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Friday, June 25, 2021 4:27:03 PM
"Star East's Owners Seek to Recreate Hollywood Studio System on the Web
HONG KONG -- A radio commentator, a prolific B-movie director and a tough wheeler-dealer with roots in the construction trade have a plan to revive Hong Kong's flagging entertainment industry: Repackage it as an Internet studio.
Like the Hollywood studios in their heyday, this studio aims to control a stable of stars and all their performances, online and off, through two sister companies, Star East Holdings Ltd. and its newly listed Internet spinoff, Stareastnet.com Corp.
Star East, an upstart with powerful backers, aspires to dominate all the "bricks and clicks" of entertainment in Asia: managing celebrities' careers in exchange for stock options, producing television serials and movies, selling show business merchandise over the Internet, and booking performers at Star East's chain of nightclubs. And Web sites -- including sites for Internet-enabled telephones -- for Chinese entertainers in Taiwan, Singapore, Malaysia and the U.S. are under development.
Turning Stars Into Gold
"The goal is always to utilize major stars to make money," says Olivia Siu, Stareastnet's chief strategy and investment officer and a former Merrill Lynch derivative-securities trader."
https://www.wsj.com/articles/SB962823278132092227
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