China Media and Entertainment Weekly News Bulletin – ISSUE 4 Week of 24 June 2024
(1) Chinese film Moments We Shared Surpasses Inside Out 2 and Bad Boys: Ride or Die in Box Office
Chinese film Moments We Shared dominates box office, earning $19.4 million in two days, surpassing Hollywood films Inside Out 2 and Bad Boys: Ride or Die.
(2) Twilight of the Warriors: Walled In Surpasses HK$100 Million at Box Office
The highly successful Hong Kong film, Twilight of the Warriors: Walled In, has exceeded HK$100 million in box office earnings. With the addition of a 4-minute segment, it aims to attract more viewers and has performed exceptionally well in mainland China and Malaysia.
(3) Chinese Brands Take the Lead in UEFA European Championship Sponsorship
Five Chinese brands, including Hisense, Vivo, BYD, AliExpress, and Ant Group, are among this year’s 13 main sponsors for the UEFA European Championship, highlighting the international success of Chinese companies.
(4) Tencent Video and TVB Join Forces Again
TVB and Tencent Video announce co-production of dramas and the launch of classic TVB dramas on Tencent Video.
(5) Hong Kong Unveils Comprehensive Personal Data Protection Framework for Artificial Intelligence
PCPD has released a framework for businesses using generative AI services, encouraging the implementation of measures to safeguard personal data. While compliance is not mandatory, it sets robust guidelines to safeguard personal data in the absence of specific AI regulations in Hong Kong.
(6) Cultural & Creative Industries Development Agency replaces Create Hong Kong
On 24 June 2024, Create Hong Kong was restructured as the Cultural and Creative Industries Development Agency (CCIDA) under the Culture, Sports, and Tourism Bureau of Hong Kong, aiming to promote the industrialisation of arts, culture, and creative sectors.
(7) Shu Qi Joins Oscars Judging Committee
The Academy of Motion Picture Arts and Sciences has announced its new judging committee members, which includes renowned actress Shu Qi and various prominent Asian celebrities.
(8) Netflix Promotes local content in Indonesia, Thailand, Philippines
Netflix is increasing its focus on local content (which now represents 12% of total viewership) in Indonesia, Thailand, and the Philippines to meet the growing demand for homegrown entertainment in Southeast Asia.
(9) Interactive Venue “Netflix House” to be launched in 2025
In 2025, Netflix will introduce “Netflix House”, an interactive venue featuring immersive experiences based on popular shows and movies, to be located in major shopping malls offering unique food, drink, and merchandise inspired by Netflix content, along with outdoor art installations.
(10) Middle East and Indian Family Offices Show Interest in Investing in Hong Kong
Hong Kong has become a prime destination for family offices from the Middle East and India, with growing interest in investment opportunities over the past six months. The presence of family offices, hedge fund managers, and private equity fund managers in Hong Kong has increased by 24% in the last three years, surpassing Singapore.
(1) Chinese film Moments We Shared Surpasses Inside Out 2 and Bad Boys: Ride or Die in Box Office
(Photo Credit: Baidu/北京深定格文化傳媒有限公司)
The Chinese film Moments We Shared (雲邊有個小賣部) dominated the box office with impressive earnings of US$19.4 million (equivalent to around CNY141 million) within just two days of its release, outshining the Hollywood blockbusters Inside Out 2 and Bad Boys: Ride or Die (starring Will Smith). Inside Out 2 made US$10.3 million (equivalent to around CNY74.8 million) at the box office over the weekend, while Bad Boys: Ride or Die earned US$2.83 million (equivalent to around CNY20.57 million) in its two-day opening.
Moments We Shared tells the story of a young man who is taken back to his countryside hometown by his grandmother after feeling lost in the hustle of city life. Written and directed by Zhang Jiajia, the film features a cast including Peng Yuchang, Zhou Ye, Ai Liya, Chen Xianen, Kong Lianshun, and Zhang Yifan.
News Source:
Variety – China Box Office: Local Drama ‘Moments We Shared’ Crushes ‘Inside Out 2’ and ‘Bad Boys: Ride or Die’ Debuts (https://variety.com/2024/film/news/china-box-office-weekend-moments-we-shared-crushes-inside-out-1236045403/#recipient_hashed=503b8d83fccf68ee6fc869f9ea7936d11cefbdf5b34c5df60372189cd3bfbbea&recipient_salt=f503f1d2b597b85348cc61762ea4f6ae895f2770f5510afcd7652ba3309e286c)
(2) Twilight of the Warriors: Walled In Surpasses HK$100 Million at Box Office
(Photo Credit: Tencent)
The Hong Kong film Twilight of the Warriors: Walled In has achieved remarkable success at the box office. Last week, its earnings surpassed HK$100 million, making it the second highest-grossing Hong Kong film.
Great anticipation surrounds the film’s potential to break the HK$115 million record set by The Guilty Conscience and become the new box office champion in Hong Kong.
The movie has introduced a 4-minute additional segment to attract new and returning audiences. This includes deleted scenes and clips that offer hints of a prequel.
The film has also enjoyed significant success in mainland China, accumulating approximately CNY 680 million in box office revenue over the past 1.5 months. It has now transitioned to online platforms in mainland China, such as Tencent and iQIYI.
Furthermore, in Malaysia, Twilight of the Warriors: Walled In has achieved the highest box office performance among Hong Kong films in the past five years.
News Source:
HK01 – 九龍城寨之圍城｜差1000萬破《毒舌》紀錄 內地轉戰網上放映 https://www.hk01.com/article/1031166?utm_source=01articlecopy&utm_medium=referral
(3) Chinese Brands Take the Lead in UEFA European Championship Sponsorship
(Photo Credit: UEFA European Championship)
For a considerable period, renowned international brands such as Volkswagen, Adidas, and VISA held a dominant presence on the billboards of the UEFA European Championship (UEFA). However, it was not until 2016 that China’s Hisense Group made history as the first Chinese sponsor in the tournament’s 56-year history.
This year, among the 13 main sponsors, five are Chinese companies: Hisense, Vivo, BYD (replacing Volkswagen as the official transportation partner), AliExpress, and Ant Group. Notably, Ant Group’s Alipay+ is sponsoring the Golden Boot trophy, awarded to the top scorer in the final match.
Several sponsors have achieved remarkable international success. AliExpress, a Chinese online retail service provider, became an official partner of the UEFA in March. Since then, the company has witnessed significant growth in sales of football-related products and shipping volume to Europe. Similarly, Hisense experienced a notable increase in global brand awareness from 37% to 54%, after their initial sponsorship of the UEFA eight years ago.
News Source:
HK01 – 歐國盃球場醒目漢字成另類焦點 中國企業藉機「出海」https://www.hk01.com/article/1031127?utm_source=01articlecopy&utm_medium=referral
(4) Tencent Video and TVB Join Forces Again
(Photo Credit: TVB)
TVB and Tencent Video have joined forces to co-produce a total of eight dramas. The first four, which include No Room For Crime (反黑英雄), Big Biz Duel (企業強人), No Return (巾幗梟雄之懸崖) (a spin-off the to the popular series Rosy Business (巾幗梟雄)), and Murder Diary: Episode 12 (刑偵12), are scheduled for simultaneous broadcast in Mainland China and Hong Kong in 2024. The remaining four dramas will be aired in 2025.
Tencent Video will launch an extensive collection of over 2,000 episodes of TVB classic dramas in Mainland China. The two companies are also exploring the integration of Tencent Video content into TVB’s myTV SUPER streaming platform. It is further announced that TVB will acquire Tencent Video’s dramas for broadcasting in Hong Kong including dramas based on Jin Yong’s martial arts novels.
News Source:
Sing Tao – TVB騰訊視頻簽新合作框架 定製劇增至8部 研myTV SUPER上架騰訊作品https://www.stheadline.com/realtime-finance/3357393/TVB%E9%A8%B0%E8%A8%8A%E8%A6%96%E9%A0%BB%E7%B0%BD%E6%96%B0%E5%90%88%E4%BD%9C%E6%A1%86%E6%9E%B6-%E5%AE%9A%E8%A3%BD%E5%8A%87%E5%A2%9E%E8%87%B38%E9%83%A8-%E7%A0%94myTV-SUPER%E4%B8%8A%E6%9E%B6%E9%A8%B0%E8%A8%8A%E4%BD%9C%E5%93%81
(5) Hong Kong Unveils Comprehensive Personal Data Protection Framework for Artificial Intelligence
(Photo Source: PCPD)
The Office of the Privacy Commissioner for Personal Data (PCPD) has recently published the “Artificial Intelligence: Model Personal Data Protection Framework”, providing essential guidelines for businesses incorporating generative artificial intelligence (AI) services. The framework aims to promote the protection of personal data and address the lack of specific AI regulations in Hong Kong.
According to the framework, enterprises utilising generative AI solutions are encouraged to implement various measures to safeguard personal data. These include conducting risk assessments, ensuring human oversight, minimising the use of personal data for AI training, and establishing an internal AI regulatory body led by C-level executives with direct reporting capabilities to the board.
Although adherence to the framework is not mandatory, it is deemed the most comprehensive set of AI-related regulatory guidelines in Hong Kong to date. As Hong Kong currently lacks specific laws or regulations governing AI, the framework sets a significant benchmark for businesses operating in this domain.
News Source:
SCMP – Hong Kong issues first AI data protection guidelines, promises more compliance checks (https://www.scmp.com/tech/policy/article/3266156/hong-kong-issues-first-ai-data-protection-guidelines-promises-more-compliance-checks)
(6) Cultural & Creative Industries Development Agency replaces Create Hong Kong
(Photo Source: ccidahk.gov.hk)
On 24 June 2024, Create Hong Kong was restructured and launched as the Cultural & Creative Industries Development Agency (CCIDA) under the Culture, Sports & Tourism Bureau of Hong Kong.
It is reported that according to Kevin Yeung, the Secretary of Culture, Sports & Tourism, CCIDA “will foster a better environment in Hong Kong and adopt an industry-oriented approach to further promote the industrialisation of arts, culture and creative sectors.” CCIDA will also assist the industry in expanding into international markets and fostering the creation and production of intellectual property. The newly launched CCIDA signed several MOUs with three well known Mainland cultural and creative brands in an effort to facilitate further collaboration between Hong Kong and Mainland brands in the areas of “market development, promotion and exchanges”. In addition, the CCIDA will set up a dedicated team to actively assist in the overseas promotion and marketing of local IP creation and production.
News Source:
news.gov.hk – New Creative Agency Launched – (https://www.news.gov.hk/eng/2024/06/20240624/20240624_162959_219.html)
(7) Shu Qi Joins Oscars Judging Committee
(Photo Credit: Vogue Taiwan)
The Academy of Motion Picture Arts and Sciences, the organizer of the Oscars, announced the list of new members of the judging committee. Among the selected individuals is Shu Qi, who has previously served as a judge at three major European film festivals, namely Berlin, Cannes, and Venice.
This year, the Academy added 487 new members, many of whom are Asian celebrities. Notable additions include Yuen Woo-ping, known for his work as HK’s martial arts choreographer and film director, Jiang Dongyuan from South Korea, Koji Yakusho from Japanese, Celine Song from Canada, as well as Liu Taiwu and Greta Lee (both Korean-American actors). The new members’ roster also includes Greta Gerwig, the director of Barbie, Jessica Alba, and several other actresses, actors, and behind-the-scenes professionals who won Oscars this year.
News Source:
(8) Netflix Promotes local content in Indonesia, Thailand, Philippines
(Photo Credit: Reuters)
A recent report shows that local content in Southeast Asia accounts for 12% of total viewership, competing directly with the popularity of Japanese Anime, which represents 11%. Netflix recognises the increasing desire for homegrown entertainment in Southeast Asia and is taking steps to meet this demand head-on. By intensifying its focus, Netflix aims to produce more local content in Indonesia, Thailand, and the Philippines.
This year, Netflix plans to release 10 original productions from Thailand and six from Indonesia, marking a significant increase compared to previous years. These offerings will span various genres, including comedy, crime thriller, and sci-fi supernatural, offering a refreshing departure from the dominance of horror and drama in local movies. Notable examples of Netflix’s original content include Nightmares and Daydreams, a supernatural-science fiction project directed by Joko Anwar from Indonesia, and the Thai dramedy series Doctor Climax.
News Source:
Nikkei – Netflix ups local content in Indonesia, Thailand, Philippines
(9) Interactive Venue “Netflix House” to be Launched in 2025
(Photo Credit: Tudum/ Netflix)
Netflix is set to revolutionise entertainment with the launch of “Netflix House” in 2025. This groundbreaking venue will transport visitors into the world of their favourite Netflix shows and movies through immersive and unexpected experiences.
The first two Netflix House locations will be situated in expansive spaces within major shopping malls, each occupying over 100,000 square feet. Visitors can look forward to regularly updated immersive encounters that fully immerse them in the magic of Netflix content. Moreover, exclusive Netflix merchandise, and sample unique food and drink options inspired by beloved Netflix titles will be available for purchase.
Beyond the indoor experiences, the Netflix House locations will also feature eye-catching sculptures and character murals for fans to enjoy outside the main facilities.
News Source:
TUDUM – Netflix House Will Let You Experience Your Favorite Shows, Movies in Real Life (https://www.netflix.com/tudum/articles/netflix-house)
(10) Middle East and Indian Family Offices Show Interest in Investing in Hong Kong
(Photo Source: InvestHK)
Family offices from the Middle East and India have set their sights on Hong Kong as an attractive investment destination, aiming to diversify their portfolios across real estate projects, IPOs, and business collaborations. According to Jessica Cutrera, Chairman of the Family Office Association Hong Kong, these family offices have shown significant interest in the past six months.
Over the past three years, Hong Kong has experienced a notable 24% increase in the presence of family offices (reportedly 2,700 single-family offices in Hong Kong), hedge fund managers, and private equity fund managers. This surge has propelled Hong Kong ahead of Singapore in terms of attracting investment professionals.
The Securities and Futures Commission has reported that local funds received substantial inflows of 8.2 billion yuan (HK$8.8 billion) in the first four months, surpassing last year’s inflows of 5.9 billion yuan and pre-pandemic inflows of 7.2 billion yuan in 2019. This increase is attributed to the optimisation of mutual recognition of funds between Mainland China and Hong Kong.
News Source:
The Standard – Middle East, India family offices are now eyeing city (https://www.thestandard.com.hk/section-news/section/47313212/263854/Middle-East,-India-family-offices-are-now-eyeing-city)
