Mtime is a Chinese go-to site for both film enthusiasts and executives. (Photo : www.thenextweb.com)
Mtime, a firm founded by former Microsoft executive Kelvin Hou in 2005, has been the go-to online firm of most Hollywood people who want their films to reach more fans in the continuously rising Chinese movie market.
Started as an online listing of movie times, the Beijing-based company has then expanded its business to movie-news service, movie-scoring system, compilation of user-submitted reviews, and online ticket service.
The firm, which boasts around 160 million unique desktop and mobile users, is regarded by many as a Fandango, Rotten Tomatoes, Yahoo Movies and IMDb all rolled into one.
Recently, the one-stop movie portal, which has backing from CBC Capital and Fidelity Growth Partners, forayed into merchandising.
It began opening "merchandising centers," mostly in Wanda theaters, in January this year. This is apart from its website, which also serves an e-commerce avenue for online consumers.
"All of a sudden, it's a wildfire," Hou shared, adding that by December, he expects to build around 80 of the said centers in the country.
One of Mtime's early merchandisers was Walt Disney Studios who, through Mtime, was able to sell 300 "The Avengers: Age of Ultron" items.
This marketing strategy has been luring the executives at Hollywood who have been trying to improve their titles' performance in the Chinese movie market.
The market is forecast to surpass the United States as the world's largest film market. In a Motion Picture Association of America data, China has pulled in $4.8 billion worth of ticket sales last year--a 34-percent increase, year-on-year.
Meanwhile, for Wanda Theater Group president Zeng Maojun, its partnership with Mtime "marks an important milestone in China's movie market," citing that there is now a movie merchandise shift from niche to "a vital part of the lifestyle market."
As for Mtime's financial standing in the market, the 49-year-old Hou declined to disclose the firm's profit and revenue.
However, his company, with three major money-making avenues--online ticketing revenue share, studio fees, and now, merchandise sales--is on "very, very good financial footing."
