Hollywood success reflects a century of resourceful hits and misses, bouts of outright titillation, tireless trial and error, constant experimentation, and unplanned, organic growth.

The marriage of Wanda and Legendary may indeed boost the fortunes of both companies, especially if investor excitement reaches the threshold of a stock listing in Hong Kong or Shenzhen. Legendary has been keen on the China market for some time now, its ambitions best expressed in the long-delayed but evocatively titled film being produced by its China spin-off production arm, Legendary East.

The Great Wall, helmed by iconic director Zhang Yimou, is due for release this year. It's not immediately clear how an action picture starring US star Matt Damon that sees him battle with computer-generated dragons against the backdrop of a mock Great Wall will contribute to boosting China's standing in the world, but the mechanics and muscle behind the flick will ensure massive publicity and a wide opening in Wanda theaters everywhere.

Exhibiting films is both simple and utterly opaque. Theaters thrive on selling tickets and popcorn, but what makes people want to go to a movie?

Hollywood is so ruthless in rewarding success and punishing failure that even the best directors are only as good as their last film. Today's toast of the town is only a flop away from losing all cachet.