GHY Culture and Media says Tianjin Changxin Film and Media, an indirect associated company of the group, has entered a co-production agreement with iQIYI Inc..
Under the agreement, both groups are set to co-produce a web drama series titled "Strange Tales of Tang Dynasty 3: Chang'an”, which is expected to start filming in October and completed in 2025.
The series is a sequel to two web drama series which were previously co-produced with iQIYI.
To maximise the potential and economic value of its intellectual property (IP) portfolio, the group says that it has developed an IP franchise business strategy, which aims to “create innovative content whilst retaining continuity, in order to make each production a recognisable part of a coherent franchise”.
The group adds that the co-production and distribution of the drama series on iQIYI's video streaming platform is a testament to the “strong network” of business relationships and partnerships that the group has established with key industry players in the media and entertainment industry, which is “crucial to the expansion of the group's business and the execution of its long-term growth plans”.
Shares in GHY Culture and Media closed flat at 11.4 cents on Oct 22.
