How the Wuhan coronavirus changed an industry in one 24 hour $91m deal!

By Tomatosoup | TechSoup | 11 Feb 2020


This is not a strong about facemasks and medical equipment. Not about delayed manufacturing.

This is a stunning illustration of how fast a business can move when the chips are down. 

China’s Huanxi Media Group faced loosing millions. Thier new film, Lost in Russia was scheduled for release in time for the Chinese New Year holidays - peak viewing time but 70,000 cinemas were closed to reduce the spread of the Wuhan coronavirus.

In 24 hours they negotiated a US$91 million deal for digital distribution of the film and other TV shows with ByteDance, the company behind TiKTok. Making the two hour film available to millions of users more accustomed to watching 15 second videos. 

Two days later the film, Lost in Russia, had had 600 million views and ByteDance has had a significant uptick in new users.

The Conversation has the full story.

How many Western companies would, or could, make such a swift move? 

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Tomatosoup
Tomatosoup

Interested in all things crypto and in tokenization of (almost) everything.


TechSoup
TechSoup

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