Tue, Feb 13, 2018 - Page 12 News List

Kingshine to establish Taiwanese subsidiary

By Ted Chen  /  Staff reporter

Kingshine Entertainment Inc (鑫盛傳媒), which develops and markets intellectual property for the online video-streaming market in China, yesterday took steps to diversify its business.

The company said that its board of directors on Friday last week approved plans to establish a local subsidiary in a bid to expand its presence in and sales contribution from Taiwan.

The company gave an optimistic outlook on box office results over the Lunar New Year holiday, as Gatao 2 (角頭2) — a sequel to a 2015 Taiwanese gangster movie — premieres tomorrow.

It is also developing three or four new projects that cater to young people on both sides of the Taiwan Strait who prefer content on mobile devices, it said.

Aggregate sales last year surged 128 percent annually to NT$240 million (US$8.16 million), Kingshine said, adding that NT$134 million in sales were booked in the final month of last year, as ongoing negotiations on script sales, licensing agreements, advertising and sponsorships bore fruit.

To curb the wild swings in its revenue streams, the company said it would diversify its business to include Web-based drama series, full-length feature films and variety shows.

Seperately, Bossdom Digiinnovation Co Ltd (百聿數碼), which provides content production services for major platforms, including Google Play, iTunes and Netflix, reported that its sales last month surged 192.58 percent annually to NT$13.37 million.

Aggregate sales last year rose 42.36 percent to NT$176.48 million, company data showed.

The company said that it is also planning to tap into the Chinese market this year and is seeking partnerships with Chinese over-the-top platforms.

The firm is also optimistic about the Lunar New Year holiday, as it is adding several recent local hits, including the Golden Horse Award-winning black comedy The Great Buddha+ (大佛) and a localized version of My Little Pony: The Movie to iTunes’ streaming service.

Since gaining Apple Inc’s “preferred partner” status in November last year, the company is expected to add at least 100 feature films to the US giant’s content platform each quarter, Bossdom Digiinnovation said.

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