Time to present SMARTKETING’s annual Gretzky award. The first one went to Nestlé for their future Global R&D investments. Last year, Russian technology guru Yuri Milner was the recipient. This year the award goes to the Wang Jianlin. Who?
Mr. Wang is considered one of China’s most successful real estate tycoons. His empire, estimated at $17 billion includes huge commercial property developments, hotels and resorts, a large theme park, a film/television production company and the largest cinema network in Asia. Mr. Wang is just getting started.
Back in late spring, his company, the Dalian Wanda Group agreed to acquire AMC, the second largest North American movie theater company. The acquisition deal was valued at $600 million plus included the absorption of $2 billion in debt. Pending U.S. regulatory approval, Mr. Wang’s company will become the world’s largest theater group. Ironic that a Chinese company will have a strong influence in the U.S. film business given Hollywood has been eyeing China as a new film market thanks to sluggish domestic box office receipts. China is the world’s second largest market with more than $2 billion in ticket sales.
Mr. Wang firmly believes in setting aggressive goals and executing strategy. The company experienced 30 percent growth this past year and projects their overall revenue by 2015 will be $30 billion. The Wanda Group’s long-term entertainment goal is to own 20 percent of the world theater market by 2020.
Congratulations Mr. Wang, you are definitely skating to where the puck is going to be. You might want to consider buying a NHL hockey team as a side venture in the process.