Chinese e-commerce giant Alibaba’s movie arm has bought a minority stake in Amblin Entertainment in a move that will give Steven Spielberg’s film production company ticketing support in China.
The move was announced as part of a strategic partnership to co-produce and finance films for global and Chinese audiences.
Alibaba Pictures and Spielberg’s company will also collaborate on the marketing, distribution and merchandising of Amblin Partners films in China.
Hollywood films imported under the revenue sharing quota system are currently only distributed by state-owned enterprises China Film Group or Huaxia Distribution. But as the marketing, distribution and merchandising partner, it can offer Amblin titles support ranging from digital marketing, online ticketing and cinema services to e-commerce.
“We are proud and excited that such a valued company as Alibaba Pictures is joining with our other highly-respected partners, Reliance Entertainment, Participant Media and Entertainment One, in building our growth and strengthening our company even further,” said Spielberg, director of films such as Jaws, Raiders of the Lost Ark and Schindler’s List, in a statement.
Shao Xiaofeng, chairman of Alibaba Pictures, said: “This partnership is the first of its kind for both Amblin Partners and Alibaba Pictures and marks an important milestone in our globalisation strategy to reach Chinese and global audiences alike. We will also leverage Alibaba Group’s ecosystem as a channel for Amblin Partners’ films to reach hundreds of millions of Chinese consumers.”
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