Shanghai, China - JSC Gazprom media, the leading diversified media holding in Russia and Eastern Europe, and Shanghai media group one of the largest media and entertainment companies in China, signed a memorandum on strategic cooperation in development and distribution of movies, TV and digital content.
The main areas of cooperation between two media holdings are: co-production of films and TV shows, exchange of stock of content, cooperation in the acquisition of formats, and content distribution.
"Negotiations have focused on the TV serials, documentaries, full-length feature and animated films. We have already formed an offer of 300 feature films for the first phase of cooperation with Shanghai media group. China is preparing their part of proposal. Today Gazprom media produces projects of high quality and formats which are understandable and interesting to any viewer. Therefore, among the priority areas in the future, we also see a joint production of films and TV serials. The experience of integration of Chinese and Russian actors in these projects may be very interesting, "- said General Director of JSC Gazprom media holding Dmitry Chernyshenko.
The leaders of Gazprom-Media and Shanghai Media Group discussed, among other topics, the possibility of cooperation in the area of sports media on the eve of the 2016 Olympics and the Winter Olympics in Beijing in 2022.
"The partnership of the two largest media companies will strengthen the cultural interrelations between Russia and China and expand the idea of the unique traditions of the two countries", - said Dmitry Chernyshenko.
Shanghai Media Group or SMG is one of China’s largest media and cultural conglomerates. It boasts the most complete portfolio of media and related businesses in China with the highest market value. Its businesses scope spans operations of traditional radio and TV networks, newspapers and magazines, drama and film production and distribution, OTT and streaming, IPTV, online and console gaming, digital advertising, home shopping and e-commerce, live entertainment and tourism, etc.
For Gazprom media this is not the first step on the Chinese media market. In October 2015, the film company Central Partnership, that forms part of Gazprom-Media Holding, signed an agreement on cooperation with China's largest film distribution company China Film Group. According to the agreement Central Partnership will provide Russian films for distribution in China, and China Film Group will supply Chinese films for distribution in Russia.
January 21, 2016 Gazprom media and the company People’s Daily Online, which manages the information portal of the largest newspaper People's Daily in China, with the participation of the Ministry of Communications and Mass Communications of the Russian Federation, signed an agreement on cooperation in the area of exchange of news, documentaries and archival content, as well as cooperative activities in the production and distribution of movies, television and digital content.