Disney Is About To Enter China's $180 Billion Media Industry

Bloomberg's Tom Mackenzie interviewed Bob Iger on Walt Disney Co (NYSE: DIS)'s plan to expand company-made movies to China. Iger said at least one film will be made in China within the next year, and the company plans to accelerate forward, taking advantage of "the soon to be world's largest film market."

"We have a lot of development activity right now to make Disney-branded films in China," the Disney CEO stated. The entertainment company has already built its first resort in Shanghai, officially scheduled to open June 12.

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Iger said Disney was "very along on this process, including developing ideas, concepts for films and identifying talent to make those films."

It's a challenging task to capture a significant amount of China's $180 billion media and entertainment industry, said Mackenzie. In order to complete the task, Disney signed a multi-year deal "with state-owned Shanghai Media Group Pictures to co-develop Disney-branded movies for China and other markets," said Mackenzie.