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maoyan.com

Founded Year

2017

Stage

PIPE | IPO

Total Raised

$150.61M

Market Cap

7.87B

About Maoyan Entertainment

Maoyan Entertainment (HKG: 1896) is a Chinese online ticketing platform, formed from the 2017 merger between Maoyan and Weiying. The company offers online entertainment ticketing services, entertainment content services, e-commerce services, advertising services and others.

Maoyan Entertainment Headquarter Location

Beijing, Beijing,

China

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Latest Maoyan Entertainment News

Uncharmed: why Chinese film fans are shunning Hollywood

Feb 27, 2022

Even the worldwide smash Encanto failed to satisfy millions of cinemagoers who now demand homemade fare Matt William Knowles visiting China before the pandemic. Photograph: Matt William Knowles Sun 27 Feb 2022 01.15 EST Matt William Knowles, a 36-year-old Hollywood actor, has been packing for a forthcoming trip to China in the past week. He’s looking forward to his first China visit since the pandemic. “The last time I was in China was late 2019 when I served as the honorary mayor for a village in southern China.” While his career in Hollywood continues to blossom, finding work in China hasn’t been easy these past few years for Knowles. The pandemic changed the film industry, and the deteriorating diplomatic relations between America and China sandwiched individuals like him who straddle both nations. For a period of time in 2019, amid a souring trade war between the two countries, Chinese studios put an informal ban on American actors. “China is now all about protecting Chinese interests. It’s China First,” he told the Observer, jokingly referencing former president Donald Trump’s favourite political mantra “America First”. “They put Chinese interests first and Chinese people first. But what they don’t have is the films that can appeal to the whole world.” For many years before the South Carolina native returned home, Knowles was an unlikely rising star in China. The former American football player has a matinee-star look that, together with his impeccable Mandarin skills after years of living in Beijing, have won him millions of fans. In America, he was known as “the Chris Hemsworth of China”. When Knowles first arrived in China as a volunteer in the summer of 2009, Hollywood movies were ubiquitous – but mostly in the form of pirated DVDs. In fact, Hollywood films were one of the earliest imports from the west after the post-Mao economic reforms in the late 1970s. Beijing has always understood the power of Hollywood in shaping its citizens’ minds. As a result, protectionist measures such as quotas and restrictions on the screening periods of Hollywood films in China, have led to the rapid growth of domestic films in the last two decades or so, said Dr How Wee Ng, lecturer in Chinese studies at the University of Westminster. “Increased living standards, national confidence, patriotic education alongside a growing demand for self-representation as resistance to western takes on Chinese culture such as Kung Fu Panda and Mulan have been crucial to the building of Chinese audiences and taste for domestic films,” Ng said. A still from Kung Fu Panda, a very western take on Chinese culture. Photograph: Dreamworks/Sportsphoto/Allstar The attitude shift became more evident in 2017, when Knowles left China after years living and working there. That October, China’s president, Xi Jinping, declared : “It is time for us to take centre stage in the world and to make a greater contribution to humankind,” and that China was “standing tall and firm in the east”. Around the same time as that speech made international headlines, a slickly made nationalistic blockbuster called Wolf Warrior 2 made $870m at the box office. The plot of the film – where a selfless heroic Chinese soldier defended African workers and defeated an American aggressor – also coincided with the sharp rise of nationalism in China. So much so that the phrase “wolf warrior” has become the phrase synonymous with Beijing’s confrontational style of diplomacy. Beijing allows 34 foreign films to be imported every year. Yet, over the last decade, the share of non-Chinese films – Hollywood ones included – in box office sales has seen a downward trend, particularly since 2017, according to ticketing platform Maoyan Entertainment. Among the top 10 most profitable films on Maoyan in 2021, only two films, F9: The Fast Saga and Godzilla vs. Kong were non-Chinese. A decade ago, it was six. In the last few years, as China’s diplomatic relations with the west – and in particular the US – plummeted, the preferences of Chinese audiences changed, too. And this “has had a huge impact on Hollywood”, said Erich Schwartzel, author of Red Carpet: Hollywood, China, and the Global Battle for Cultural Supremacy . Schwartzel said that Chinese movie-goers are gradually walking away from Hollywood films. “Several years ago, just being a big-budget Hollywood movie might be enough in the Chinese market, but now you don’t just need good production but also a story that appeals to more discerning Chinese audiences.” This explains why Disney’s recent animated movie Encanto disappointed many Chinese observers, with a modest box office take of $3.7m in China, the world’s largest billion-dollar movie market. Globally, Encanto took $240m. Critics pointed out that the storyline did not resonate with a local Chinese audience. Encanto took only £3.7m at the Chinese box office. Photograph: TCD/Prod.DB/Alamy The improvement in domestic film-making did not come as a coincidence, Schwartzel noted, but as a result of a decade-long effort. In 2008, the success of Hollywood blockbuster Kung Fu Panda shocked China’s ruling Communist party. It sparked soul-searching among Chinese political elites and film producers. “They asked themselves: how could a quintessential Chinese film achieve such a success with American Hollywood?” The turning point was marked by Beijing’s homemade sci-fi movie, Wandering Earth in 2019 . The $50m-budget film grossed nearly $700m worldwide. US magazine Hollywood Reporter called it: “China’s first full-scale interstellar spectacular”. Netflix came knocking on the door for global streaming rights. “It tells you that Beijing’s ambition to commercialise and develop its domestic film industry is working,” said Schwartzel. “Chinese audiences are more and more turning to domestic cultural products – reflecting also Beijing’s desire to turn Chinese people to look inward [in recent years].”

Maoyan Entertainment Web Traffic

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Maoyan Entertainment Rank

  • When was Maoyan Entertainment founded?

    Maoyan Entertainment was founded in 2017.

  • Where is Maoyan Entertainment's headquarters?

    Maoyan Entertainment's headquarters is located at Beijing.

  • What is Maoyan Entertainment's latest funding round?

    Maoyan Entertainment's latest funding round is PIPE.

  • How much did Maoyan Entertainment raise?

    Maoyan Entertainment raised a total of $150.61M.

  • Who are the investors of Maoyan Entertainment?

    Investors of Maoyan Entertainment include FountainVest Partners, Tencent Holdings and Enlight Media Group.

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