Chinese news portal and leading game company NetEase is trying to spin-off more of its entertainment and video game franchises. NetEase announced the launch of NetEase Pictures, its movie production subsidiary, last Friday.
Along with the launch, NetEase announced three strategic projects for the new company. NetEase will collaborate with various production companies to adapt its popular games Fantasy Westward Journey and Tianxia into television series and movies. Other adaptations are scheduled for launch soon after.
Prior to the establishment of NetEase Pictures, many other Chinese tech giants founded their own production companies in 2015. Alibaba renamed its film branch Alibaba Pictures Group. Tencent launched two production companies Tencent Pictures and Penguin Pictures to integrate its game, video and online properties.
NetEase’s new investment in the production sector may trigger another round of fierce competition in the field of online video and film distribution in China.