One of the most legendary film production companies in all of Asia, Golden Harvest, has recently announced that it will return to film production and distribution due to a recently huge cash infusion. The infusion came by way of the January sale by parent Orange Sky Golden Harvest (OSGH) of their entire cinema complexes to one of China’s leading theater companies.
Nan Hai, China’s second leading theater chain, purchased the OSGH theaters for $575 million of which Golden Harvest will see $463 million of it for new film production and distribution. Some of the investment money from the sale will be poured into production and distribution as well as maintenance on existing cinemas and some foreign investment in overseas theater chains.
OSGH looks to expand film production in, not only Hong Kong, but all over mainland China itself. It looks to do several remakes of many of its most successful films in its large and historic catalog. It also looks to expand into new films as well as both augmented reality and virtual reality ventures.
In the early part of the 1990’s, Golden Harvest sold off most of its library that featured films starring Golden Harvest legends like Bruce Lee, Michelle Yeoh, Jackie Chan and Jet Li. One particular project being done now is based on founder Peter Chow’s work and will be produced into a 20 part series by a Korean film company. Right now, Golden Harvest has about 135 titles left in their catalog of which eight have been planned for remakes. In addition, they have a handful of unproduced scripts from which they hope to draw to produce new feature length films.
For the last several years, production at Golden Harvest has been minimal but OSGH looks to revitalize production. The Chinese film industry has been pummeled of late as box office receipts from last year were less that stellar. Also, OSGH stated that they believed its unhealthy bottom line in the theater business was mostly due to scale.
- NAB Show Will Offer Special Session Taking A Look The Development Of “Games Of Thrones” - April 14, 2017
- GLOOKAST Innovation Continues To Solve The Challenges Of Today’s Broadcast And Media Productions - April 12, 2017
- Samsung Displays Screen Technology At CinemaCon That Could Make Film Projectors Obsolete - March 30, 2017
