Tencent acquires Baiman Culture to further integrate new cultural and creative business ecology and explore animation IP incubation

It is reported that Tencent has recently completed the acquisition of a majority stake in Baiman Culture to further integrate the new cultural and creative business ecology. Baiman Culture and Tencent will further promote in-depth internal cooperation to help long-term development. This is also the first time Tencent has a controlling interest in an animation production enterprise. Baiman Culture was established in 2016, focusing on original IP incubation and comic production, animation production, CG and film and television special effects production and other businesses. Baiman Culture develops and owns different types of animation IPs such as 'Westward JourneyAt the same time, Baiman Culture has the domestic first-line animation production capabilities, and its unique creative CG animation is well-known in the industry. With its rich experience in the animation production field, it has produced high-quality CG animation for many large-scale game development companies in China. Special effects production is also an advantage of Baiman Culture. In terms of IP operation, Baiman Culture has teamed up with many partners for in-depth development, and realized the output of comic IP in the fields of film and television, games and so on. Tencent and Baiman Culture have previously had in-depth cooperation in business and capital. Beginning in 2017, Tencent Pictures worked with Baiman Culture to develop the full copyright of its IP 'Westward JourneyAt the same time, Tencent’s games 'Crossing the Line of Fire' and 'QQ Speed' have also cooperated with Baiman Culture in the field of CG animation many times. As of 2019, Baiman Culture has created full-fire version promotion CG for 'Crossing the Line of Fire' series, Giant City Origins version promotion CG, Shadowless Suit promotion CG, Ghost Blasting version promotion CG, Destiny Arena promotion CG, FireWire There are more than 30 CG animations such as CG for the grand ceremony. In May 2019, Baiman received a round A investment of tens of millions of yuan from Tencent. After this increase in investment is completed, Tencent will own a majority stake in Baiman Culture, and Baiman’s IP incubation and operation company will further integrate with Tencent’s new cultural and creative ecology, and continue to explore the construction and value-added of animation IP. Zou Zhengyu, Vice President of Tencent Pictures, Head of Manyu Studio, Head of Evolution Entertainment Studio, Head of Pan-entertainment IP Business Department, said: Baiman’s abundant animation IP reserves can continue to strengthen Tencent’s advantage in the source of IP. Assist the development of Tencent's film and game business. Baiman Culture has a keen IP thinking, and has demonstrated strong comprehensive capabilities in operations such as IP procurement, incubation, and commercial realization. We expect Baiman Culture to achieve more sustainable development after joining Tencent's new cultural and creative ecology. While strengthening its competitiveness and achieving large-scale development, both parties can jointly create more high-quality IP. Liao Ronglu, general manager of Baiman Culture, said: I am very happy to be recognized and affirmed by Tencent. Since our strategic investment, we have had a series of successful cooperation with Tencent. After joining Tencent's new cultural and creative ecology, I believe that Baiman Culture can take advantage of this opportunity to increase production capacity and expand its business more quickly and effectively. We also look forward to closer business cooperation with Tencent and deeper integration of resources to create more benchmark works that are loved by users and have industry influence. Source: Entertainment Capital