Based in Perth, Western Australia, Legend Media Group aims to become Australia’s leading independent entertainment group, through IP development, production and exploitation of entertainment content rights across all consumer media throughout the world.
Legend’s business strategy is China market-focused and China market-responsive.
As a content creator, Legend is focused on capitalising on the opportunities offered by the rising Chinese market with our deep film and television project pipeline.
Our strategic focus is strengthened by our unique approach to building a presence in the fast-growing Chinese film business, expanding our platform and creating new growth opportunities.
CHINA MOVIE BUSINESS OVERVIEW
China has emerged as an economic powerhouse.
In efforts to continue its growth, China is looking to its “cultural sector,” which includes Media & Entertainment, to become a stronger engine of its economy.
For Australia, and Australian businesses in particular, has there ever been an opportunity like China?
China is home to more than 1.36 billion people – or about 56 times the population of Australia.
China is the world’s number one trading nation and manufacturer by output.
In 2014, Chinese GDP topped $10 trillion, second only to the United States.
China’s GDP growth rate over the past three decades has often bypassed 10 per cent, and consistently exceeded seven per cent.
As the Chinese economy matures, annual GDP growth is still tipped to exceed 5 per cent.
With a middle class that is expected to reach 70 per cent of its population by 2030, and annual two-way trade with Australia reaching more than $150 billion, China is Australia’s biggest trading partner, and its large and diverse market presents a lucrative opportunity for Australian enterprise.
As China matures into a more advanced, consumer-driven, developed economy, Australia should increasingly build on non-resource export opportunities.
Currently, Chinese government is investing billions of US dollars into the cultural sector as it looks to satiate its increasingly wealthy middle class’ appetite for entertainment, as well as propel Chinese culture overseas.
Given the frankly remarkable transformation of China’s culture & entertainment industry of late, the Chinese market is a significant opportunity for Australian companies.