Overview

• Zhang Xin, Chinese billionaire and founder of Closer Media, has joined the board of directors at global streaming and distribution company Mubi.
• Closer Media, Zhang's New York-based film production and financing group, has made an undisclosed investment in Mubi as part of this collaboration.
• Zhang previously co-founded SOHO China, a major real estate firm, and has transitioned into the media industry with a focus on film production and financing.
• Mubi, founded in 2007, has evolved from a streaming service to a full-fledged production and distribution company, with recent successes like Coralie Fargeat’s 'The Substance,' which grossed over $75 million globally.
• The company is expanding its slate with high-profile projects from renowned filmmakers, including Jim Jarmusch, Kelly Reichardt, and Luca Guadagnino, while also running a cinema app, podcasts, and a publishing arm.