China Film Group and Hollywood-based Crest Digital have formed a joint venture partnership that will deliver a full range of home entertainment and technology software content via multiple digital platforms to mainland China consumers.
The partnership combines the capabilities of China's most influential entertainment and media conglomerates with one of Hollywood's premier media services and optical technology companies. For entertainment and technology content owners, this joint venture provides a secured critical distribution and pre-recorded DVD/CD manufacturing solution in China's highly regulated domestic entertainment and media industry. The partnership will also focus on developing emerging digital content delivery technologies for its clients, including VOD, IPTV, Internet and mobile.
"This partnership exists because of the unique synergy, shared objectives, trust and respect that enabled a relationship to develop between Crest Digital and China Film Group," says Ron Stein, president of Crest Digital. "For Crest Digital, it provides us with the optimum partner and solution in China for our domestic entertainment and technology customers."
The two companies will collaborate on a broad spectrum of digital media ventures in China including the creation of a new state-of-the-art DVD and CD manufacturing facility, scheduled to open outside Beijing in the winter of 2007. With an initial land space of more than 800 acres, the complex will be the largest entertainment and studio facility in Asia. The
world-class facility will be 15,000 square meters and will house 40 standard definition and high definition DVD replication lines and employ 500 people. China Film Group will also facilitate government approval for additional optical manufacturing licenses targeted for new regions, including South China.
The Beijing manufacturing facility is only the first of several joint ventures planned between the two companies. Over the course of the next six to 12 months, the companies intend to announce additional ventures including one focused on CD & DVD anti-counterfeiting technology.
