Santa Monica, California-based Lionsgate, global content leader whose feature films, television programming and digital content touch consumers around the world, hopes to tap specific international markets with a new partnership: Globalgate Entertainment. This initiative teams the studio with executives Paul Presburger, William Pfeiffer and Clifford Werber.
Globalgate plans to identify and produce films in local languages that consortium partners will distribute and co-finance via Globalgate Fund, and it expects to form alliances soon in China, India, and other major markets, reports Deadline. It will open “an opportunity to grow our presence in local-language films, leverage the content in our library and further mine exciting new IP and talent around the world,” Lionsgate CEO Jon Feltheimer says.
“Local language films are competing successfully with Hollywood studio releases in market after market, representing a large and growing share of the box office in key territories around the world,” Lionsgate’s three partners said in a joint statement.