Mahua FunAge, China’s most popular comedy brand, is best known for its breakout feature in the 2015 film Goodbye Mr. Loser, but its journey began much earlier, in 2003. The troupe pioneered the concept of “New Year’s stage plays” and has since produced nearly 100 original productions. Over time, it expanded into five sectors: film, live performances, talent management, cinema distribution, and cultural tourism, becoming one of China’s most commercially-valuable entertainment brands.
Much like Broadway and SNL (Saturday Night Live) in the U.S., spans multiple entertainment platforms, blending comedy, theatrical performance, and digital media. In recent years, it has shifted focus to live experiences, launching innovations like “Mahua Improv“, which has become a cultural landmark in Beijing.
Ma Yueshu, General Manager of Mahua FunAge’s subsidiary Mahua Improv, recognized the potential of younger audiences who are eager to spend on immersive entertainment. She made Mahua Improv profitable in under a year and launched The Whole Comedy, which sold out and received rave reviews.
Ma emphasizes the importance of continuous learning and market insight. Hence, she is currently pursuing an MBA at CKGSB to deepen her cross-industry knowledge. She hopes to drive Mahua FunAge’s innovation in China’s entertainment landscape, setting new standards for its young, digital-first audience.
Stay Focused and Success Will Follow
Ma Yueshu’s career has been defined by two central themes: “cross-industry innovation” and “drive for excellence.” From her early success as a model student and award-winning commercial real estate and marketing professional, she has consistently excelled. Yet, Ma attributes her success not to being goal-driven, but to her focus and dedication.
“When you are focused and immerse yourself, results naturally follow,” she says.
This approach led her to Mahua FunAge, where she transformed Mahua Improv into a profitable venture and continues to drive innovation.
Joining Mahua FunAge in 2017, Ma first contributed to the company’s theater chain, forging partnerships with top-tier cities. She faced a key challenge, however, in making Mahua Improv more widely accepted in China, because it struggled with recognition since its launch in 2015. With a keen understanding of the market, Ma revamped the business model, localized it, and successfully made it profitable within a year. She introduced an interactive experience with ice-breaking games, audience participation, and showcasing the practical value of improv training, helping Mahua Improv gain traction.
Capture the Youth to Dominate the Market
As Mahua FunAge’s success grew, Ma turned her attention to new innovations. Recognizing that young audiences wanted to break from traditional performance models, she launched The Heart Stealing Dinner in 2019—an immersive comedy experience that combined dining and interactive theater. Other cross-industry ventures like “Stage One Music-Theater Themed Bar” followed, receiving positive feedback. Her major innovation, however, came in 2022, when Mahua FunAge opened Flower World, an immersive performance space. It became an entertainment landmark in Beijing and marked Mahua FunAge’s first self-operated venue. Now, the company runs over 40 such spaces across China, a testament to Ma’s vision.
The key to Mahua FunAge’s success, according to Ma, is engaging with audiences in meaningful ways.
“Improv is flexible, immersive, and appeals to young audiences. It deserves more attention as its market potential is huge,” Ma emphasized.
By interacting directly with the audience, the company gains valuable insights into their preferences, helping create offerings that resonate with young people. In 2023, Mahua FunAge staged over 12,000 performances, attracting more than 10 million ticket buyers, 80% of whom were between the ages of 20-39, demonstrating the effectiveness of their youth-focused approach.
Breaking Free from The Grind
Despite the challenges of an ever-evolving market, Ma remains undaunted. She recognizes the need for a solid foundation in business strategy to continue her innovative efforts, which led her to pursue an MBA at Cheung Kong Graduate School of Business. Ma’s connection to the school goes back to her work with Mahua Improv, where she collaborated with the faculty and students. Her decision to return to school was further inspired by Xie Lingjue, a 2022 MBA graduate and Mahua FunAge’s Vice President of Film.
The MBA journey has reinvigorated Ma, reminding her of the excitement of starting a journey and being back in the classroom. In fact, her favorite question from her MBA interview was: “What’s next for market expansion? Is there a ceiling?” Ma is eager to address this through her work at Mahua FunAge, pushing the boundaries of what’s possible in entertainment.
Ma’s leadership style reflects her belief in maintaining work-life balance. At work, she balances efficiency, team trust, and self-motivation.
“Balancing work and life, while continuing to grow freely, is a double blessing.” she says.
Recently, Ma and her team launched The Whole Comedy, inspired by the variety show Comedy Battle. The initial performances sold out, proving the potential for new, engaging content. Looking ahead, Ma plans to expand this project across Mahua FunAge theaters in China’s major cities, continuing to innovate and bring joy to young people.
Ma Yueshu’s vision for Mahua FunAge is to build a creative ecosystem that will continue to grow and flourish, bringing joy to audiences across China. She believes that by staying focused on the audience and keeping an open mind to trying new ways, Mahua FunAge will continue to innovate, achieve success, and make a meaningful impact on China’s entertainment landscape.
