Economic review

Digital: new model for film profits

2017-06-19 14:40:00 (Beijing Time)         Shanghai Daily

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Chinese Film Industry Summit Forum is held in Shanghai, June 18, 2017. (Photo/Shanghai Daily)

Analysts and major players are generally optimistic about the impact digital platforms and technologies can bring to the film industry, with more efficient marketing and an easier reach for potential audience, the Chinese Film Industry Summit Forum heard on Sunday.

Yu Yongfu, chairman of Alibaba Pictures, said his company hoped to provide digital infrastructure services for film distribution, marketing and development of film or TV series derivatives.

Michael Shamberg, American TV and film producer whose credits include "Pulp Fiction" and "Django Unchained," said: "China is way ahead of the U.S. in terms of audience reach (through digital channels) and online streaming to audience."

Some US production houses and Internet companies are also applying tech mentality to the film business and have in some ways helped reduce the cost of production and marketing.