Nina Yang Bongiovi, the producer behind critically acclaimed options similar to Fruitvale Station and Sorry to Hassle You and the Epix crime drama Godfather of Harlem, is collaborating with Twitch co-founder Kevin Lin and Gold Home chairman Bing Chen to launch AUM Group, a multicultural movie fund. Additionally on board for this enterprise are MNM Artistic’s Michael Ok. Shen, Silicon Valley vets Jason A. Lin and Maggie Hsu in addition to XRM Media’s Michael Y. Chow, who can also be the enterprise companion of Bongiovi and Forest Whitaker’s Important Productions.
(L-R) Producer Nina Yang Bongiovi, Twitch Co-Founder Kevin Lin and Gold Home Chairman Bing Chen
With a few of the high names in movie and tech main the cost, the AUM Group was created to develop and purchase artistic IP, finance multicultural movement footage, and put money into the subsequent era of storytellers. AUM Group led the financing of Rebecca Corridor’s directorial debut Passing starring Tessa Thompson, Ruth Negga, Andre Holland, and Alexander Skarsgard. Additionally written by Corridor, the movie is predicated on Nella Larsen’s novel and tells the story of two African-American girls, every of whom can “cross” as white however select to reside on reverse sides of the colour line in 1928 Harlem. The movie is on-brand for AUM because it explores the sophisticated intersection of race, class and tradition via a suspense-thriller.
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“Forest Whitaker and I’ve been backed by my Asian American companions in main the financing on each Important Productions’ challenge since Fruitvale Station via Sorry to Hassle You when nobody else within the market was keen to take the preliminary danger,” stated Bongiovi. “Partnering with an all-star workforce of enterprise leaders in AUM Group is the subsequent pure evolution in persevering with to shift tradition, amplify essential dialogue, and elevate industrial alternatives.”
The launch of AUM comes at a time when there’s a demand for inclusive narratives — and contemplating Latinx, Asian, and African communities characterize half of home field workplace audiences at the moment, it’s a good transfer for enterprise as these multicultural diasporas are on their solution to turning into the bulk in 2040. So as to add to that Asian and Latinx diasporas are the fastest-growing populations within the nation. Within the multitude of stories which have been printed, together with UCLA’s Hollywood Range Report, information means that if greater than 30% of the solid is various, the movie performs higher at each finances stage.
USC Annenberg and Time’s Up launched a research titled “Inclusion at Movie Festivals” and located that illustration has elevated at main festivals however the numbers don’t mirror the society we reside in. Solely 35% of administrators come from underrepresented racial/ethnic teams (i.e. a ratio of 1.9 white administrators to each one director of coloration) and 25% from girls. So as to add to that, usually talking, options with girls of coloration because the lead have been the least more likely to be launched and supported by producers and distributors. In 2019, illustration might have been up, however there was a low employment of minorities in each class: 27.6% of movie leads, 14.four% of administrators, 13.9% of writers, 9% of studio chiefs, amongst others. AUM group seems to shift all of this with their forthcoming movie slate which shall be unveiled on a film-by-film foundation.