Wanda Studios Qingdao Makes European Debut In Cannes

CANNES, France, May 21, 2015 /PRNewswire/ -- Cannes is known for playing host to the biggest stars, the biggest filmmakers and the biggest movies in the world. It can now add the biggest studio in China to its list of marquee attendees as Wanda Studios Qingdao (WSQ), a subsidiary of the Wanda Group, makes its much anticipated debut in Europe with its official presence in Cannes at the Marche du Film (Cannes Market).

Held in conjunction with the Cannes Film Festival, the Cannes Market is widely recognized as the most prominent film marketplace in the world, attracting over 10,000 participants from over 100 countries who use the platform to debut and discover over 5,000 films and projects. Cannes participants have a chance to connect in person with WSQ's executive team to engage in collaborative business discussions ahead of the studios opening in 2017.

With all industry eyes focused intently on China and the spectacular, well-documented growth opportunities that exist in the country, Wanda Studios Qingdao draws significant attention in Cannes as one of the few entities capable of deepening involvements in China, with offerings that go well beyond 'traditional' studio capabilities. To this point, something that the industry is exposed to in Cannes for the first time are the quality and variety of service elements that the Wanda Group as a whole, can offer.

In addition to providing world class facilities and highly competitive incentive programs, WSQ can leverage the proprietary services and business assets with the Wanda Group, making WSQ a very unique, and valuable, one-stop-shop, the likes of which has never existed before in China.

An illustration of the WSQ prowess can be demonstrated in the studio's ability to easily cross-collaborate with other businesses within the Wanda brand, such as Wanda Pictures (production company) and Wuzhou Distribution Company (a joint venture between Wanda and major theater operators), as well as Wanda Hotels, Wanda Shopping Malls and many service sector businesses located within the burgeoning Qingdao Oriental Movie Metropolis. Collectively, these rare elements make WSQ very competitive and compelling to filmmakers throughout the world.

The attributes that make Wanda Studios Qingdao a groundbreaking, first-of-its-kind studio and landmark cultural attraction are numerous. WSQ will stand as China's largest film and television studio spread across 165 hectares, or 408 acres. Upon completion, the development will house thirty purpose built sound stages, China's most advanced temperature-controlled underwater stage, the country's largest exterior water tank, a combination of natural scenery and custom-built locations, in addition to world-class facilities for post-production that will deliver the most advanced working environment. Such state-of-art facilities will allow WSQ to serve both the Chinese and international markets as a world class production base with offerings spanning the entire film and television industry. The first phase of the studio is scheduled to open in September, 2017.

In addition to providing the highest quality production environment, a dynamic and groundbreaking incentive program will be introduced which will provide significant financial support to qualifying projects from Chinese and international production companies.

"When it comes to doing business on a global scale, Cannes, with its galvanizing spirit and aptitude for attracting the most influential leaders across all sectors of the movie industry, is a market that will be a mainstay for Wanda Studios Qingdao going forward," says WSQ Chief Operating Officer, Nancy Romano. "Being in Cannes allows us to open new dialogues with potential partners around the globe and serves as a tremendous platform from which we can keep the industry informed on the exciting developments associated with our studio -- from the first-of-its-kind physical production capabilities and advancements, down to the new incentive programs that will be in place. We're looking forward to building many new relationships."

SOURCE Dalian Wanda Group