Chinese billionaire Wang Jianlin visited Shanghai Disney land last fall to see for himself attractions drawn from the Disney catalog, from Star Wars and Pirates of the Caribbean to Snow White and the other fairy-tale princesses.
Mr. Wang, whose competing theme parks lean toward stomach-churning thrill rides, had voiced contempt for Disneys bringing its brand of Americana to China. One tiger is no match for a pack of wolves, he said in a 2016 TV interview. He described plans to build as many as 20 theme parks in China in a growing showbiz empire that included AMC Entertainment Holdings Inc. and Legendary Entertainment, a Hollywood production and finance company.
This month, Mr. Wangs Dalian Wanda Group announced plans to sell most of its theme-park properties for more than $13 billion, including debt. Mr. Wang, 62 years old, is preparing for an IPO of his property business in China but has yet to receive regulatory approval, prompting him to reduce debt and raise cash.
Mr. Wangs retreat reflects the challenge of rising to show-business superpower. China has yet to field companies with the talent to compete with Hollywoods movie and TV studios. American box-office success follows a century of filmmaking, which Disney and Comcast Corp.s Universal Studios have parlayed into global theme-park empires.
The late Walt Disney built Disneyland in the 1950s with the help of movie studio workers skilled in the arts of storytelling and illusion. Wanda, one of Chinas largest commercial property developers, tried to elbow its way into the business without that background.
A few years ago, Walt Disney World employees in Orlando, Fla., noticed guests measuring bricks on Main Street and taking photos of fanciful shop keyholes, according to a person with knowledge of the incident. When asked, the visitors said they were conducting research for Wanda, this person said.
More recently, staffers at the original Disneyland in Southern California noticed park guests observing how lines were managed at Mr. Toads Wild Ride, a popular childrens attraction, this person said.
Read the full article here: https://www.wsj.com/articles/chinas...a-key-ingredient-blockbuster-films-1500561334
Pretty interesting article that shows the difference between US and China in a soft power-related field.
Remarkable even more, when you consider that Wanda Chairman Wang Jianlian said this last year:
In May, Wanda Chairman Wang Jianlin predicted failure for the Shanghai Disney Resort and pledged to build 15 to 20 smaller theme parks across the country over the next several years to compete with Disney.
"The frenzy of Mickey Mouse and Donald Duck and the era of blindly following them has passed," he said.