$HHSE$ -- Doing business with China's largest onli

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Filmart: iQiyi's 'Kung Fu Traveler' Set for North American Debut

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Directed by Xian Feng, the action film stars Asian martial arts master Tiger Chen in a story about an alien takeover of Earth.

As Filmart got underway in Hong Kong on Monday, Crimson Entertainment acquired the rights to Chinese streaming-video giant iQiyi’s sci-fi action film Kung Fu Traveler for a North American release.

Crimson Entertainment, in association with Hannover House, is planning to bring the film out stateside this summer.

Directed by Xian Feng, Kung Fu Traveler stars Asian martial arts master Tiger Chen (Man of Taichi, Matrix) in a story about an alien takeover of Earth. Playing a Chinese military general, Chen’s character is sent back in time to try to devise a way to defeat the alien invaders.

“Tiger Chen is an incredible martial artist and actor and we’re very excited to bring his next project to viewers and audiences in North America.” said Jonathan Lim of Crimson Forest Entertainment. “This is not your typical martial arts film.”

The film was released in China in February exclusively on iQiyi and China Movie Channel, where it generated more than 20 million views in its first week.

“Kung Fu Traveler has very strong commercial prospects in North America, due to spectacular production values and stunning visual effects,” said Eric Parkinson, CEO of Hannover House

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iQiyi is an online video platform based in Beijing, China launched on April 22, 2010. iQiyi is currently the largest online video site in China

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iQIYI was founded on April 22, 2010 by Baidu, which is China’s largest online search engine, and Providence Equity Partners. [3] On November 2, 2011, iQIYI purchased the online license for Transformers 3 in mainland China from Paramount. On November 2, 2012, Baidu bought Providence’s stake and took 100% ownership of the site.[4] On May 7, 2013, Baidu purchased the online video business of PPStream Inc. for $370 million, which became a subsidiary of iQIYI. On July 17, 2014, the site launched its film production division, iQIYI Motion Pictures, to expand existing cooperative projects with overseas peers, including purchasing releases and co-producing movies. On September 4, iQIYI cooperated with Venice Film Festival, streaming of the festival’s movies online. On August 2014, iQIYI generated over 6.95 billion hours of viewing on its website.[5] On September 17, 2014, iQIYI and Dolby launched a collaboration, allowing iQIYI to produce and deliver TV dramas in Dolby surround sound.[6] In October, iQIYI participated in the Busan Film Festival, signing exclusive rights to nearly 100 South Korean titles.[7] On November 19, 2014, Xiaomi and Shunwei Capital invested $300 Million in iQiyi for about 10 percent to 15 percent of the site, while Baidu invested an additional $100 million and held about 80 percent.[8] On December 8, 2014, iQIYI's chief content officer Ma Dong said the portal planned to more than double original production in 2015, with at least 30 titles and 500 episodes on the slate compared to 13 in 2014.[9] In 2015, iQIYI purchased the online copyrights of eight top entertainment shows in mainland China, and several entertainment shows in Taiwan and South Korea, including the Running Man.[10] In March 2016, it announced it would launch in Taiwan.[11] In June 2016 it reported it had 20 million subscribers

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