After a brutal first quarter for most Chinese movie studios, companies from the Middle Kingdom are still out in force at the Cannes Film Festival, but in search of quality and value for money instead of swagger and prestige.
About 600 Chinese representatives have flocked to the Cote d’Azur, about the same number as last year, according to the festival. But industry execs say Chinese buyers are likely to be more circumspect and price-conscious, with their sights set on a limited number of plum acquisitions.
That contrasts with last year, when Fan Bingbing was still strutting her stuff on the Croisette and China rights to her “355” project with Jessica Chastain traded hands for a reported $20 million. A major tax crackdown, a new industry regulator and a slowing box office have since created a winter freeze in China worthy of “Game of Thrones.” Production has plummeted, financiers have fled and audiences have grown pickier,...
About 600 Chinese representatives have flocked to the Cote d’Azur, about the same number as last year, according to the festival. But industry execs say Chinese buyers are likely to be more circumspect and price-conscious, with their sights set on a limited number of plum acquisitions.
That contrasts with last year, when Fan Bingbing was still strutting her stuff on the Croisette and China rights to her “355” project with Jessica Chastain traded hands for a reported $20 million. A major tax crackdown, a new industry regulator and a slowing box office have since created a winter freeze in China worthy of “Game of Thrones.” Production has plummeted, financiers have fled and audiences have grown pickier,...
- 5/14/2019
- by Patrick Frater and Rebecca Davis
- Variety Film + TV
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