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Chenxi “Tracy” Liang, CPA, has over seven years of experience in contract compliance audits and forensic investigations. She specializes in performing audits of the production and distribution of motion picture and television programs on behalf of investors and third-party participants, as well as royalty audits with focus on video games, IP licensing and music. Tracy has also provided consulting services in entertainment litigation matters. She has authored several blogs for GHJ’s Media Clips blog.
Prior to joining Green Hasson Janks in 2014, Tracy worked as a royalty auditor at Hurewitz, Boschan & Co., LLP.
Tracy is a licensed CPA in the state of California and is a member of the California Society of CPAs. Tracy received her bachelor’s degree in accounting from Shanghai University of Finance and Economics and her master’s degree in accountancy from University of Illinois at Urbana, Champaign. Tracy is also fluent in Mandarin Chinese.
The entertainment industry has been affected by #COVID19 just like every other industry. A newly released book, Movie Money: Understanding Hollywood’s (Creative) Accounting Practices, authored by GHJ Entertainment Leaders Partner Steven Sills, Principal Peter Klass and Manager Tracy Liang, takes an in-depth look at the accounting side of the entertainment industry, provides insight into the arcane world of profit participations and discusses how streaming revenues impact reporting to the […]
Green Hasson Janks is pleased to announce Partner Steve Sills, Principal Peter Klass and Manager Tracy Liang as authors and contributors in the third edition of Movie Money: Understanding Hollywood's (creative) Accounting Practices. Hollywood and COVID-19 The closure of movie theatres demonstrates the vast impact of the coronavirus outbreak on the film industry. The immediate impact has been to shift the release of new films from theatrical distribution to streaming platforms, such as […]
Green Hasson Janks recently hosted the 2019 HLB Asia Pacific Conference in Los Angeles, marking the first time the conference was hosted in the U.S. HLB is a worldwide network of independent accounting firms and business advisers, with member firms in 150 countries, 25,000 staff including partners in 700 offices worldwide. This year’s conference gathered approximately 100 delegates from HLB member firms that do business across the Asia Pacific region and featured high-profile speakers […]
Intellectual property owners are entitled to financial compensation in exchange for granting rights to licensees. As licensing deals grow, it is important to develop monitoring or audit programs to hold licensees accountable. What is merchandise licensing? Licensing exists in almost every product category that you see in retail stores. The intellectual property (IP) / Copyright owners and/or distributors (e.g., studios, creators, or brand owners, collectively “IP Owner” or “Licensors”) license […]
Hollywood filmmakers are continually searching for ways to promote their films to an international audience. A big focus is on China, the world’s second largest theatrical market. However, the Chinese film market seems to be particularly challenging to understand. One of the latest examples is Star Wars: The Last Jedi, which made only $42 million dollars in China box office, in sharp contrast to its worldwide box office of $1.3 billion dollars. We have also seen other cases, such as Warcraft and […]
China has become the second largest theatrical market since 2012, but when it comes to distributing foreign films in China, Hollywood has not been able to enjoy much of China’s box office success. This lack of success is due to various market-access restrictions, such as the strict quota system and the low revenue-sharing remittance rate. Foreign-produced films are imported into China for theatrical release on either a revenue-sharing basis or a flat-fee basis. As we can see from the chart […]
2015 was a record year for Chinese investments in Hollywood. They have grown rapidly over the past couple of years, and with significant deals such as TIK Films’ 3-year slated deal with Lionsgate, Bona Film Group’s 6-picture deal with 20th Century Fox and Huayi Brothers’ 18-picture deal with STX Entertainment, the Chinese investment market is set to soar to yet another high in 2016. This is in no small part due to the aggregate of $4.7 billion in deals announced in the first half of 2016 (Dalian […]
INTERVIEW WITH: Patrick Sweeney, Esq., (guest blogger from IE Law Group) Patrick Sweeney is one of the leading attorneys in the video game industry, having served both as in-house and external counsel to a variety of companies in his career. In the Q&A below, Patrick shares with our readers his thoughts on current game industry trends and their implications. He also sheds light on some of the most common issues faced by game developers. Q (Tracy Liang): You used to work at Paramount and […]