Paramount Pictures, China Movie Channel and Jiaflix Enterprises announced today that they have entered into a Cooperation Agreement regarding the production of Transformers 4 in China. The Cooperation Agreement was signed on April 1, 2013 in Beijing and Los Angeles.
Pursuant to the agreement, China Movie Channel, under the State Administration of Radio Film and Television (SARFT), will cooperate with Paramount in broad-based support of the production of the film in China. Transformers 4 is expected to be released in China on or about June 27, 2014. The parties also intend to cooperate in a number of other areas related to Transformers 4, including the selection of filming sites within China, theatrical promotion, and possible post-production activities in China as well as casting of Chinese actors and actresses in the film.
This agreement represents the first time that China Movie Channel will work with a western studio in the production of a major motion picture.
The unprecedented agreement followed a meeting with Mr. Tong Gang, Vice Minister of SARFT with the Transformers 4 production leaders including director Michael Bay, producer Lorenzo di Bonaventura and Paramount Vice Chairman Rob Moore, along with Jiaflix Chairman Sid Ganis and President Marc Ganis at SARFT's official Reception Hall in Beijing. Minister Tong expressed support for the newly formed China Movie Channel/Jiaflix cooperation with Paramount.
The Transformers movies are among the most popular films ever released in China, and Michael Bay is among the most popular directors with Chinese audiences. Transformers: Dark of the Moon, released theatrically in 2011, grossed $165 million in China and over $1.1 billion worldwide.
Here's what director Michael Bay had to say in a brief statement.
"I'm proud and honored by how Transformers has been embraced by Chinese audiences. I look forward to working with China Movie Channel and Jiaflix Enterprises to help reach more people here and deepen their passion for this ongoing story and its characters."
Yan Xiaoming, chairman of China Movie Channel, also released the following statement.
"China Movie Channel and our official movie web site M1905.com have been long term trusted partners with Jiaflix. We have been working together in the field of importing Hollywood movies for Chinese television and internet, including Paramount movies, as well as introducing Chinese movies to the North American market and are very delighted with the results we have accomplished together. This is the beginning of a new era of collaboration with the Hollywood studios. We are very confident that the China Movie Channel/Jiaflix cooperation with Paramount will result in the famous Transformers brand being an even bigger success."
Here's what Sid Ganis, Chairman of Jiaflix, said in his own statement.
"Paramount was the first major studio to officially join with us for the distribution of its films over the Jiaflix platform in China, so we are delighted to join our partners at China Movie Channel together with Paramount on this groundbreaking initiative. Transformers 4 are paving the way."
Jiaflix has recently entered into a long term agreement with Paramount, under which Paramount will supply more than 250 films a year to the new video streaming partnership between Jiaflix and M1905.com, a unit of China Movie Channel.
Paramount vice chairman Rob Moore also chimed in with his own statement regarding the news.
"We are excited by and grateful for the opportunity to work with China Movie Channel and Jiaflix Enterprises on the production and promotion of Transformers 4. We see this relationship as a reflection of the global power and appeal of both this unique franchise and Michael Bay's talents as a filmmaker."