Creative Artists Agency Partners with CMC Capital, Creating Alliance of Industry Leaders in World’s Fastest Growing Entertainment Market
LOS ANGELES & BEIJING–(BUSINESS WIRE)– Creative Artists Agency (CAA), the world’s leading entertainment and sports agency, has partnered with CMC Capital Partners (CMC), China’s leading investment fund in media and entertainment, Internet and mobile, and lifestyle. The robust partnership includes the formation of CAA China, a world-class media and entertainment platform, and a minority strategic investment by CMC in CAA. Creating alignment throughout the agency, CMC Chairman Li Ruigang will join CAA’s Board of Directors.
Majority-owned by CAA, CAA China combines the expertise and vast resources of CAA with the broad reach and network of CMC in Greater China. CMC’s tremendous market experience in entertainment and sports combined with CAA’s representation of top Chinese talent, in addition to its leadership in film finance, will create a wide spectrum of new business and client opportunities in the swiftly growing Chinese market, ranging from talent representation, endorsements, and sports, to digital media, music, and original content production.
With more than two dozen employees in Beijing, CAA opened its China office in 2005 and has successfully built out its multiplatform approach to the market. The company has been at the center of every major Chinese co-production for the past 10 years and has packaged, sold, or raised financing for more than 75 Chinese-language film projects. CAA’s Global Film Finance & Sales Group has directed more than $400 million in Chinese capital into English-language content. In addition, under the leadership of Jonah Greenberg, who runs the agency’s China efforts in motion pictures, CAA represents many of the most accomplished actors, directors, writers, and producers from Mainland China, Taiwan and Hong Kong, including Zhang Yimou, Lin Chi-ling, and Donnie Yen, among others.
“For more than a decade, we have served as a vital bridge to and within the Chinese market, utilizing our deep experience and network to support the work of the region’s best artists and to develop opportunities within the market for international talent,” said CAA President Richard Lovett. “CAA China will supercharge our efforts, from motion pictures, television, endorsements, and brand consulting to sports, live events, digital media, and beyond. CMC, under the leadership of Li Ruigang, has a remarkable record of success in the region, and we are confident that our partnership will yield tremendous results for our clients and future business partners in China.”
“We believe China and the US are the two biggest entertainment markets and play pivotal roles on the global landscape. The partnership not only creates commercial and industry value, but also serves as an innovative force in the evolution of the Chinese media industry,” said CMC Chairman Li Ruigang. “CAA is a prominent institution in the US entertainment and sports sector, which has built its success on systematically and consistently enabling the success of their clients throughout the years. We are immensely excited about the potential possibilities of an enhanced China angle by CMC coupled with the experience and resources of CAA. CMC has been in a highly productive cooperation with CAA under the leadership of Richard Lovett, and we look forward to greater accomplishments in the future.”
Founded by Li in 2010, CMC is a leading investor in media and entertainment, Internet and mobile, and lifestyle sectors in China. With a deep understanding of the China market, an extensive network of industry resources and prominent operational capabilities, CMC has invested and operated in Greater China, North America, Europe and Asian markets, and has created and supported the growth of many champions and emerging leaders in film, television, animation, kids content, sports, music, fashion, games, location-based entertainment, cinema, digital media, social platform, and entertainment technology. CMC’s previous and current investment and operational portfolio includes IMAX China; Star China, China’s top variety production company; Flagship, a joint venture studio with Warner Bros.; and City Football Group, a football club management company that owns Manchester City Football Club and New York City Football Club. Prior to founding CMC, Li was the Chairman and CEO of Shanghai Media Group (SMG) for more than ten years and successfully transformed SMG from a provincial broadcaster into a leading media conglomerate in China.
“CAA China demonstrates the vision and innovation that has driven CAA’s growth and fueled its ability to stay on the leading edge of industry trends,” said Jim Coulter, co-founder of private equity firm TPG, CAA’s majority shareholder. “CAA has had a significant impact on the Chinese entertainment marketplace by enabling its clients’ success over the past 12 years. We are thrilled with the company’s progress and the value-creation CAA has realized for its shareholders since our investment. With CMC as a meaningfully invested partner, and continuing growth in the Chinese market, the potential for CAA China is limitless.”
Greenberg will continue to lead CAA’s China efforts in motion pictures, working with the existing team in the Beijing office. Roeg Sutherland, Co-Head of CAA’s Global Film Finance and Sales Group, will continue to lead the agency’s film finance business in the market. CAA China will progressively add additional senior management to help expand the business into new entertainment and sports areas.
About Creative Artists Agency
Leading entertainment and sports agency Creative Artists Agency (CAA) represents many of the most successful professionals working in film, television, music, theatre, video games, sports, and digital content, and provides a range of strategic marketing and consulting services to corporate clients. CAA is also a leader in sports, representing more than 1,000 of the world’s top athletes in football, baseball, basketball, hockey, soccer, tennis, Olympics and action sports, and golf, and works in the areas of broadcast rights, corporate marketing initiatives, licensing, and sports properties for sales and sponsorship opportunities.
About CMC
CMC, founded and chaired by Li Ruigang, is China’s leading investment and operating platform in media & entertainment, Internet & mobile, and lifestyle, and invests and operates in Greater China, north America, Europe and Asian markets. With a deep understanding of the China market, an extensive network of industry resources and prominent operational capabilities, CMC has created and supported the growth of many industry leaders in subsectors including film, television, animation, sports, music, fashion, games, advertising, marketing, financial media, location-based entertainment, cinema, online video platforms, OTT, smart TV and social media.
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Contacts
Creative Artists Agency
424.288.2000
Michael Mand, Mmand@caa.com
Beth McClinton, Beth.McClinton@caa.com
Missy Davy, Mdavy@caa.com
or
CMC
Jiaming Wu, Jiaming.Wu@cmccap.com