LOS ANGELES, Sept. 14, 2016 /PRNewswire/ -- LeEco today announced the acquisition of Dichotomy Creative Group, further strengthening its commitment to premium global content. Dichotomy Founder and CEO Adam Goodman will bring his full staff and other Dichotomy assets to the company. Goodman will oversee Le Vision Entertainment (LeVE) and report to LeEco Vice Chairman Zhang Zhao.
As president of LeVE, Goodman will be responsible for English-language original entertainment content for LeEco's next-generation audiences. LeVE will deliver and shape innovative and cutting edge content, utilizing its diverse range of distribution platforms across LeEco's content divisions around the world, including markets like China, India, and Russia, among others.
Under Goodman's leadership, LeVE will employ a filmmaking strategy that mirrors Dichotomy's approach to producing tentpole films for global audiences, while also utilizing the Dichotomy Micro Studios banner in the lucrative micro-budget film business. The company will aggressively pursue and acquire new IP, nurture emerging voices, and develop material for a global audience. LeVE will be in a position to fully finance and co-produce films, aligning with studio partners on appropriate distribution, slate financing and/or co-financing opportunities. Goodman will also oversee television, VR and digital for LeVE.
"It was critical for us to find a partner who could honor and respect what we love about Hollywood, and at the same time, not be afraid to challenge conventions. I am very grateful for the chance to collaborate with Mr. Zhang and LeEco," said Adam Goodman. "First and foremost, we were looking for a next-generation company with a platform that was not limited to traditional distribution and where a budget would never be an obstacle to creating an engaging story."
LeEco is a leading global technology company that creates breakthrough experiences for consumers and the technology and entertainment industries with an integrated ecosystem that spans smartphones, TVs, transportation, sports, film, entertainment, and more. LeVP and LeVE are the content production engine of LeEco Business ecosystem.
Goodman is a key hire for LeEco in its strategy to recruit the world's most sought-after leaders to ignite LeEco's ecosystem across mobile, smart TV, virtual reality, automotive, sports, entertainment and other initiatives globally.
Goodman launched Dichotomy in fall 2015 following more than a decade running the film divisions for both DreamWorks Studios and Paramount Pictures, leading both companies to their highest grossing years on record in 2007 and 2011. Goodman helped launch or grow some of the biggest global film franchises including, "Transformers," "Mission Impossible," "Teenage Mutant Ninja Turtles," "G.I. Joe," "Star Trek," "Jackass," "SpongeBob Squarepants," "World War Z," and "Anchorman." Under Mr. Goodman's leadership, each of those franchises had their most successful installments. He also helped create the incredibly profitable micro-budget business with groundbreaking successes like, "The Paranormal Activity" franchise, "The Devil Inside," and "Bad Grandpa." Following the enormous success of the first "Paranormal Activity," Goodman spearheaded Paramount's micro-budget division, Insurge Pictures, and introduced its label with the $100 million dollar plus grossing film, "Justin Bieber: Never Say Never." Goodman also created Paramount's in-house animation division, which launched its first film, "Spongebob 2: Sponge Out of Water" to a gross of over $300 million worldwide.
Zhang Zhao has had a long career in the globalization of the Chinese film industry and has founded two of China's biggest private-sector studios, Enlight Pictures and Le Vision Pictures. Le Vision Pictures produced China's all-time highest grossing film franchise, "Tiny Times" with a huge, record-breaking 1.8 billion RMB at the box office as a domestic production; "Boonie Bears" is claimed to be the best homemade children's animation movie with the highest box office record; the blockbuster film "The Expendables," established a box office record of domestic non-differential movies. He is currently in production on the highest budget U.S.-China co-production to date, Zhang Yimou's "The Great Wall" starring Matt Damon with Legendary East and Universal Pictures.
Zhao Zhang also coined the "Great 2" (G2) strategy, which combines film equity investments, Chinese distribution, and global production capabilities to bring greater value to Chinese and U.S. audiences. The Hollywood Reporter called him the flag bearer of the "renaissance" of China's film industry. Last year, Zhao Zhang received the Industry Leadership Award at the sixth annual Asia Society U.S. China Film Summit in Los Angeles, where he was recognized for his tremendous contributions to the global film and entertainment industry.
LeEco is a global internet company that seamlessly blends devices, content, applications and distribution into a first-of-its kind ecosystem, delivering extraordinary experiences for millions of customers. Its ecosystem spans film, TV, sports and live entertainment across an array of premium consumer electronics and lifestyle products — including mobile, TV, VR, automotive and smart bicycles. LeEco was named one of Fast Company's 2016 "Most Innovative Companies."
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Dichotomy MicroStudios is led by founder Adam Goodman, former President of the Paramount Pictures' Motion Pictures Group and President of Production at DreamWorks. Dichotomy aims to disrupt traditional production by allowing filmmakers to iterate their storytelling in an approach that more closely resembles the animation process. The new entity will finance feature-length projects across all genres and distribute on a wide range of platforms.
CONTACT: For LeEco: Mandi Hefflinger, Zeno Group, 310-566-3986, ext. 5660, Mandi.Hefflinger@zenogroup.com; For Adam Goodman: Matthew Hiltzik, Hiltzik Strategies, 212-430-5054, firstname.lastname@example.org