Latest update December 15th, 2015 10:12 PM
Will the Horse Galloping Again?
BEIJING, Nov 8 - Beijing Galloping Horse Media Co., Ltd had a very tumultuous year in 2014. Once a rising power in the Chinese film industry, one firm as important as companies like Enlight Media, this horse now seems no longer robust and almost ceases galloping ever since Founder and CEO Li Ming’s tragic sudden death in January.
Early this November, it was announced that Li Ming’s sister would replace the current President of Galloping Horse Jin Yan, Li Ming’s widowed wife. One day later, 13 people from the company’s senior management and some contracted screenwriters and directors made a joint announcement that they support Jin Yan’s legitimate role as the President. Things get increasingly muddy.
One of the pioneering private film companies that kept signing top screenwriters and directors, GH once made an international name by acquiring Digital Domain. Since 2009, 6 of the films have gained over 100 million RMB in box office: ONCE UPON A CHINESE CLASSIC MY OWN SWORDSMAN THE MOVIE, THE FOUNDING OF A PARTY, ETERNAL MOMENT, GUNS AND ROSES and NO MAN’S LAND. ETERNAL MOMENT has won 200 million RMB for an investment of 20 million RMB only, while NO MAN’S LAND made into the Competition section of Berlinale 2014.
In 2013, the late chief Li Ming announced to invest in 300 million RMB in John Woo’s THE CROSSING, which made GH, once again, well-known to the global film industry.
But its core competitive edge lied in its creative team: China’s top screenwriters like Liu Heng, Shu Huan, Lu Wei and Lan Xiaolong were once under the wing of Galloping Horse.
It no longer has director Ning Hao on its company profile, a loss too dear to calculate: Ning’s BREAKUP BUDDIES swept the whole country this autumn, winning 1 billion RMB at the box office, but now GH could not get a dime in this huge profit.
Besides Ning Hao, social media influence and super creative screenwriter Kong Ergou left GH this May. Meanwhile, Zhong Lifang, GH’s financial head, has literally left the company for her own new business. Zhong was listed by FORTUNE magazine as one of the top 40 under 40 business leaders in China.
Will this horse galloping again? Maybe the release of THE CROSSING I this December can ease its pain temporarily.
Swift action led by one powerful leader and a group of executive and creative team may save the day, or Galloping Horse’s glory might only be found in its past records.
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