Japanese TV content is set to cascade into the People's Republic of China following the inking of a joint venture agreement between Tokyo-headquartered agency titan Dentsu and Chinese media conglomerate, the Shanghai Media and Entertainment Group.
The Chinese media market, currently undergoing exponential growth, has tempted a large number of 'foreign devils' into the vast nation, among them Time Warner and News Corporation. The latest foray by Dentsu, the globe's fifth largest agency group, is a bid to ensure the Rising Sun is not eclipsed by the Stars and Stripes.
Its Chinese outpost, Beijing Dentsu Advertising, will hold 49% of the (as yet unnamed) new venture, with SMEG retaining the controlling balance. In addition to the importation of content, the partners will also sell advertising slots and arrange and promote programming for the Shanghai East Movie Channel.
Dentsu executive officer for Asia and China Shoichi Yamamura hails the move as "a radical step", predicting annual sales of ¥10 billion ($94m; €77.96; £51.32m) within five years. In the twelve months to March 2005 sales of ¥1bn are budgeted.
Data sourced from: Financial Times; additional content by WARC staff