Alibaba, Tencent, Xiaomi, BBK Electronics, Huawei, and Dalian Wanda are changing the products and services you use, whether you know it or not.
In the past year, no industry has attracted more Chinese interest (and raised American alarm) than entertainment, which Chinese companies are pursuing with a mix of prodigious capital and strategic deal-making. Tencent and real estate giant Dalian Wanda have joined Alibaba in committing billions of dollars to help produce the kind of technologically ambitious and expensive film and TV projects that appeal to global audiences. Given the idiosyncrasies of the Chinese market (traditional Western advertising campaigns tend to fall flat there, and the country places strict quotas on non-Chinese films), American studios need to partner with these companies to access this key element of the global box office. "If you’re going to spend over $100 million on a movie and ignore the Chinese market," says Max Michael, head of Asian business development for the United Talent Agency, "you’re not doing your job right."
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