In the same year, Tencent launched Tencent Penguin Pictures (Chinese: 腾讯企鹅影视) a production unit focusing on online dramas and minor investments in feature films.
(meta data) TITLE: Tencent Establishes Penguin Pictures – Variety (meta data) AUTHOR: Patrick Frater (meta data) PUBLISHED DATETIME: 2015-09-11T15:50:07+00:00 Read Next: Pedro Costa's 'Vitalina Varela' Triumphs at Locarno Film Festival Subscribe Today! Variety Intelligence Platform September 11, 2015 8:50AM PT # China's Tencent Hatches Penguin Pictures Chinese social media giant Tencent said Friday that it has set up Penguin Pictures (Shanghai), a new movie production unit. The company will focus on online drama and make minority investments in feature films, as well as establishing its own pool of talent under management. In total Penguin will back 10-15 movies per year. Tencent last year set up a film production unit called Tencent Pictures. The social media giant is already an investor in "Monster Hunt," and provided the intellectual property for "Dragon Nest," which was adapted from one of its games. It revealed that it is also a minority investor in upcoming"Little Door Gods," an animation that will be distributed by Alibaba Pictures Group. It is not clear whether Penguin is the new name for Tencent Pictures, a replacement structure, or a parallel unit. Tencent, which is listed in Hong Kong and this week saw its market capitalization overtake that of Alibaba, is also a major investor in Huayi Brothers Media, China's leading private sector film conglomerate. ### Popular on Variety Loading comments... ### Most Viewed ### Maya Hawke Debuts Two Singles Ahead of Album Release ### Box Office: 'Once Upon a Time in Hollywood' Pulls Ahead of 'Hobbs & Shaw' Overseas ### Box Office: 'Good Boys' Leads Crowded Weekend With $21 Million ### Must Read ### Box Office: 'Good Boys' Leads Crowded Weekend With $21 Million ### Maya Hawke Debuts Two Singles Ahead of Album Release ### Blake Shelton Takes a Shot at 'Old Town Road' in New Single ### Sign Up for Daily Insider Newsletter Please fill out this field with valid email address. ### More Film ### Box Office: 'Once Upon a Time in Hollywood' Pulls Ahead of 'Hobbs & Shaw' Overseas Sony's "Once Upon a Time in Hollywood" might not have hit No. 1 in North America, but Quentin Tarantino's latest film is leading the way at the international box office, where it collected $53.7 million from 46 markets. That marks the best foreign opening of Tarantino's career, coming in ahead of 2012's "Django Unchained." "Once [...] ### Box Office: 'Good Boys' Leads Crowded Weekend With $21 Million The Bean Bag Boys, the self-appointed nickname for the trio of best friends in Universal's "Good Boys," are conquering much more than sixth grade. They are also leading the domestic box office, exceeding expectations and collecting $21 million on opening weekend. "Good Boys," which screened at 3,204 North American theaters, is a much-needed win for [...] ### 'Out Stealing Horses' Tops Norway's 2019 Amanda Awards HAUGESUND, Norway — Hans Petter Moland's sweeping literary adaptation "Out Stealing Horses" put in a dominant showing at Norway's Amanda Awards on Saturday night, placing first with a collected five awards, including best Norwegian film. Celebrating its 35th edition this year, the Norwegian industry's top film prize helped kick off the Haugesund Film Festival and [... ### Richard Williams, 'Who Framed Roger Rabbit' Animator, Dies at 86 Renowned animator Richard Williams, best known for his work on "Who Framed Roger Rabbit," died Friday at his home in Bristol, England, Variety has confirmed. He was 86. Williams was a distinguished animator, director, producer, author and teacher whose work has garnered three Oscars and three BAFTA Awards. In addition to his groundbreaking work as [...] ### Locarno Film Review: 'Instinct' Now that "Game of Thrones" has finally reached its conclusion, releasing its gifted international ensemble into the casting wilds, will Hollywood remember just what it has in Carice van Houten? It's not that the statuesque Dutch thesp hasn't been consistently employed since her startling 2006 breakout in Paul Verhoeven's "Black Book," or even that she's [...] ### Box Office: 'Good Boys' Eyes Best Original Comedy Opening of 2019 Universal's "Good Boys" is surpassing expectations as it heads toward an estimated $20.8 million opening weekend at the domestic box office following $8.3 million in Friday ticket sales. That's well above earlier estimates which placed the film in the $12 million to $15 million range, marking the first R-rated comedy to open at No. 1 [...] ### Pedro Costa's 'Vitalina Varela' Triumphs at Locarno Film Festival The 72nd Locarno Film Festival drew to a close Saturday with Portuguese auteur Pedro Costa's dark and detached film "Vitalina Varela" coming away with several awards together with superlatives from segments of the hardcore cinephile crowd, including jury president Catherine Breillat. In announcing the Golden Leopard prize for the film, as well as best actress [...] ### More From Our Brands ### 'Good Boys' Tops Box Office, Bringing Hope For Original Comedies ### Kyle Richards: Why She Believes She Can Be Friends With Lisa Vanderpump Again ### Hubble spots a big, weird blob of star gas ### Celine Teases New Scents by Hedi Slimane ### Here's Why Leave-In Conditioner is a Well-Groomed Man's Secret Weapon
train21879
Tencent
Products and services.:Entertainment.:Television and Cinema.
In April 2009, Tencent launched iTQQ,a "smart interactive television service" in a joint effort with TCL. 
 In 2015, Tencent launched Tencent Pictures (Chinese: 腾讯影业), a film distributor and a production company that creates and distributes films based on books, comic books, animated series and video games.