/PRNewswire/ -- Wanda Cinema Line Co., Ltd (Wanda Cinemas) has announced its plans to wholly purchase Mtime.com, China’s most influential online media outlet and e-commerce service platform for films. The move marks the significant transition of Wanda Cinemas from a traditional cinema operator to an Internet-ready company that integrates its online platform and technology.
According to the announcement, Wanda Cinemas will partner with Mtime.com to initiate an all-round integration of their resources and businesses. A new platform that combines offline and online resources will be forged by the pair to seek integrated marketing solutions targeted at some 100 million users.
The new partnership will also explore the film merchandise market, and seek for innovative online distribution models and other new businesses that appeal to users’ tastes and experience. Mtime.com has the second largest film database in the world, as well as solid connections from a network of global film companies. In the future, with its premium intellectual properties (IP) strategy, Wanda Cinemas will create one-stop marketing solutions for film producers and other related companies.
Mtime.com has also gained merchandise rights from Disney, Marvel Studios, DC, Universal Studios and many others in recent years and the company has a lot of experience in merchandise product design and online sales.
Wanda Cinemas is home to a wide range of valuable IP resources from Legendary Entertainment and Wanda Pictures. The joint effort from the two will build a new landscape in China’s booming merchandise market.
The acquisition marks a further step for Wanda Cinema’s “ecological movie-going platform” project, in which various film-related consumption options are created for Wanda members. Under the acquisition, Mtime.com will maintain its independent brand and operations and Mr. Kelvin Hou Kai will continue as CEO.
“The resources owned by Wanda Cinemas and Mtime.com can well complement each other,” said Mr. John Zeng, President of Wanda Cinemas. “Wanda Cinemas is China’s largest theater operator with over 60 million members and numerous film IP from China and abroad. The online resources and technologies Mtime.com has can help Wanda further activate the potential and power of the ‘ecological movie-going platform’.”
Mr. Kelvin Hou, CEO of Mtime.com, added, “Wanda Cinema’s huge platform and abundant resources will help Mtime.com grow faster and at the same time provide more helpful, easier-to-use services for film lovers.”
With over 10 years’ experience in the film industry, Wanda Cinemas has more than 60 million high-quality members and a wealth of market insight, while Mtime.com also has a large number of loyal users as a result of providing film information and ticket booking services for years. These followers choose Mtime.com for the quality of information and the vibe of community, not cheap tickets, and they form the backbone of the combined offline and online platform that will create more added value surprises for China’s film and Internet industry.