MUMBAI: FremantleMedia has inked an exclusive joint venture deal with Shanghai Media Group’s (SMG) BesTV and China Media Capital (CMC). Under the JV, the companies will create and develop entertainment formats for the China market, set to reach millions of viewers on Dragon TV and BesTV platforms, and take proprietary China content to the world market through FremantleMedia’s global distribution network.
Based in Shanghai, the bespoke development team will include international experts and local producers and will draw on FremantleMedia’s creative strength to develop original entertainment IP. Outside of mainland China, FremantleMedia International will represent the newly-created IP through its worldwide distribution network.
FremantleMedia global CEO Cecile Frot-Coutaz said, “The Chinese television market is rapidly becoming one of the most important in the world. This new relationship with BesTV, SMG and CMC allows FremantleMedia to build on its existing presence in China and strengthen our ties in this territory. It brings with it the opportunity for FremantleMedia to showcase its world-renowned creativity to millions of new viewers, with content that is made specifically for them.”
CMC founding chairman Ruigang Li added, “China’s TV sector is undergoing the most exciting transformation, and the value of premium content is being created and manifested with unprecedented enthusiasm. CMC is delighted to team up with SMG and FremantleMedia, a global leader in entertainment content, to bring together the profound understanding of the market, the established creative capacity and the strength of a global network to further shape the China TV landscape and take more of China’s original content to the world market.”
SMG president Madame Wang Jianjun said, “We envision BesTV to be a new media conglomerate after the restructuring and China’s foremost OTT service provider. It will build a new media eco-system in which BesTV straddles over content production, distribution channels, and products and services. As format and idea development is a key part in content production, the joint venture will undoubtedly bring the best resources from all the companies together and gives a strong boost to BesTV. The collaboration will give SMG the wonderful opportunity to learn how to create good ideas and how to grow these ideas into formats and productions. It will greatly enhance SMG’s production capacity and help SMG make phenomenal variety shows in the future.”
FremantleMedia Asia Pacific CEO Ian Hogg added, “This is a ground breaking deal, not only for Best TV, SMG, CMC, and FremantleMedia, but for Chinese audiences. The opportunity to create and execute story telling that focuses on Chinese values and tastes blended with western structure and creativity is a very powerful combination.”
FremantleMedia has already forged strong relationships with a number of China’s broadcasters and has licensed around 20 titles, including Got Talent, Idols, The X Factor, Don’t Stop Me Now, Take Me Out Hole in the Wall and Family Feud.
