MUBI, Graceful eye VOD market in China


Details

Rebecca Hawkes

| 26 January 2016




International art house streaming service MUBI plans to expand into mainland China before November through a proposed joint venture with Graceful, a subsidiary of Hong Kong’s Huanxi Media Group.



For US$40 million, Graceful will take a 70% stake in the venture, and MUBI will contribute its intellectual property in exchange for the remaining equity. Graceful will also make a US$10 million investment in MUBI for 8% of MUBI’s share, according to the South China Morning Post.

Dong Ping, chairman of Huanxi Media Group, told the newspaper the proposed joint venture between Graceful and MUBI will partner with a third-party holder of an online streaming licence in China to speed up its entrance to the mainland’s video-on-demand (VOD) market.

To stop falling foul of the censors, Dong said about two-thirds of MUBI’s streaming movie offerings in mainland China will comprise Chinese films.