Chinese giant Dalian Wanda Group and Sony on Thursday announced a new strategic marketing alliance.
The agreement includes Sony Pictures’ upcoming high-profile releases in China, including Spider-Man: Homecoming, which is set to open in U.S. theaters July 7.
Wanda, the largest theater owner in China, will use its vast footprint to help promote Sony's movies in the region, which has fast become the world's second-largest box office. It is understood Wanda also may take small equity stakes in the Sony titles on a case by case basis.
"The Chinese market for Hollywood films continues to boom, and this alliance gives a huge boost to our ability to connect directly with its audiences," said Tom Rothman, chairman of Sony Pictures Entertainment Motion Picture Group. "Wanda is a dynamic entertainment player led by the visionary chairman Wang Jianlin; we are honored to be in business with them."
