film Festival drifted to a conclusion in midweek, with project awards presented on Wednesday, followed by Thursday’s festival closing events. These involved a screening of portmanteau film “Tales of Taipei” followed by a sit-down dinner-cum-ceremony with a breezy pair of speeches and no prizes. The film fortnight then sprang to life again on Saturday evening when the 60th edition of the Golden Horse Film Awards represented a new climax.

Patrick Frater Asia Bureau Chief Marco Mueller, the veteran film festival curator and director, is set to launch a new festival and market in Macau. It will have its first edition in January. The Asia-Europe Young Cinema Festival, running Jan.

Patrick Frater Asia Bureau Chief Producer and screenwriter, Darren Dale has been named as the new board chair of the Sydney Film Festival, following the retirement of Dianne Weir. He is a leading advocate for Aboriginal and Torres Strait Islander content and has been director of Blackfella Films since 2000.

Patrick Frater Asia Bureau Chief iQiyi, the NASDAQ-listed Chinese streaming firm, confirmed its recent swing from loss to profitability with a July-September quarter that saw revenue and profits growth even as subscription numbers dipped fractionally. Net income attributable to iQIYI was RMB476 million ($65.2 million), compared to a net loss of RMB396 million in the same period in 2022, the company said in a filing on Tuesday. Using the company’s preferred non-GAAP statement of its accounts, net income was RMB622 million ($85.3 million), compared to non-GAAP net profits of RMB187 million in the same period last year. Total revenues in the period were RMB8.0 billion ($1.1 billion), a 7% year over year increase. Within that figure, subscription revenue was RMB5.0 billion ($687 million), up 19% year over year.