China is considered by many as a very important market with a huge potential of growth. Thus, it is hardy surprising that ‘China Arts and Entertainment Group’ (CAEG) and IMG Artists announced a new joint venture called Sino America Global Entertainment (SAGE) – effectively establishing the largest private, performing arts partnership between the United States and China. The official signing was overseen by Liu Yandong, Vice Premier of the State Council, and Ding Wei, Vice Minister of the Ministry of Culture, during a Symposium in New York attended by dignitaries and executives from the leading arts, education and culture institutions in New York held at Carnegie Hall.
China Arts and Entertainment Group (CAEG) is the largest entertainment and arts exhibition company of its kind in China, with a global business in stage entertainment and art exhibitions that represents 90% of China’s overseas commercial performance business. IMG Artists represents over 500 of the world’s leading artists and is the global leader in the performing arts management, tours, festivals, events and consulting business.
SAGE heralds a new era for US-Sino cooperation in performing arts, and will offer significant financial, logistical and resource advantages for both countries. Through an investment of several hundred million dollars, SAGE will reduce inefficiencies and build new platforms for global entertainment and performing arts initiatives including international arts festivals, talent exchange, sharing of local market expertise and more.
