Disney Announces Live-Action Beauty and the Beast Film
On the glass-slippered heels of this weekend’s Cinderella success at the box office, Disney announced yesterday that a new live-action Beauty and the Beast film is set to arrive in theaters in 3-D on March 17, 2017. The 3-D retelling will star Emma Watson and Dan Stevens as Belle and the Beast/Prince, respectively. Luke Evans will play the role of Gaston, Emma Thompson will play Mrs. Potts, and Kevin Kline has been cast as Belle’s father, Maurice. The new film will feature new recordings of songs from the 1991 animated classic, with Alan Menken—who won two Academy Awards for the original music—returning to compose the score, including writing several new songs with Tim Rice, according to Disney.
Cinderella took in almost $70 million domestically and another $63 million globally at the box office over the weekend for a total of nearly $133 million.
Nintendo, DeNA in App Partnership
Nintendo Co., Ltd. and DeNA Co., Ltd. entered into a partnership to develop and operate new game apps for smart devices and build a new multi-device membership service for consumers worldwide. The deal will leverage the strength of Nintendo’s intellectual properties (IP) and game development skills in combination with DeNA’s expertise in mobile games. Under the partnership, DeNA will also be able to strengthen its gaming business on a global scale by leveraging Nintendo’s IP.
Nintendo and DeNA also plan to develop an online membership service that is accessible from smart devices, PC, and Nintendo systems. The membership service, which is scheduled to launch this fall, will be built on DeNA’s capabilities in online membership services.
As part of this agreement, Nintendo and DeNA have also agreed to form a capital alliance. It says that Nintendo will acquire approximately 15 million of DeNA’s treasury shares, amounting to 10 percent of its total outstanding stock, for approximately $182 million. DeNA will simultaneously acquire almost 1.8 million of Nintendo’s treasury shares, amounting to 1.24 percent of its outstanding stock, for approximately $182 million.
Disney Announces Frozen 2; Star Wars Movie
At The Walt Disney Co.’s annual shareholders meeting held in San Francisco last week, Disney announced that it will be making Frozen 2, reuniting the same creative team and cast from the first film. A release date was not yet announced. It was also announced that Star Wars: Episode VIII will be released May 26, 2017, and that the first stand-alone Star Wars movie featuring characters and events beyond the core Star Wars saga will be titled Rogue One. It’s scheduled for release in December 2016.
Iconix Brand Group Acquires Full Ownership of Iconix China
Iconix Brand Group, Inc., announced that it has acquired the remaining 50 percent of Iconix China from its joint venture partner Novel Fashion Brands Limited, owned by the Chou family, for $56.4 million, of which $40.4 million was paid in cash and $16 million was paid in the company’s common stock. This transaction provides Iconix with full control and ownership of Iconix China.
“We view China as a major growth opportunity,” said Neil Cole, chairman and CEO of Iconix. “Through Silas and Veronica Chou’s expertise and relationships, Iconix China has successfully launched nine of our brands with more than 900 stand-alone stores, shop-in-shops, and counters throughout China. Now that our business has gained sufficient scale, we have decided to acquire management and control of the business, consistent with the next phase of our international growth strategy.”
Iconix China was formed in September 2008. Iconix says the operating model, different from Iconix’s traditional licensing model, has been to attract entrepreneurs and fast-growing local Chinese companies, providing them with an Iconix brand in which they invest in through the build-out of stand-alone stores and shop-in-shops. In return, Iconix China receives an equity stake in the newly formed venture. To date, the brands that Iconix China has placed successfully are Candie’s and Marc Ecko Cut & Sew with Shanghai La Chapelle Fashion Co. Ltd; London Fog with China Outfitters; Material Girl with Ningbo Peacebird; Ed Hardy with Landmark International; Ecko Unltd. with Xi Ha Clothing; Badgley Mischka with Eve NY; Joe Boxer with Northeast Socks; and Royal Velvet with Qingdao Hongfang.
Trending on TTPM: Cinderella Movie Products
TTPM is showcasing what’s trending from Cinderella, which opened on Friday (March 13). The Disney film took in an estimated $70 million domestically over the weekend.