China's Wanda Learns From Disney, Bags 12% of Global Box Office Revenues
Tang Shihua
DATE:  Jun 21 2018
/ SOURCE:  Yicai
China's Wanda Learns From Disney, Bags 12% of Global Box Office Revenues China's Wanda Learns From Disney, Bags 12% of Global Box Office Revenues

(Yicai Global) June 21 -- China's Wanda Group has acquired such a massive number of screens worldwide so that 12 percent of the global box office revenues fattens the firm's profits. The entertainment giant says it is learning merchandising from Disney. 

Wanda owns nearly 16,000 screens worldwide, thanks to its international investment strategy which has targeted the US, Europe, and Australia for many years, the Beijing-based firm's website shows. Some of Wanda's investments include two US-based firms AMC Entertainment and Carmike Cinemas, European Odeon & UCI Cinemas Group, and Australian Hoyts Cinema.

Disney has been a role model for Wanda, Zeng Maojun, president of Wanda Film told to state-backed The Paper. "Disney is one of the most successful companies across the globe in terms of integration of IP with real-life scenarios, allowing it to improve the proportion of non-movie revenue and significantly strengthen its business advantages."

Wanda hopes that all of its IP products will be connected with commercial business scenarios. "We have the largest cinema chain in the world and the biggest children's entertainment firm in China. By the end of this year, we will have more than 300 franchise stores for children. Moreover, Wanda has plans for 13 theme parks, of which 5 are already under construction," Zeng added.

Editor: Emmi Laine

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Keywords:   Wanda,Movie Theaters,IP,Theme Park,Derivative,Entertainment