Perfect World: Highlight at One of the World's Largest Entertainment Exhibitions
PR Newswire / 23 Aug 2017
ChinaJoy, one of the world’s top three digital entertainment exhibitions, just concluded in Shanghai, China. The event was the world’s largest digital entertainment event in terms of the number of both exhibitors and visitors as well as the size of the exhibition space. China Central Television (CCTV) reported on the event for two consecutive days from both financial and cultural perspectives. Perfect World Co., Ltd. (“Perfect World”), as a renowned pan-entertainment company, was mentioned several times and became the highlight of several of the reports. Led by its founder and chairman Michael Chi (Chi Yufeng), Perfect World has developed what it refers to as a “5+1” business matrix: film and TV, game, animation, comics, literature and education, and evolved into a company creating multiple forms of content.
With creative content as a business ecosystem rapidly becoming an emerging and huge market in China, Perfect World, based on the strategy of delivering best-in-class products, has quickly become the largest publicly-listed movie and game conglomerate. According to its 2016 financial report, the company posted revenue of approximately 6.16 billion yuan for 2016, an increase of 25.87 percent from a year earlier. Net profit for the year reached 1.17 billion yuan. Its game business generated more than 4.7 billion yuan in revenue, an increase of 24.97 percent year on year, while its film and TV business achieved revenue of approximately 1.46 billion yuan, up 28.85 percent from a year earlier.
Perfect World has been committed to producing best-in-class film, TV and game products that meet viewers’ and players’ expectations. The company invested in film and television productions spanning a variety of themes including Deepwater Forces, My P.E. Teacher, The Way We Were, The Awakening (New Edition), The Proud Twins, and Hero Dog (Season 3). These hit TV series achieved audience ratings exceeding 10 percent in prime time. Perfect World also developed game titles based on traditional Chinese cultural subjects, including Zhu Xian, Perfect World, Heaven Sword and Dragon Sabre, Legend of the Condor Heroes, and Dream Book, all of which have proven popular among players.
Perfect World focuses on global and international development, and on the integration of and exchanges between traditional Chinese and other cultures. In China, Perfect World serves as a publisher of world-renowned titles such as DOTA2, CS:GO and Crossout. In addition, the company’s US-based studio developed and released Neverwinter Online, and its French team developed Unruly Heroes, integrating both Chinese and western cultures and resources. Perfect World has now exported its game products to over 100 countries and regions worldwide and has established over 20 branch offices across Europe, North America, Japan, South Korea and Southeast Asia.
In 2016, Perfect World Pictures and Universal Pictures signed a long-term strategic cooperation agreement. In 2017, Perfect World Pictures formed the joint venture, Perfect Village Entertainment, with Village Roadshow and WME|IMG, with the mission of producing films and television programs for international markets. Perfect World Pictures’ productions, Beijing Youth, To Elderly with Love and Love is Not Blind, were presented to Argentina’s president as national gifts.
In 2014, Perfect World founded an education group in Guangdong province, and established strategic partnerships with the world’s leading universities including Columbia University, the University of Maryland, Moscow State University, National University of Singapore and Abertay University. Perfect World Education attended the 9th UNESCO Youth Forum, and organized cultural exchanges such as the Zhi-Xing China-Perfect World US-China Young Leaders Fellowship Program.
Film and TV, game, animation, comics and education are all industries that can bring joy and excitement to people’s lives, said Michael Chi. He explained that Perfect World sought to enter an industry that is one that brings joy into everyone’s life. The firm aims to become a global business conglomerate that creates joy and happiness.
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