James Cameron eyes Chinese market with 3D joint venture
Published: 9th Aug 2012 02:27:03
James Cameron, the creator of the blockbuster film Avatar, has announced a joint venture with two Chinese firms in a bid to capture the country's fast-growing movie market.
His firm, Cameron Pace Group and its Chinese partners will develop advanced equipment for 3D filming.
The move comes amid a boom in China's movie industry and a growing demand for 3D films in the country.
Various Hollywood filmmakers have been trying to tap into the Chinese market.
"The future of entertainment is 3D and we believe that the future of 3D is right here in China," Mr Cameron was quoted as saying by the Associated Press news agency.
Earlier this year, Chinese authorities had announced that they will allow an additional 14 foreign films to be shown in the country, if the movies are made in 3D or for the big-screen Imax format.
China's movie industry has seen robust growth in the past few years.
Ticket sales in the world's second-largest economy surged 29% to 13.1bn yuan ($2.1bn; £1.3bn) in 2011. They are forecast to rise further, by around 20% in the current year.
The growth in its market has seen various Hollywood filmmakers and studios announcing joint ventures with Chinese firms.
Earlier this week, Dreamworks Animation announced plans to co-produce the next Kung Fu Panda movie with its Chinese partners. The firm said it was also planning to open an entertainment district in the country.
In April, Walt Disney Company, the world's largest entertainment firm, said that it plans to co-produce Iron Man 3 with Beijing-based DMG Entertainment.
Mr Cameron said that the robust growth in the country's market made it attractive destination.
"This is the best place for us to create a kind of a second home," he said.
At 04:17:16 in Northern IrelandScotland and Northern Ireland have a long history of cultural ties and economic links. But if Scotland votes "Yes" to independence in September, how would people in Northern Ireland feel and how might it affect politics?
At 04:09:25 in EnglandHS2 - the proposed high speed rail link from London - is supposed to help bridge the North-South divide. But the debate surrounding the controversial project has arguably opened up a divide between councils in the North, who welcome the scheme, and those further south which do not.
At 04:09:12 in HeadlinesAt least 18 people have been killed in landslides that struck Japan's Hiroshima prefecture, reports say.
At 03:55:24 in EnglandOn a hot, late-summer evening in 1989, the Marchioness pleasure boat, packed with more than 130 partygoers, collided with the dredger Bowbelle and sank in the River Thames, killing 51 people. Twenty-five years on, survivors and victims' families recall what happened and the legacy that remains.
At 03:51:43 in HeadlinesEvery year we raise and eat 65 billion animals, that's nine animals for every person on the globe, and it's having a major impact on our planet. So what meat should we eat if we want to be eco-friendly carnivores? Is it better to buy beef or chicken, free range or factory farmed? As Dr Michael Mosley discovers for BBC Horizon, the answers are far from obvious.
At 03:01:28 in HeadlinesA new crime of domestic abuse could be created under plans being considered by ministers.
At 02:22:03 in HeadlinesPolice in Paraguay have arrested a fugitive Brazilian fertility doctor, Roger Abdelmassih, sentenced for sexually abusing 39 of his patients.
At 02:17:07 in PoliticsMental health services for young people in England are "stuck in the dark ages" and "not fit for purpose", according to a government minister.
At 02:13:04 in BusinessAustralia's Woodside Petroleum has seen a 27% jump in first half profit, mainly driven by higher prices for its key product - liquefied natural gas (LNG).
At 02:11:06 in WorldWest Africa's Ebola epidemic, the deadliest on record, presents particular challenges for medical staff. Here, Irish doctor Gabriel Fitzpatrick describes working for Medecins Sans Frontieres (MSF) at the centre of the outbreak in Sierra Leone:
Harvard CitationBBC News, 2012. James Cameron eyes Chinese market with 3D joint venture [Online] (Updated 9th Aug 2012)
Available at: http://www.ukwirednews.com/news/1445256/James-Cameron-eyes-Chinese-market-with-3D-joint-venture [Accessed 20th Aug 2014]
News In Other Categories
Scotland and Northern Ireland have a long history of cultural ties and economic links. But if Scotland votes "Yes" to independence in September, how would people in Northern Ireland feel and how might it affect politics?
The new Inbetweeners film has continued to dominate the UK and Ireland box office, leaving the latest Expendables sequel floundering in its wake.
An amateur radio enthusiast who raped a teenage boy who shared his interest has been jailed for nine years.
HS2 - the proposed high speed rail link from London - is supposed to help bridge the North-South divide. But the debate surrounding the controversial project has arguably opened up a divide between councils in the North, who welcome the scheme, and those further south which do not.
Australia's Woodside Petroleum has seen a 27% jump in first half profit, mainly driven by higher prices for its key product - liquefied natural gas (LNG).
As the people of Scotland weigh up how to vote in the independence referendum, they are asking questions on a range of topics from the economy to welfare.