The Chinese billionaire real estate mogul Zhang Xin has made an undisclosed investment in arthouse distributor and global streamer Mubi through her New York film company Closer Media, Mubi said Friday. Zhang will also take a seat on Mubi’s board of directors.
“We are thrilled to welcome Zhang Xin to our board of directors,” said Mubi founder and CEO Efe Cakarel. “She is an exceptional leader who has built an incredible company from the ground up, demonstrating unparalleled vision and resilience. I deeply admire her, and I personally look forward to learning from her expertise, strategic insight, and entrepreneurial spirit as we continue to grow and innovate.”
After making her fortune, and reshaping the Beijing and Shanghai skyline with real estate group SOHO China, which she co-founded with her husband, Pan Shiyi, Zhang shifted gears in 2022, stepping down as SOHO CEO and launching Manhattan-based film production and financing group Closer Media. Closer’s projects include the Tony Goldwyn-directed Ezra, starring Bobby Cannavale, Robert De Niro, and Rose Byrne; Alex Gibney’s Elon Musk documentary Musk and The Monk and the Gun from Oscar-nominated Bhutanese writer-director Pawo Choyning Dorji.
Zhang called her investment in Mubi an opportunity “to be involved in this innovative business right at the forefront of the rapidly evolving film industry. I am excited about Mubi’s visionary approach to bringing high-quality content to global audiences, and I look forward to being a part of the company’s growth.”
Cakarel launched Mubi as a streaming service in 2007, focusing on international arthouse movies but in recent years the company has increasingly pushed into the theatrical business. It handled the U.S. release of Coralie Fargeat’s body horror satire The Substance, which has earned more than $16 million at the domestic box office. Other recent releases include Sofia Coppola’s Priscilla, Andrea
Arnold’s Bird, and Wim Wenders’ Perfect Days.
Upcoming productions include Kelly Reichardt’s The Mastermind starring Josh O’Connor, and the co-production Father Mother Sister Brother from director Jim Jarmusch starring Adam Driver, Charlotte Rampling, Cate Blanchett, and Vicky Krieps.