Le Vision Pictures plans to release 15 movies this year

Le Vision Pictures (Beijing) Co Ltd, one of China's leading private film companies, announced on Thursday that it plans to release 15 movies this year with the aim of generating 3 billion yuan ($489 million) in box office revenues.

In 2013, it released nine films, generating more than 1 billion yuan in ticket sales, ranking it third among private movie companies in China.

China's national box office reached nearly 21.8 billion yuan last year, increasing 27.5 percent year-on-year.

The company also announced its development strategy for the next three years in which it will transform from a traditional movie company to an Internet company.

"The core of this transformation lies in converting audience into subscribers," said Zhang Zhao, CEO of Le Vision Pictures.

huangying@chinadaily.com.cn