Former Enlight Pictures Head Zhang Zhao Joins LeTV
BEIJING – Beijing’s subscriber fee-based Hulu clone LeTV has hired Zhang Zhao, formerly head of Enlight Pictures, to head up a new feature film division, the Chinese producer said on Tuesday.
Zhang, who produced Chinese hits such as the All’s Well That Ends Well films (2009-10), told The Hollywood Reporter that he would announce the new Le Vision Pictures’ first five-year plan, including tie-ups with partners in Hollywood, in the coming months.
“LeTV has produced a few films but they wanted to get deeper into the film business and expand their international connections,” Zhang said. “I’m interested in their Internet business but my job is to build up the infrastructure of the Le Vision Pictures.”
Using "le," one Chinese word for entertainment as a key part of its name, LeTV started up in 2004 and went public on the Shenzhen Stock Exchange in 2010.
In February, PPLive, a leading Chinese peer-to-peer video platform, said it would spend 10 million yuan ($1.51 million) on licensing content from LeTV.
LeTv’s subscriber-based business model is different from Youku and Tudou, the leading online video sharing companies competing to reach the China’s massive web-surfing population of 457 million people.
Zhang leaves Beijing-based Enlight, the four-year-old movie division of Wang Changtian’s television production company Enlight Media Group, after initiating a slate of nine films including Hong Kong director Dante Lam’s sequel to the 2006 hit Dragon Tiger Gate.