DreamWorks Animation Opening New Shanghai Studio
DreamWorks Animation is partnering with Shanghai Media Group and China Media Capital to build a studio facility in Shanghai, says the The Hollywood Reporter, citing The Financial Times.
The joint-venture with the two state-owned companies will develop film, TV and stage productions for the Chinese market. The deal is sufficiently high-scale that Chinese vice president Xi Jinping is expected to help announce it during a visit to Los Angeles.
The news comes the same day as a government report that Chinese domestic animation has risen 18% in the last year, according to Variety. Currently, Chinese productions account for 27% of animated content in the country.