Announcing Eros and China Deal
Eros International emerges as most preferred business partner for Indo-Chinese collaborations in film and entertainment
Three major tie-ups announced in the presence of Prime Minister Narendra Modi with state-owned China Film Group, Shanghai Film Group & Fudan University for mutual co-operation in the field of film and entertainment.
Mumbai, May 18, 2015: Eros International, India’s leading global film entertainment company, has announced landmark deals with three major most-respected Chinese state owned film and entertainment companies to promote, co-produce, distribute and unlock value in respective intellectual properties for Sino-Indian films across all platforms in both the countries.
The Memorandum of Understandings (MoUs) were signed by Mr. Sunil Lulla, Managing Director, Eros at the recently concluded India–China Business Forum in Shanghai,attended by Indian Prime Minster, Mr. Narendra Modi.
The MoUs entail the prospective co-production and distribution of Sino-Indian films with several Chinese government owned production houses including ChinaFilm Group Corporation (CFGC) and Shanghai Film Group Corporation (SFG). Eros has also announced one of its first projects, co-produced with CFC titled DA TANG XUAN ZANG (Monk Xuan Zang) starring China’s most popular and multi faceted actor, Huang Xiaoming, directed by Huo Jianq. This first co-production project opens up avenues for Eros for local content creation in China. Under the co-production treaty, a film designated as a co-production will not be considered a foreign film and therefore avoids any associated restrictions.
The collaboration with the Shanghai Film Group Corporation incorporates exploitation of intellectual property rights owned by each party in their respective markets, development, co-production and distribution of film projects for both India & China. The treaty paves the way for Eros to become the preferred Indian film partner in China.
The association with Fudan University includes the ability for Eros to license Fudan’s IP for remakes or co-productions in India. Fudan will also assist Eros in obtaining publishing licenses for the promotion and distribution of the films from the Eros library in China across various platforms including dubbing them or remaking them to suit local audience tastes.
Commenting on this milestone, Mr. Sunil Lulla, Managing Director, Eros International Media Ltd said,“This is a very proud moment for us at Eros to be associated with the biggest and most-respected Chinese media companies. We are humbled by the gestures that make us the most preferred partner in the field of media and entertainment and we are committed to helping both countries expand their market and audience instantly to over 2.5 billion people. We are really excited about the possibilities and the potential and making films together is just the tip of the ice-berg as we hope to extend these partnerships across all platforms including online.”
Speaking on the occasion on behalf of China Film GroupCorporation, Chairman Mr. La Peikang said “Wish India and China collaboration will be more and more fruitful”.
Mr. Ren Zhonglun, President of Shanghai Film GroupCorporation commented, “Eros is a very respectable company which we always looked forward to working with. This strategic partnership MOU between Eros and SFG fits into the general background of the collaboration between two countries India and China. It is also the fruit of collaborative effort on resource sharing by film makers from two countries. China and India together have 2.5 billion population with great market potential. Both as Asian countries, we share a lot of similarities in terms of culture, religion and art. There is big space is movie co-operation. We expect to visit back to India and Eros in the near future to further our collaboration”.
