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Phoenix Waters, Studio Target Sign Tri-Regional Film-TV Partnership, Set ‘Shashou’
Hong Kong's Phoenix Waters Productions and South Korea's Studio Target have inked a memorandum of understanding to bolster cross-border collaboration.
The strategic alliance, revealed during Hong Kong FilMart, will focus on jointly developing, financing and producing films, series and microdramas — the latter being short-form digital content that has gained significant traction throughout Asia as vehicles for audience engagement and brand integration. Set to commence production later this year with a global cast, the project has already secured participation from Berkeley Media Group and Ostara Pictures, with SC Films International handling sales and MAD Solutions acquiring MENA rights. Hong Kong’s film sector has been seeking new avenues for growth and international expansion, while Korea’s industry grapples with sustainability issues amid escalating production costs and stagnant budgets.
Or read this on Variety