China’s Wanda Cinema has come on board as co-financier of Paramount’s “Teenage Mutant Ninja Turtles: Out of the Shadows.”
The move is the first time that Wanda has come aboard as a worldwide investor of a Hollywood movie. The company said that it represented “a strategic step in its global plans.”
The finance is coming through Wanda’s Movie Media Group subsidiary, previously considered predominantly a marketing company. Wanda said, however, that “it will act as an important agent to spearhead Wanda Cinema Line’s investment into Hollywood.”
CMM Films has previously worked with Paramount, following its previous releationships on “Teenage Mutant Ninja Turtles,” “Interstellar” “Terminator Genisys,” and “Mission: Impossible Rogue Nation.”
It also worked on local marketing campaigns in China for “Transformers: Age of Extinction” and “Terminator Genisys.”
Wanda noted that both pictures enjoyed greater revenues in China than in North America, with the score for “Age of Extinction” reaching US$303 million at current rates of exchange or RMB1.97 billion, and topped the Chinese box office in 2014.