"Russia-China-TV-content-exchange"

Russia and China accelerate TV content exchange

Russia’s National Media Group (NMG) and CTC Media have signed a memorandum on cooperation with the Chinese media holding Huace Film & TV in the field of content exchange.

The agreement, which was reached at this week’s Russian-Chinese Media Forum in Moscow, covers the exchange of content formats, its adaptation to local versions and the exchange of ready-made programmes and serials The parties intend to implement joint production of content both by co-financing and organising technical support and combining creative efforts.

Commenting on the development, Olga Paskina, General Director of NMG, said: “By combining efforts with world leaders in the production and distribution of content, we are giving an impetus to the development of the media industry in Russia.

“The Chinese media business is unique, and the exchange of experience will allow us to enrich the industries of the two sides”.

Vyacheslav Murugov, CEO of CTC Media, added: “I am delighted that the leaders of entertainment television of the two countries, CTC Media and Huace Film & TV, have decided to follow the path of joint development. For CTC Media, this will be an unprecedented experience and an opportunity to enter the market of the Republic of China and other Asian markets with the help of a Chinese partner.In addition, cooperation with the largest manufacturer of Chinese TV content will be an interesting creative challenge. I am convinced that combining efforts will allow our companies to achieve even greater successes both in their own markets and on the international arena”.

Zhao Yifang, founder of Huace Group, said: “With the development of the One-Belt and One-Way Initiative, the cultural exchange between China and Russia has significantly increased in recent years.

“As the largest film and television producer in China, Huace Group explored opportunities for developing industrial cooperation between China and Russia. I am very pleased that Huace Group has entered into a strategic partnership agreement with CTC Media and LMWH during the 3rd Russian-Chinese Media Forum, which marks the beginning of a great cooperation that will bring success to Russian partners and Huace Group soon”.