Oscar-winning director announces joint 3D venture between his new firm CPG China Division and two local Chinese companies.
James Cameron is to bring the 3D revolution to China after announcing a joint venture with two local companies.
The Oscar-winning director and vocal proponent of stereoscopic technology has been renting 3D cameras to film-makers in the US and elsewhere for a number of years via his company The Cameron Pace Group, earning a reported $58m (£37m) last year. His new firm, CPG China Division, will aim to take advantage of the rapid growth in Chinese cinema audiences by working with studios in the world’s most populous nation.
“The future of entertainment is 3D and we believe that the future of 3D is right here in China,” Cameron told the Associated Press. This is the best place for us to create a kind of a second home.”
The film-maker, whose blockbuster science-fiction epic Avatar helped spark Hollywood’s current love affair with 3D, also re-released his 1997 film Titanic in stereoscope earlier this year. The two films are currently the highest grossing movies of all time at the worldwide box office.
Titanic 3D was hugely popular in China, where Hollywood films have historically been limited to no more than 20 a year. It garnered the biggest opening of all time in the country, with a staggering $58m, far higher than it managed in its north American bow.
China said earlier this year that it will relax its quota, allowing an additional 14 foreign films to be screened providing they are made in 3D or for the big-screen Imax format. Hollywood is also testing the water with a number of investment projects designed to circumvent restrictions, such as Disney’s decision to shoot Iron Man 3 partly in China with support from local company DMG Entertainment.
Rival studio DreamWorks Animation has set up a Shanghai-based studio which is due to release its first films in 2016. It will also work with Chinese partners to open a 20 billion yuan theme park in the city to coincide.
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