Le Vision Pictures

Le Vision Pictures
乐视影业
Public
Traded as SZSE: 300104
Industry Film Production, Entertainment
Founded 2011
Founder Zhang Zhao (张昭)
Headquarters Beijing, China
Number of locations
 4
Area served
 China
Key people
 Zhang Zhao (Chairman & CEO)
Products Movies, Television Shows, Web Series
Parent LeEco[1]

Le Vision Pictures (Levp), a subsidiary of LeEco, is one of the largest film production and distribution companies in China. Founded in 2011, Le Vision Pictures has headquarters in Beijing and offices in Hong Kong and Los Angeles, U.S.. It has produced and distributed several hits, including The Bullet Vanishes, The Expendables franchise and the Tiny Times franchise. More recently, Le Vision has signed Zhang Yimou, Lu Chuan, Tsui Hark and Guo Jingming, whose names are among China’s most influential contemporary filmmakers. In 2014, the company was the sixth-largest film distributor in China, with 4.1% of the market.[2]

History

In 2011, former president of Enlight Pictures, Zhang Zhao, founded Le Vision Pictures. He currently serves as Chairman & CEO of the new company.

Le Vision produced and distributed six films in 2012. The Bullet Vanishes was nominated for four Golden Horse Awards (Taiwan), including “Best Picture”, and thirteen Hong Kong Film Awards. The Expendables 2, in which Le Vision co-invested and also co-distributed in China, grossed over $57 million in China, accounting for 18.5% of its total global box office revenue.

In 2013, Le Vision released nine films, grossing a total of $170 million. This included the popular film, Love Will Tear Us Apart, as well as the box office success, Tiny Times & Tiny Times 2. Tiny Times took in $78.9 million at the box office that summer, setting a new record in China for a 2-D film opening. With these numbers, Le Vision became one of China’s top 3 private film companies.

In May 2013, China’s most renowned filmmaker, Zhang Yimou, joined Le Vision as a contracted movie director and Creative Director. In August of that year, Le Vision raised RMB 200MM in its first round of financing, valuing it at RMB 1.5 billion.

On March 13, 2014, Le Vision held the Levp Summit, at which CEO Zhang Zhao announced that Le Vision would transform itself from a film production and distribution company into an Internet company, primarily focused on promoting cinema. At this time, Le Vision also announced that director Lu Chuan was joining Le Vision.

In September 2014, Le Vision announced a second round of financing of RMB 340MM, at which time the company’s value soared to RMB 4.8 billion.

During 2014, Le Vision released 13 films, grossing nearly $390 million in box office revenue—a 130% growth compared to 2013. Boonie Bears: To the Rescue set a new box office record for a domestic animation film. Zhang Yimou’s Coming Home was selected for the “Special Feature” section at the Cannes Film Festival and made nearly $48.4 million—breaking the existing record for arthouse films. It is considered a unique film for both its commercial and artistic success.

Also in 2014, Le Vision began exploring overseas markets more seriously, establishing its Korean and US branches. As part of its long-term global strategy, Le Vision has begun collaborating with Hollywood studios over both co-production and global distribution of films.

In early 2015, Zhang Yimou began shooting The Great Wall, his English language debut. This $150 million co-production with Legendary East, Atlas Entertainment and Universal Pictures will premier in 2016.

O2O Marketing

During its first two years, Le Vision has launched its “O2O Marketing System”, a business model structured to connect with consumers across new and established on-line/off-line platforms—providing them with a next generation movie-going experience. Le Vision is also known for its widespread field marketing and distribution network in China, which covers 108 cities, 1,200 theaters, and 85% of the market share.

Multiple Platforms

LeEco, the parent company of Le Vision, is the biggest Internet VOD platform in China. Anticipating the rise of home theater viewership in China, LeEco (known then as Letv Group) launched two leading products in VOD streaming, C1S and Super TV.

In April 2015, LeEco (known then as Letv) launched its own smartphone. It is but one feature of the company’s “six screens, one cloud” strategy that aims to create a vertically integrated experience for users of mobile phones, tablets, computers and televisions—as well as movie theater audiences and even automobile passengers and drivers.

Productions

References

  1. ↑ Clifford Coonan (May 28, 2015). "China's LeTV Plans to Raise $1.2B to Bankroll New Projects". hollywoodreporter.com. Retrieved May 28, 2015.
  2. ↑ "China Film Industry Report 2014-2015 (In Brief)" (PDF). english.entgroup.cn. EntGroup Inc. Retrieved October 15, 2015.

External Links


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