In an era where box office receipts alone no longer sustain the film industry, Chinese entertainment leaders are turning to intellectual property (IP) as a long-term engine for growth. At a recent forum hosted by Oriental Fortune, industry veterans Wang Changtian, Gong Yu, Wang Jun and Gao Shan gathered to discuss how sustainable IP management can open new pathways for cinema in a rapidly evolving market.
The discussion comes amid growing pressure on studios to diversify revenue beyond theatrical releases. With rising production costs and shifting audience habits, particularly among younger viewers who favor streaming and short-form content, traditional box office dependence is proving insufficient. Executives emphasized that IP—ranging from film franchises and literary adaptations to original characters and story universes—must be nurtured across multiple platforms and over extended periods to generate lasting value.
Wang Changtian, founder of Enlight Media and a veteran producer known for hits like Crazy Stone and Project Gutenberg, stressed that successful IP requires more than just a strong opening weekend. “We demand to think in terms of franchises, not films,” he said, according to forum transcripts. “A single movie might break even, but a well-managed IP can support sequels, spin-offs, merchandise, theme park attractions, and digital experiences for a decade or more.”
Gong Yu, CEO of iQiyi, highlighted the role of streaming platforms in extending IP lifecycles. He noted that data analytics from viewer behavior allow companies to refine storytelling, test spin-off concepts, and build deeper audience engagement. “The feedback loop is faster now,” Gong explained. “We can see what resonates in real time and adjust—not just for the next season, but for the next phase of the IP’s evolution.” His comments align with iQiyi’s recent investments in original dramas like The Longest Promise and Story of Kunning Palace, which have spawned novels, comics, and consumer products.
Wang Jun, representing Huayi Brothers, pointed to the risks of overexploitation. “IP fatigue is real,” he cautioned. “If we keep squeezing the same characters without innovation, audiences will tune out.” He advocated for a balanced approach that respects creative integrity while exploring new formats, such as animated shorts, interactive games, and live events. Huayi Brothers has experimented with this model through its Detective Chinatown franchise, which includes films, a web series, and a mobile game.
Gao Shan, a film scholar and advisor to the China Film Association, called for greater collaboration between creators, distributors, and technology firms. “IP development isn’t just a studio task,” she said. “It requires writers, designers, technologists, and marketers working together from the outset.” She cited the success of properties like Ne Zha, which began as a mythological figure and grew into a multi-film franchise backed by toy lines, theme park rides, and educational content.
The forum underscored a broader industry shift: from event-driven blockbusters to sustained narrative ecosystems. This mirrors trends seen globally, where franchises like the Marvel Cinematic Universe and Wizarding World have demonstrated the financial power of long-term IP strategy. According to a 2023 report by PwC, global entertainment and media revenue from IP-driven content is projected to exceed $2.6 trillion by 2027, with franchises and adaptations accounting for over 40% of film studio income.
In China, the push for IP longevity is also shaped by policy. The 14th Five-Year Plan for Cultural Development encourages the creation of “cultural IP with Chinese characteristics,” supporting original stories rooted in history, folklore, and contemporary life. Government-backed funds now prioritize projects with clear sequel potential and cross-platform expansion plans, signaling institutional backing for the shift discussed at the forum.
Still, challenges remain. Piracy continues to erode returns, particularly for digital content. A 2022 study by the China Audio-video and Digital Publishing Association estimated that online piracy costs the domestic film and television industry over 60 billion yuan annually. Talent retention and creative burnout pose risks as studios demand faster output from successful IPs.
To address these issues, participants called for stronger copyright enforcement, better revenue-sharing models for creators, and investment in talent development programs. Gong Yu noted that iQiyi has launched internal incubators to nurture new writers and directors, while Wang Changtian emphasized Enlight’s partnership with film schools to identify emerging voices.
The conversation reflects a maturing industry mindset—one that values patience, creativity, and strategic foresight over short-term gains. As Wang Changtian put it, “Film is not just about what you earn this quarter. It’s about what you build for the next generation.”
What This Means for the Future of Chinese Cinema
The forum’s insights suggest a turning point where Chinese studios are moving from reactive, hit-or-miss production to proactive, IP-centric planning. This shift could lead to more stable employment for creatives, higher-quality sequels, and richer audience experiences. For viewers, it may mean more familiar worlds to return to—alongside fresh stories that feel connected to a larger narrative universe.
Industry analysts say the success of this approach will depend on execution. Studios must avoid the pitfalls of creative stagnation while leveraging data and technology wisely. Those that balance commercial goals with artistic integrity are likely to emerge as leaders in the next phase of global entertainment.
As the forum concluded, there was broad agreement: the days of relying solely on ticket sales are over. The future belongs to those who can tell stories that endure—not just on screen, but across time, platforms, and generations.
Next Steps and Industry Outlook
No single event marks the next milestone in this transition, but several developments are worth monitoring. The China Film Association is expected to release updated guidelines on IP development later in 2024, following consultations with studios and creators. Major film festivals such as the Beijing International Film Festival and Shanghai International Film Festival are likely to feature panels on IP strategy and cross-media storytelling.
Streaming platforms continue to invest in original IP, with iQiyi, Tencent Video, and Youku all announcing slate expansions for 2024–2025 that include franchise-building projects. Meanwhile, box office performance during the summer and National Day holiday periods will remain a key indicator of audience appetite for both new and established franchises.
For those interested in tracking official updates, the State Administration of Film provides periodic reports on box office trends and policy changes via its website. Industry publications such as Screen Daily and Variety Asia also cover developments in Chinese cinema and IP trends.
We invite readers to share their thoughts on how IP is shaping the films they watch. What franchises have you followed across movies, shows, or games? Which stories do you wish would acquire a longer life? Join the conversation in the comments below and help us understand what lasting storytelling means to you.