Online game developer and operator Giant Interactive Group is entering the film industry, making it the latest in a suite of local game makers lured by China's hot movie market.
The Chinese company has established its subsidiary named Giant Pictures, which will focus on projects suited for the big and small screens.
The newly formed company will also be involved in other "intellectual property and entertainment industry investments," according to a report by EntGroup. It will likewise be using its copyrighted gaming content to produce online and TV shows, novels and films.
Forming Giant Pictures is the first initiative of Giant Interactive Group since its privatization in 2014 amounting to $3 billion, said EntGroup.
In an interview with local press, Giant Interactive CEO Liu Wei said that his company is not entirely a newbie in the movie market, having collaborated with Chinese celebrities such as Wang Baoqiang, Fan Bingbing and Yang Mi.
Earlier, the company dropped hints that it was foraying into the film industry via investments in Wanda Pictures' 10-billion-yuan campaign, reported EntGroup.
"Giant Interactive has been ambitious to get into the entertainment industry for a while now," Elements Capital managing director David Hao was quoted as saying by EntGroup.
Venturing into the film industry has been a trend among local game developers recently. Some of those who have announced their investments in various film projects include Youzu Interactive, Linekong and NetEase.
"I think it is a big trend that everyone is moving . . . it's just a matter of when," Hao told EntGroup.
This also comes ahead of the imminent success of "World of Warcraft," an American fantasy film based on the popular video game. The movie was produced in partnership between game developer Blizzard Entertainment and Legendary Pictures, which is a subsidiary of China's Wanda Group.
Last week, the film recorded $20.4 million in advanced ticket sales in China, just two days before its local release.
"Given the upcoming high possibility of success for the 'World of Warcraft' film, I think more Chinese companies will be pumped to jump in," Hao said.