“Kung Fu Panda” and “Kung Fu Panda 2” were such huge performers in China that “Kung Fu Panda 3” will be simultaneously released in China and the US next January. Read On!
Dreamworks was so delighted by the Kung Fu Panda Franchise’s performance in China that the studio declared to the press in Beijing that the third movie in the series will be released simultaneously in the US and Chinese markets next year.
The film will be the first major Chinese and American co-operation. Dreamworks is making the film in collaboration with their Chinese partners Oriental Dreamworks. The new Chinese studio was launched in Shanghai in 2012 with an overall investment of 330 million dollars.
It is a great accomplishment for a US company to make a motion picture with a Chinese partner, as China allows only 34 foreign movies to run in its theaters every year. What is even more striking is the fact that Dreamworks will be able to command a 40 to 45 percent share in the revenue earned as it is a collaboration with a Chinese partner.
Hollywood producers are usually expected to earn 25 percent from their movies in China. It looks like the Chinese Bureaucracy is becoming more lenient in tis approach towards Hollywood specifically and Western film industries in general.
“Kung Fu Panda 3” is already creating a buzz in the Chinese and international markets. With an all star cast, which includes super stars like Angelina Jolie, Jackie Chan and Oscar winner J.K. Simmons, the film is all set to get good initial attention at the box office.
Whether the third film lives up to its name remains to be seen, but the film is guaranteed to pull in crowds at least in the first few weeks after its release. We will also be looking forward to it, especially for Kate Hudson’s character, Mei Mei.
The Hollywood Reporter reported the news first.
Photo Source: Facebook/ Kung Fu Panda 3