Le Vision Pictures

Le Vision Pictures (Levp), a subsidiary of LeEco, is a production and distribution company in China. Founded in 2011, Le Vision Pictures has headquarters in Beijing and offices in Hong Kong and Los Angeles, U.S.. It has produced and distributed several hits, including The Bullet Vanishes, The Expendables franchise and the Tiny Times franchise. More recently, Le Vision has signed Zhang Yimou, Lu Chuan, Tsui Hark and Guo Jingming. In 2014, the company was the sixth-largest film distributor in China, with 4.1% of the market.[2]

Le Vision Pictures
乐视影业
TypePrivate
IndustryFilm Production, Entertainment
Founded2011
FounderZhang Zhao
Headquarters
Beijing
,
China
Number of locations
4
Area served
China
Key people
Zhang Zhao (Chairman & CEO)
ProductsMovies, Television Shows, Web Series
Increase CN¥128.2 million[1] (2015)
Total equityCN¥2.109 billion[1] (2015)
Owner
Footnotes / references
financial data unaudited[1]

History

In 2011, former president of Enlight Pictures, Zhang Zhao (Chinese: 张昭; pinyin: Zhāng Zhāo), founded Le Vision Pictures. He currently serves as Chairman & CEO of the new company. In May 2013, Zhang Yimou, joined the firm as a contracted movie director and Creative Director. In March 2014, director Lu Chuan joined.

During its first two years, Le Vision launched its “O2O Marketing System”, a business model to connect with consumers across new and established on-line/off-line platforms.

In August 2013, the firm raised RMB 200MM in its first round of financing, valuing it at RMB 1.5 billion.

In September 2014, Le Vision announced a second round of financing of RMB 340 million, at which time its value reached RMB 4.8 billion.

On 5 December 2015, LeEco announced that Le Vision Pictures would be sold to sister company le.com, subject to the approval of the shareholders of the listed company. As at 8 November 2016, the deal was not completed.[3]

In January 2017 Sunac China acquired 15% stake from LeEco.

Films

Le Vision produced and distributed six films in 2012. The Bullet Vanishes was nominated for four Golden Horse Awards (Taiwan), including “Best Picture”, and thirteen Hong Kong Film Awards. The Expendables 2, in which Le Vision co-invested and also co-distributed in China, grossed over $57 million in China, accounting for 18.5% of its total global box office revenue.

In 2013, Le Vision released nine films, grossing a total of $170 million. This included Love Will Tear Us Apart, Tiny Times & Tiny Times 2. Tiny Times took in $78.9 million at the box office that summer, setting a new record in China for a 2-D film opening.

During 2014, Le Vision released 13 films, grossing nearly $390 million in box office revenue 3. Boonie Bears: To the Rescue set a new box office record for a domestic animation film. Zhang Yimou's Coming Home was selected for the “Special Feature” section at the Cannes Film Festival and made nearly $48.4 million—breaking the existing record for arthouse films.

Multiple platforms

Le.com, the sister company of Le Vision, is the biggest Internet VOD platform in China. Anticipating the rise of home theater viewership in China, Le.com (known then as Letv Group) launched two leading products in VOD streaming, C1S and Super TV.

In April 2015, LeEco (known then as Letv Holding) launched its own smartphone.

Productions

References
  1. "MAJOR TRANSACTION - IN RELATION TO INVESTMENT IN TARGET SHARES OF LESHI INTERNET, LESHI PICTURES AND LESHI ZHIXIN" (PDF). Sunac China. Hong Kong Stock Exchange. 13 January 2017. Retrieved 18 January 2017.
  2. "China Film Industry Report 2014-2015 (In Brief)" (PDF). english.entgroup.cn. EntGroup Inc. Retrieved October 15, 2015.
  3. "关于继续推进重大资产重组事项及后续工作安排说明的公告" (PDF). le.com (in Chinese). Shenzhen Stock Exchange. 9 November 2016 [Written on 8 November 2016]. Archived from the original (PDF) on 9 November 2016. Retrieved 9 November 2016.
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