Oriental DreamWorks Join Hands with China Film Co., Ltd. Again to Nurture a New “Super IP” for Merchandising
SHANGHAI, China, April 18, 2016—Oriental DreamWorks and China Film Co., Ltd. (CFC) jointly announced a new partnership during the 6th Beijing International Film Festival. A memorandum of understanding (MOU) was inked between two companies for strategic cooperation on merchandising of “Troll”. Starring Justin Timberlake and Anna Kendrick, “Trolls” is DreamWorks Animation’s latest animated feature slated to open this November in North America. Building upon previous cooperation on “Kung Fu Panda 3” merchandises, Oriental DreamWorks and China Film Co., Ltd. have worked together again on further harnessing the creativity and cultural connotation in animated movies to bring quality animation IP from the big screen to consumers’ daily life. In doing so, both companies aim at nurturing a “Super IP” that covers all aspects and setting a new benchmark for merchandising in China.
From the creators of “Shrek” comes the most smart, funny animated comedy of the year. “Trolls” will bring the audience into a colorful, wondrous world populated by hilariously unforgettable characters and discover the story of the overly optimistic Trolls, with a constant song on their lips, and the hilariously pessimistic Bergens, who are only happy when they have trolls in their stomach.
At the MOU Signing Ceremony, Oriental DreamWorks licensed China Film Co., Ltd. the rights to participate in production and design for “Trolls” merchandise, including apparel, accessories, and daily necessities. As for other business cooperation, both companies will actively explore opportunities for joint movie promotion, IP licensing, premiums and etc..
“It is our pleasure to join hands with China Film Co., Ltd. again. Our first cooperation on ‘Kung Fu Panda 3’ merchandise turned out a huge success and has been well received by the market, “said James Fong, CEO of Oriental DreamWorks. “As a leading player in China’s movie sector, China Film Co., Ltd. is known for its excellent brand power, all-round business portfolio and integrated resources. By partnering with China Film Co., Ltd, Oriental DreamWorks expects to leverage strengths from two companies to keep offering consumers in China and around the world a variety of quality consumer products as well as entertainment experiences, contributing to the overall development of China’s movie merchandising sector.”
As shown in the report from the State Administration of Press, Publication, Radio, Film and Television of the People’s Republic of China (SAPPRFT), fuelled by the skyrocketing Chinese movie market in recent years, movie merchandising is entering into a golden period of rapid development. Quality IP is key to the success of China’s movie merchandising sector.
“Movie merchandise development is one of China Film Co., Ltd.’s top priorities. World class contents from Oriental DreamWorks and DreamWorks Animation can offer great IPs and lay a solid foundation for merchandise development in the later stages. We have been actively exploring various sales channels, including cinemas, shopping malls, supermarkets and chain stores, as well as more diverse collaborative approaches. China’s movie merchandise sector is witnessing fast growth. We expect to establish new benchmarks in the industry through our highly complementary and mutually beneficial cooperation with Oriental DreamWorks,” said La Peikang, Chairman of China Film Co., Ltd..
DreamWorks Animation CEO Jeffery Katzenberg is also very excited about the new partnership. “The cooperation between Oriental DreamWorks and China Film Co., Ltd. is going to bring amazing ideas to the design and development of merchandise for this movie. Furthermore, our movie fans will get to enjoy numerous fun and unique experiences beyond the big screen in the near future.”