Hollywood has been eying China’s booming movie market in hopes that it can provide a major boost in sales. However, U.S. movie studios doing business in this booming region find themselves walking on glass in the world’s 2nd largest movie market.
Trying not to offend the wrong person, or company, due to cultural differences in China is becoming paramount (no pun intended). In fact, a dispute almost lead to Transformers 4 not even being shown.
In a widely publicized dispute between Beijing’s Pangu Investments and Paramount, Pangu Investments demanded changes to the move stating that Paramount breached its promise to feature its distinctive property in the movie.
Pangu Plaza (located in Beijing). Pangu Plaza is a 7-star, dragon-shaped hotel, office and mall complex that stretches the length of seven football fields.
In a statement released by Pangu Investments, it said that it provided at least 10 million yuan ($1.6 million USD) to the studio and that the breach of contract impacted Pangu’s image and reputation, incurring huge losses and affecting its original business plan.
Perhaps something was ‘lost in translation’ in the contract signed by both parties as Pangu alleged that the English version of the contract provided by Paramount was significantly different from a Chinese version.
It’s interesting to note that the issue was allegedly brought forward just a week prior to the premiere of the movie and issues with the film were not mentioned during private screenings.
Dissatisfaction seemingly came after Paramount had an official screening in Hong Kong with Mark Wahlberg and followed that up with a showing at the Shanghai Film Festival. Seems as though Beijing being left out the mix may have impacted the dynamics.
All is well now. On Monday, Pangu Investments released a statement stating that the two sides “have gained mutual trust and reached an understanding” after friendly negotiations with Paramount.
This is the longest installment in the “Transformers” franchise to date, with a running length of 165 minutes. “Transformers: Age of Extinction” premieres in North America this Friday.