Singapore-based media and entertainment company MM2 Asia, along with Taiwanese Man Man Er, has entered into a commercial terms agreement with Taiwanese intellectual property company Million Star (Huaxing) Entertainment.
The deal, which has yet to be completed, will see MM2 and Man Man Er jointly explore commercial opportunities for the more than 600 intellectual property rights operated by Million Star. As part of the deal, Man Man Er and MM2 Asia plan to purchase a strategic stake in Million Star. Details will only become available when the companies complete their due diligence, but as a Singapore public company MM2 is required to inform investors of important deals. The notice comes a day before the opening of the Asia TV Forum in Singapore.
Million Star was founded in 2011, as an agency for pop musicians and actors. He later added intellectual property rights representation for novels and comics, as well as for directors and screenwriters. The company is now focusing on developing IP for movies and TV.
Mm2 says the partnership and investment will allow it to expand its market regionally and internationally and better promote Asian IP to global audiences.
“We have been seeing a growing demand for strong multi-region content in Chinese in recent years; it has been accelerated by the adoption of mobile technology and competition between streaming platforms,” said Melvin Ang, CEO of MM2 Asia. Million Star represents a huge library of works that It could appeal to the entire Chinese diaspora and beyond; with a wide range of genres ranging from historical and fantasy to contemporary drama and science fiction. There is a lot of potential to be explored and we are excited to see where it takes us.”
The two companies are already working on an “agent from above” project based on the intellectual property rights represented by Million Star. The Taiwanese fantasy series was recently announced by Netflix as part of its upcoming Chinese-language slate. The series is produced by mm2 Entertainment and Taiwan’s Good Films Production for Netflix. “Agent from Above” is rooted in the world of “gods, monsters, humans and ghosts” inspired by traditional Taiwanese beliefs. The series revolves around a former drug addict who is recruited to do the bidding of the legendary Chinese deity San Tai Zi as payback for his sins. Directed by Lai Chun-yu, it stars Kai Ko, Wang Po-Chieh, Taiwanese Hsueh Shih-ling, Buffy Chen, and Johnny Yang.
“Chinese literature and traditions have some of the most compelling stories, with themes and characters that can hold their own against any superhero in Hollywood. Journeys may be global but as filmmakers and creators, we can do a lot to bring them into the modern age.” said Chen Zhiyuan, general manager For Man Man Er, this is very exciting.