Baidu Using Crowd Sourced Funds to Create Chinese Gone With the Wind

Kipp Whittaker | Sep 24, 2014 3:00 pm | Add a comment | 1050 reads

TechInAsia reported that Baidu has just launched a personal investment fund that lets users collectively bankroll potential movies and television shows. The all encompassing web services company has partnered with Taiwan based Central Pictures Corporation, Citic Bank, and Beijing based DeHeng Law Offices to jointly issue the fund. Users can invest with as little as RMB 10, along with a promise of an eight percent interest rate and returns reaching as high as 16 percent.

So far one film, Golden Age, has already reached it's funding goal. Within a couple of hours, this Chinese adaptation of Gone With the Wind raised RMB 18 million, from 3,300 supporters, 20 percent percent over their target amount.

Many internet giants like Baidu and Alibaba are expanding into the film and television production markets in order to create new content that competes with imported films and TV series. In the coming year, all imported content will face regulations on internet streaming platforms in order to promote the growth of domestic programming.

Photo: TechInAsia