The former founder and CEO of Changyou.com, Wang Tao, announced that heand the film producer Lu Wei, have established China Film Game Entertainment Group (CFGE). The company will focus on combining film and TV IP with games to expand the influence of the original IP.
Changyou.com is China’s third largest gaming company behind Tencent and Netease. As the founder of his former company, Wang Tao produced the very popular online game Dragon Oath (‘Tian Long Ba Bu’) with the cumulative revenue of over 22 billion Chinese Yuan. Lu Wei successfully launched the animation film ‘Monkey King: Hero is back’ in 2015, with the box office revenue at more than 956 million yuan. This film received the highest box office revenue among other animation films in China.
Game has become the most potential extra revenue in addition to box office revenue in Chinese film investment income. If films and games companies can collaborate in various fields, including selecting original theme, defining world-view, setting artworks and characters, developing under Unreal engine, using 3D scanning and motion capture technology, and even in the field of VR game development, they can make it possible for game users to experience the film plot or an even big world of the IP outside the film.
However, due to the strict confidentiality before film releasing, game companies only have short development time and limited content. They can only use the IP into an existing game mode which normally has short-term lifetime and only get short-term quick money. This phenomenon causes the difficulties to develop and expand the depth of the IP. This is the main reason why current game-film/TV adaptions are simple and rough.
Is there a company that can link film/TV and game from the beginning? To achieve this, Wang Tao and Lu Wei founded CFGE. They are aiming to build ‘High Concept Film-Game’, a new industry and business forms by integrating ‘high-level input, high-tech, highly-integration’ features, but not a simply combination.
CFGE’s goal is to break through the old ways, ‘film to game’ or ‘game to film’, but giving the consideration of users’ demands of both film/TV and game in the initial stage. Starting from the users’ point of view, rely on sufficient investment, comply with human nature, the company will enable to set a same big worldview to both the game and the film/TV, share equal resources and integrate marketing promotion, which maximizes the value of the collaboration of game and film, and eventually produces a ‘Super film/TV-game IP’.
CFGE believes that the real super IP is eternal and will keep growing. Like Hollywood franchise mode, chain operations will suit the need of operating a ‘Film/TV-game IP’ and will be more easily to meet various demands users.
CFGE released ‘Journey to the west: Four Monkeys’, ’Twelve Constellation’, and ’Legend of Qi Xia’, three upcoming films (Hollywood team cooperated and high standard) and games projects. CFGE valuation reaches 1.5 billion yuan, one of the highest angel round valuation in the Chinese gaming industry.