Will Smith's Red Pearl To Distribute Films In Middle East
Will Smith is taking his knack for success overseas, with a new venture involving his production company Overbrook Entertainment.
According to Variety, Overbrook has joined forces with D Media to launch Red Pearl Pictures, a new company that will distribute Western films throughout the Middle East.
Red Pearl joins a number of key Middle Eastern distributors that have existing deals with the U.S. studios and independents.
Red Pearl plans to have offices in Los Angeles and the Middle East in an effort to tap into the increased demand for entertainment in markets like Qatar, Abu Dhabi, Dubai, Saudi Arabia and Egypt.
No other details concerning the new company were revealed by Overbrook and D Media.
Founded by Smith, Overbrook Entertainment is known for producing music, films, and television shows.
Movies credited to the company include the rapper/actors summer blockbuster Hancock as well as The Secret Life of Bees, Lakeview Terrace, I Am Legend and ATL, which stars rapper T.I.
Smith, along with Overbrook co-founder James Lassiter and President Ken Stovitz, will have his work cut out for him to establish Red Pearls presence in the Middle East.
The creation of the company comes as Hollywood struggles to find its place within the region.
While some 30 million people comprise the population of the Arab world, factors such as censorship, piracy and underdeveloped infrastructure have become obstacles in distributors and exhibitors taking advantage of the Middle East's true box office potential.
Although Hancock grossed approximately $4.5 million in the Arab world, the amount was considered to be small compared to money the film made in other regions.