Endemol has inked a long-term agreement with Shanghai Media Group to jointly create, develop and exploit original content for the Chinese and international markets.
The agreement pairs Endemol Asia with Entertainment Team Media Group, a subsidiary of SMG, to establish a joint creative team that will be responsible for developing new intellectual property.
Endemol will have exclusive distribution and format rights outside of China for new properties developed by the partnership, and SMG will hold those rights in China.
The companies will also work together in localizing formats from Endemol’s global portfolio and adapting them for the Chinese market.
SMG is China’s second largest broadcaster with 15 free TV channels, 35 digital pay TV channels, 11 radio frequencies, 8 newspapers and magazines, IPTV, video portal, connect TV and mobile phone TV.
“Endemol’s exceptional track record and expertise in creating ideas that work in any territory makes them an ideal partner for SMG and ET," says Yang Wenhong, vice president of SMG and chief executive officer of ET. "This long term strategic partnership will play an important role as we look to expand our operations and creative output, both nationally and internationally.”
“Our partnership with SMG represents a significant step forward in our growth strategy in Asia," says Arjen van Mierlo, chief executive officer of Asian Operations at Endemol. "China holds extraordinary opportunities for creative companies like Endemol and this alliance with one of the country’s leading broadcasters positions us strongly in this rapidly growing market.”