Shanghai Media Group, Warner Bros. Entertainment Inc., CMC Capital Partners (CMC), RatPac Entertainment LLC and WPP today announced plans to create an investment platform to invest in Chinese and international entertainment content including film, television, and live entertainment, according to a joint announcement.
The vehicle, called CMC Creative Fund, will focus on individual projects in three key areas: films, television properties, as well as live stage and theatrical events, including musicals.
No financial details of the fund were disclosed.
"CMC has focused on investing in key areas within the ecosystem of China’s content creation industry since its inception," says Li Ruigang, chairman of CMC.
"Chinese audience’s demand for high quality content has increased exponentially in the past few years, while the taste and consumption behavior of the young generation have also been rapidly evolving," Li adds.
This new joint effort will combine creative development, production experience, industry resources and talent development with the development of the rising demand of the Chinese audience, says the statement.