A unit of mm2 Asia along with New Culture Media Hong Kong and 9i Film & Television Media will co-invest US$25 million to co-produce five films and multiple online films over the next three years.
mm2 Entertainment Pte, a producer of films franchise such Ah Boys to Men and Vampire Cleanup Department, said the tripartite agreement will be signed by mm2 Entertainment, New Culture Media Hong Kong and 9i Film & Television Media during the 2017 ContentAsia Summit.
Dongfang Jiaying Television Cinema Media Share Co, which has received investment from various Chinese entertainment industry leaders including Alibaba Pictures, has expressed interest in taking part in the collaboration.
mm2 Entertainment has so far produced and distributed over 100 films across Asia since 2008. It has srategic partnerships in Malaysia, Hong Kong, Taiwan, China and the U.S.
The collaboration signifies all parties' commitment to investing in, and producing content that appeals to audiences in both China and Southeast Asia, the online content producer said in a statement on Thursday.
"This memorandum of understanding marks a new milestone in the development of our movie pipeline for the Chinese speaking markets of North Asia and Southeast Asia," said Chang Long Jong, chief executive officer of mm2 Asia.
All companies will work together on the conceptualisation, development, production, distribution and merchandising of the films to maximise commercial value and audience reach.