Tencent, the Chinese multinational entertainment conglomerate, Dec. 5 announced a partnership and co-financing deal with Paramount Pictures for the studio’s upcoming Bumblebee theatrical release, in addition to next year’s Top Gun sequel featuring Tom Cruise.
Tencent, which operates numerous entertainment ventures in China, including Netflix knockoff Tencent Video, separately filed a $1.4 billion IPO for its Tencent Music branded streaming service.
As an investor and co-marketing partner, Tencent Pictures will assist with the marketing and promotions of Bumblebee in mainland China. Hasbro, creator and owner of the Transformers brand on which the film franchise is based, is also a co-financier on Bumblebee.
Starring Hailee Steinfeld (Pitch Perfect 3, The Edge of Seventeen), John Cena (Blockers, Trainwreck), and Jorge Lendeborg Jr. (Love, Simon, Spiderman: Homecoming), Bumblebee is an Autobot character set in 1987 as a prequel to the Transformers franchise.
Bumblebee represents Tencent’s first international project after Warner Bros.’ Venom and its first collaboration with Paramount. Other Hollywood domestic collaborations include Warcraft, Kong: Skull Island, Wonder Woman, La La Land and Ready Player One.
“Tencent’s involvement in many high-profile international projects has demonstrated its strong capacity in marketing campaigns in China,” Jim Gianopulos, CEO, Paramount Pictures, said in a statement.