Baidu Nuomi Forms RMB 2 Bln Film Content Investment Fund

Sohu IT, 6/16/16

Chinese internet company Baidu's (Nasdaq: BIDU) group buy site Nuomi.com has announced that it is setting up a RMB 2 bln film and television investment fund to finance high-quality movies, unearth new talent, increase its reach, and help it better compete for more resources.

Nuomi.com's film division will take advantage of Baidu's platforms, financial clout and technology to support the development and production of promising movie projects. Over the next two years it will look to build up a large portfolio of intellectual property including animated movies, thrillers and youth-oriented content, investing in at least 30 projects in the hope of generating combine box office revenues of over RMB 10 bln.

Nuomi.com also announced plans to establish an equity fund to invest in copyright and film production companies and to launch Fensiquan, a fan-oriented media business.

Keywords: funding film Internet television Baidu BIDU Nuomi film production content Fensiquan

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