Robert Simonds is a popular personality in Hollywood industry. He is known as an American film producer as well as an entrepreneur and chairman/CEO of STX entertainment. He is well-known as the main founder of STX entertainment which has produced virtual reality, television, and digital media concepts. Robert Simonds have produced approximately 30 Hollywood movies which include The Pink Panther, Big Daddy, Water Boy and many more.What do you think Can Robert Simonds make STX Entertainment be the Next Major Studio?
In March 2014, Simonds decide to announce the formation for development of STX entertainment. Thus he joined hands with an entrepreneur or you can say Hollywood producer Gigi Pritzker.
According to March 10, 2014 reports Robert Simonds and Gigi Pritzker both the producers decide to partner with private equity giant TPG and Honey Capital of China on an ambitious production venture. Their goal is to create around 10 films annually.
Both of them want to pay attention towards the upcoming project’s emphasis on global appeal with a mid-range budget. It vows to remove the traditional distribution process in favor of enterprise exhibitors AMC Theaters, Regal Entertainment Group, Cinemark and Carmick, as described in the form of “unprecedented direct distribution agreement”.
Talking about a seismic shift in the entertainment industry has opened various opportunities for production as well as distributors. Robert Simonds work as a chairman and chief executive. Pritzker will be on the board. Therefore we can say that Gigi Pritzker OddLot entertainment was not affecting at all by the deal and this was her personal investment.
This deal was counted as the latest example of Chinese investors. Both of them are recognized as successful partners having a traditional distribution system in North America. They are expanding vastly in the Chinese entertainment market. The developing digital channels are the best example of their partnership.
As according to biggest production investment the studio has a direct agreement with largest North American theater chain. In this certain features, are include No 1 Regal Entertainment, No 2 AMC entertainment, and Cinemark or Carmike Cinemas.
Involvement of Honey Capital partnership has also provided alliance with SMG (Shanghai Media Group) Pictures in Chinese film and TV production. Honey Capital was founded in the year 2003 and nowadays SMG is managing assets of $ 7 billion. A partnership of Robert Simonds and Hony Capital is popular news. Therefore it is responsible for the flow of Chinese investment coin into showbiz.
According to the reports of 2008-2012, the global entertainment box office was increased by 25 percent i.e. near about to $ 34.7 billion. This brings a vast revolution in the entertainment industry. A growing international demand from US and Canada are the big example of this production venture. The films are also responsible for boosting the US film industry in recent years.
The coming figures from the Motion Picture Association of America, states that the Chinese box office increased one-third in 2012. It can be calculated as $ 2.7 billion and is also trying to overtake Japan as a second-largest global market.