When Chen Zhixi took the helm of Wanda Film as chairwoman in early 2024, she wasn’t just stepping into a leadership role — she was stepping into a legacy. But the actress-turned-producer had a singular question in mind: Why hasn’t the flavor of cinema — quite literally — changed in 20 years?
“I asked my team, ‘Why are our cinemas still selling the same popcorn as two decades ago?’” Chen recalls. “Consumers have been patient and loyal, but it’s time we give them more — more choices, better experiences, greater emotional value.”
Seventeen months into her tenure, Chen is steering Wanda Film — owners of one of China’s largest cinema chains — into bold, diversified territory. The company’s latest strategic pivot, dubbed the “Super Entertainment Verse,” was unveiled this week in Shanghai. Designed to reimagine the cinema as a hub of lifestyle and leisure, the initiative reflects Chen’s broader mission: redefining what it means to go to the movies in an era dominated by streaming and mobile media.
A New Cinematic Worldview
Structured around a “1+2+5” framework, the Super Entertainment Verse strategy includes one overarching concept (the “verse”), two market tracks (domestic and international) and Wanda Film’s five core business areas: cinema exhibition, film and TV production, strategic investments, the toy and IP division Ying Shi Guang and online gaming.
“The term ‘Super Entertainment Verse’ might sound abstract,” Chen says, “but it’s really about a worldview — a fully immersive entertainment lifestyle. We will offer VR, AI, and we will include our self-made brands, such as snacks, offline leisure activities, home furnishings and all these things that add value to life. People can not only watch films, they can have great food, they can have fun, they can enjoy life.”
Under Chen’s direction, Wanda Film plans to introduce self-developed brands and services across its 700-plus Wanda Cinema locations in China, which collectively account for more than 15 percent of the domestic market and house more than 6,100 screens. The aim: elevate the moviegoing experience far beyond the screen.
Reinventing the Multiplex
Among the most concrete upgrades in the pipeline is a new cinema star-ranking system — a hotel-style guide to help audiences better understand the quality of their theater experience before stepping in the door. It’s one of several moves meant to modernize an industry Chen believes has clung too tightly to outdated models.
“Many years ago, all we had to watch were black-and-white televisions but now we have streamers, we have all these apps when we want to find content, and all these things can be down-loaded onto our TVs,” says Chen. “Personal computers were originally used for very basic programs and for education and today they are used for every part of our lives whether that be work, learning or entertainment. But over that time, whether it be in China or the world, the cinema industry has stuck to a traditional model. What we are doing is thinking of ways to break the traditional way and to make our cinemas offer more to the consumers.”
To bolster non-box office revenue, Wanda Film has also begun integrating lifestyle retail directly into its cinema complexes. A prime example is its investment in LuckHaHa, a coconut water brand with ambitious retail aspirations. The goal is to open 308 LuckHaHa stores inside Wanda theaters by year’s end — part of a broader plan to reach 1,000 stores nationwide.
“It is possible to incubate super brands in such an environment,” Chen notes. “We hope that these brands can grow not only in our Super Entertainment Verse, but also independently outside the theater environment.”
Gaming, Concerts and a Global Play
Wanda Film has also begun exploring crossover opportunities in live entertainment and gaming. One standout initiative involved a collaboration with the blockbuster gaming franchise Genshin Impact, which generated an impressive RMB 64 million ($8.8 million) in gross merchandise volume through an in-theater cosplay and fan event.
“[Gamers] do not have an appropriate place to meet,” says Chen. “So, through this event, we proved that high-net-worth gamers who love … cosplay on the internet genuinely enjoy having such a gathering at the cinema, playing together, and meeting each other.”
Globally, Wanda Film is leveraging its ownership of Hoyts, the second-largest cinema chain in Australia and New Zealand, to test-drive some of its new ideas abroad. With a 28 percent market share across Australasia and control of advertising powerhouse Val Morgan (97 percent share), Wanda is uniquely positioned to export Chinese brands and culture — and to import a new standard for theatrical experiences.
“We can introduce Chinese brands to Australasia and can introduce Chinese films to be played and broadcast in Australasia,” explains Chen
From Onscreen to the C-Suite
Chen’s journey from on-screen talent to industry powerhouse is emblematic of the very transformation she’s leading at Wanda Film. After starring in hits like Lost in Thailand and Miss Unlucky, she pivoted to producing (Hello Mr. Billionaire, Goodbye Mr. Loser) and later served nearly a decade as president of Shanghai Ruyi Television. Her appointment marked a definitive shift in Wanda Film’s trajectory, especially following its move from real estate giant Dalian Wanda Group to streaming and content-focused China Ruyi Holdings.
Now, as she looks to redefine the future of cinema, Chen is clear-eyed about what’s at stake.
“We need to think about what we can do with our theaters,” says Chen. “We need to stimulate and increase the non-box office revenue in the theater. We can’t only stay loyal to the traditional ways. Otherwise, we are going to lose the young generation.”