Disney To Co-Produce 'Iron Man 3' With Chinese Partner and Story: [ send to a friend ]
Walt Disney Co. has announced that it will co-produce its next 'Iron Man' film with Chinese partner DMG Entertainment.
Not only that but the studio says that the film will also shoot in China and include elements from its culture to forge closer ties with China's fast-growing film industry.
"We know Chinese audiences love Iron Man. So we are going to add Chinese elements and a Chinese story into Iron Man 3," says Disney's general manager for Greater China, Stanley Cheung.
"We look forward to working alongside DMG to bring Iron Man to the Chinese marketplace in a significant way," adds Rob Steffens, general manager of Operations and Finance for Marvel Studios.
"We are confident that Marvel's stories will continue to be enjoyed by Chinese audiences, and adding a local flavor, and working with our new local partner, will enhance the appeal and relevance of our characters in China's fast-growing film marketplace."
The move comes as China's ticket sales rose by one-third last year to upwards of $2 billion.
But perhaps most importantly for Disney and Marvel, the partnership with DMG, which has close ties with the state run film group, means they will be able to work around the country's film quota which allows 20 foreign films per year for national distribution.
"This cooperation will be very important to both countries," says DMG's CEO. "This film will be shot together with Chinese partners."