The Shanghai Film Group and Studio Babelsberg have agreed upon a Memorandum of Understanding for a strategic alliance. Ren Zhonglun, President of Shanghai Film Group Co. Ltd., Wang Xiaojun, Vice President of Shanghai Film Group Co. Ltd., Charlie Woebcken, CEO of Studio Babelsberg AG and Christoph Fisser, COO of Studio Babelsberg AG, announced the joint cooperation during the Shanghai Film Festival and signed a corresponding Memorandum of Understanding at a special ceremony.
The partnership's goal is to pool Chinese and European resources and make the international cooperation more professional.
The cooperation is focused on the following:
- Modernisation of the Shanghai Film Group's film studio complex in China
- Development of a joint production services infrastructure on an international level
- Transfer of know-how and training of skilled workers
- Development of international business activities and collaboration on co-productions
As a strategic partner, Studio Babelsberg will contribute its expertise of running a studio and producing international feature films and TV series.
Charlie Woebcken, CEO of Studio Babelsberg AG, comments: “We see a great chance for Studio Babelsberg to embark on international expansion in China. We had already been having talks with the Shanghai Film Group for some time and spoke with many potential partners in China. The Shanghai Film Group is the ideal partner for a partnership. The Shanghai Film Group and Studio Babelsberg have a great tradition and many successful references. We want to work together on establishing a joint "Production Service" unit in Shanghai, which will be able to realise major international film projects in China according to international standards. In addition, we are looking at international co-productions where a fruitful exchange of know-how can exist on both sides.“
The Shanghai Film Group Co. Ltd is one of the largest film production companies in China with a market share of over 7%, having responsibility for over 1,800 cinema screens and gathering numerous companies under one roof, including the Shanghai Film Studios which are one of the nation's longest established film studios. Its core business is in the development, production and exploitation of film and TV formats.
