Hong Kong-based games company Fifth Journey has signed strategic partnerships to develop mobile games, interactive entertainment and virtual reality content with Universal Pictures, Lionsgate and MGM.
The three studios are taking an equity stake in the start-up, which will develop Asia-focused content based on their intellectual property. Although China’s box office is booming, US studios have struggled to make much headway in the mobile games sector.
The company also has the ability to provide mobile streaming, VOD and ecommerce related to its games.
Fifth Journey was founded by former Universal Pictures and Electronic Arts executive Eric Tan and LucasArts veteran Craig Derrick. The management team’s previous projects include top-grossing comedy game, Family Guy: The Quest For Stuff, and content for Star Wars, Marvel and DC Comics.
Before the deal with the three studios, the company closed a $2m round of seed financing and announced a partnership with Lionsgate and Millennium Films to develop a mobile game for The Expendables.
“Asia is an enormous opportunity and challenge for Hollywood,” said Tan. “So is building a great film franchise in this on demand world. We built a company to solve some of Hollywood’s most pressing needs and these partnerships are a huge step forward.”
While working for Gameloft, Tan oversaw publishing for a slate of Marvel games in China as well as the China release of Universal and Gameloft’s Despicable Me: Minion Rush.