After getting into the movie business in 1994 with Street Fighter: The Movie, a $35 million production starring Jean Claude Van Damme and Raul Julia that was completely funded by Capcom, the Japanese game publisher exited the movie industry. Street Fighter earned only $33 million in the U.S., although it did go on to gross another $66 million overseas. The film was panned by film critics and gamers alike.

Capcom then enlisted its popular Resident Evil franchise to Impact Pictures in 2001. The collaboration was funded by Sony Pictures and the $33 million movie, released in 2002, went on to earn $40 million in the U.S. and an additional $62 million overseas. That opened up the second most successful franchise for Sony Pictures behind Spider-Man. Resident Evil: Apocalypse, at a budget of $45 million, took home $129 million in global box office, paving the way for Resident Evil: Afterlife, which is slated to open September 2007.

With the success of Resident Evil and the 20th Anniversary of the Street Fighter game approaching in 2008, Capcom has decided to partner with Hyde Park Entertainment on a new Street Fighter film franchise. It's part of a multi-platform approach that will see new games, the film, a potential TV series and other Street Fighter entities being released in 2008.

Charles Bellfield, the new head of marketing at Capcom (whom we interviewed recently about the closure of Clover Studios), took some time out of his busy schedule to talk about Street Fighter and the convergence of Hollywood and videogames.

GameDaily BIZ: How is the new Street Fighter film different from what Capcom did back in 1994?

Charles Bellfield: What we're announcing here is a movie based around a character, so it gives more story line than the actual movie project in the past which was a general Street Fighter franchise. This is a far more character-based and story-based film that we're working with Hyde Park in developing. Chung Li is one of the main characters and she's one of the most popular characters in the U.S. and also appeals to the Western audience. Going forward, largely because of the reputation of videogames going to movies, having a more direct input into the creation of the movie experience is important in managing Capcom's brands. We want to build a strong franchise successful in a different medium like movies, rather than just handing over our IP to other people to develop movie franchises.

BIZ: That's a different approach than Capcom has taken with its successful Resident Evil franchise, which has had films licensed by Impact Pictures and funded by Sony Pictures.

CB: Yes and no. Impact Pictures has had close collaboration with Capcom on Resident Evil. It's an interesting model as a whole in the debate of videogames and movies. How many people actually bridged this transition? I think you can say the first Tomb Raider movie did, whether the second one did is up to debate, and whether anyone else has done it in the meantime is questionable at best. Capcom does see itself as different from its competitors in terms of being heavily involved in each of its franchises when they go to the big screen or the small screen. Resident Evil was a collaboration from both sides. I think this is a further extension, as we have a closer relationship with the production company, Hyde Park Entertainment.

BIZ: What role will Capcom play in this new deal with Hyde Park Entertainment?

CB: Capcom, as a joint-venture, will help create, produce and fund the movie. We don't want to hand over the IPs to an independent producer or production company. This is all about keeping the Street Fighter franchise true and authentic to the core consumer, but leveraging the understanding that this is a different medium and we do need other partners on board to deliver to this medium. We do want to be active partners involved from the beginning of the conception of the idea to the marketing of the final product.