Formats production and distribution giant Endemol has cut a deal with the Shanghai Media Group (SMG) and the pair will jointly develop content for the Chinese market. Endemol will then distribute the resulting programming and formats internationally while SMG, a broadcaster and media group, will exploit the properties in China.
Specifically, Endemol will team with Entertainment Team Media, a wholly-owned SMG subsidiary focused on TV, film and advertising that the Chinese company launched in April.
Endemol said that, under the terms of the partnership, its formats will be developed for the Chinese market as well as new properties being created by a joint development team.
Yang Wenhong, vice president of SMG and CEO of ET said: “This long term strategic partnership will play an important role as we look to expand our operations and creative output, both nationally and internationally.”
Arjen van Mierlo, CEO of Asian operations at Endemol said: “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.”