Alibaba Pictures Explained

Alibaba Pictures Group Limited
Industry:Film
Predecessors:-->
Successors:-->
Founders:-->
Hq Location City:Zhejiang, China
Shanghai
Hq Location Country:China
Hong Kong
Areas Served:-->
Key People:Fan Luyuan (chairman & CEO)
Profit:-->
Profit Year:-->
Owners:-->
Parent:Alibaba Group
Subsid:Amblin Partners (minority stake)
Slogans:-->

Alibaba Pictures Group Limited is a Chinese film company under the Alibaba Group. The film company was formerly ChinaVision Media, of which Alibaba Group bought a majority stake in late 2014. It subsequently was renamed from ChinaVision to Alibaba Pictures Group. By April 2015, it was the largest Chinese film company by worth, with a market value of US$8.77 billion[1] and by June of the same year it was worth US$9.6 billion.[2]

According to researchers, Françoise Paquienséguy and Miao He, there are almost 30 companies, varying from investment groups to media and film studios, under the Alibaba umbrella. “These include, but are not limited to, such leading companies as Youku Tudou Inc., Enlight Media, Huayi Brothers, Bona Film Group, Wasu Media, Sina Weibo, XiamiMusicand Guangzhou Evergrande Taobao Football Club. In addition, Ma Yun also occasionally engages in capital operations, such as establishing Yunhuang and Yunxi Capital…” (Paquienséguy, He).

History

In March 2014, Alibaba Group bought a 60% stake in ChinaVision Media for .[3] Alibaba initially registered a film company in the following April with the name Alibaba Films Group before changing it to Alibaba Pictures Group later in the month. Two heads from ChinaVision were listed as directors of Alibaba Pictures.[4] In June 2014, ChinaVision Media was officially renamed to be Alibaba Pictures Group.[5] The following July, Zhang Qiang resigned as vice president of China Film Group to become the head of Alibaba Pictures.[6] Later in the month, Alibaba Pictures entered agreements with filmmakers and film companies, including director Wong Kar Wai and the Hong Kong-based film production company Block 2.[7]

The company purchased Yueke and at the end of 2015, Taobao Movie and Yulebao.[8] On October 9, 2016, Amblin Partners struck a deal with Alibaba, in which Alibaba acquired a minority equity stake in the company and will handle marketing, distribution, and merchandising of Amblin Partners films in China in addition to co-financing Amblin and DreamWorks films worldwide.[9] [10] As described by the Financial Times, "Amblin Partners and Alibaba Pictures teamed up to "finance, produce, market and distribute films in China and globally." Alibaba Pictures released the projection in February 2017 that its unaudited 2016 losses could be over US$140 million. The company stated the losses resulted from a promotion known as Tao Piao Piao, where theater tickets are subsidized.[11]

In July 2017, Alibaba increased its stake in Tao Piao Piao, an online ticketing platform, from 87.6% to 96.7%, for 1.3 billion yuan.[12]

Alibaba Pictures has become a giant in film production and finance. Its success is not limited just to mainland China. Through its first domestic release See You Tomorrow, the company combined both mainland Chinese and Hong Kong values, reaching both audiences in new ways. The installment also saw “ the ongoing mainlandization of Hong Kong filmmaking practice and the corresponding Hong Kongification of contemporary Chinese popular cinema,” according to Mark Gallagher, author of “Alibaba Goes to the Movies.”

Alibaba Pictures’ mid-2010s expansion was not limited only to Hong Kong however.[13]

2015 saw Alibaba Pictures’ first investment in U.S. cinema, with their financial support of Mission: Impossible - Rogue Nation.

In 2016, Alibaba Group partnered with Steven Spielberg’s Amblin Partners, an American film production company.[14]

The partnership drew international attention, with Hollywood’s highest-grossing director and one of the most active Chinese film studios coming together for production, distribution and financing.

In 2019, Alibaba Pictures financed 23 films, “ accounting for one-fifth of China's total box office,” according to Alizila, an Alibaba news outlet.[15]

At a briefing regarding the partnership in Beijing, Spielberg was quoted by Reuters as saying, “Some of the stories I’m hoping Jack and I can tell in this new partnership between Amblin Partners and Alibaba Pictures will be able to bring Chinese-themed stories to the American audience, and we can do co-productions between our company and your company…” [16]

Alibaba Pictures partnered with California-based STX, an American entertainment company, to bring “Peppa Celebrates Chinese New Year” to American silver screens in 2019.

After a substantial show of interest in the film on social media by Mandarin-speaking audiences STX and Alibaba partnered together for a U.S. release, with the goal of audiences being able to see the film in the States while it was still in theaters in China according to STXfilms chairman Adam Fogelson in Yahoo Finance.[17]

“The increasing appreciation for and interest in Chinese culture, the fact that the story of a family dynamic during the holiday, and the entry point of Peppa, which most American audiences are familiar with, creates a dynamic where there certainly could be — not on the Marvel level of course — broad interest,” said Fogelson, “…Our first goal was to make sure that Mandarin speakers in the U.S. would have access to the film while the movie was playing in China.”

Filmography

Notes and References

  1. Web site: Chinese Media Stocks Stage Major Rally in U.S. and Asian Markets . variety.com . April 9, 2015 . April 14, 2015 . Patrick Frater . November 21, 2018 . https://web.archive.org/web/20181121095208/https://variety.com/2015/biz/asia/chinese-media-stocks-stage-major-rally-in-us-and-asian-markets-1201469237/ . live .
  2. Web site: Is Jack Ma's Alibaba Pictures Really Worth $10 Billion?. Rob Cain. June 7, 2015. June 17, 2015. forbes.com. March 27, 2019. https://web.archive.org/web/20190327123258/https://www.forbes.com/sites/robcain/2015/06/07/is-jack-mas-alibaba-pictures-really-worth-12-billion/. live.
  3. News: Osawa . Juro . Is Alibaba Going Into the Movies? . . May 12, 2014 . January 28, 2015 . September 26, 2019 . https://web.archive.org/web/20190926015246/https://blogs.wsj.com/digits/2014/05/12/is-alibaba-going-into-the-movies/ . live . subscription.
  4. News: Staff . China's Alibaba registers film company in Hong Kong . reuters.com . . May 12, 2014 . January 28, 2015 . March 10, 2016 . https://web.archive.org/web/20160310155505/http://www.reuters.com/article/us-alibaba-group-media-idUSKBN0DS05G20140512 . live .
  5. News: Ying . Huang . Jing . Meng . ChinaVision becoming Alibaba Pictures . . June 3, 2014 . January 28, 2015 . June 11, 2021 . https://web.archive.org/web/20210611122523/http://usa.chinadaily.com.cn/epaper/2014-06/03/content_17559792.htm . live .
  6. News: Chu . Kathy . Alibaba Hires Zhang Qiang to Run Alibaba Pictures Production Company . . July 17, 2014 . January 28, 2015 . June 11, 2021 . https://web.archive.org/web/20210611122521/https://www.wsj.com/articles/alibaba-hires-zhang-qiang-to-run-alibaba-pictures-production-company-1405599185 . live . subscription.
  7. Frater . Patrick . China's Alibaba to Finance Wong Kar Wai Movie Slate . . July 20, 2014 . January 28, 2015 . May 2, 2015 . https://web.archive.org/web/20150502133848/http://variety.com/2014/biz/news/chinas-alibaba-to-finance-wong-kar-wai-movie-slate-exclusive-1201265373/ . live .
  8. Web site: Alibaba Pictures Achieves First Profits. Patrick. Frater. March 29, 2016. March 30, 2016. Variety. June 11, 2021. https://web.archive.org/web/20210611122523/https://variety.com/2016/film/asia/alibaba-pictures-achieves-first-profits-1201741672/. live.
  9. Web site: Steven Spielberg's Amblin Partners Inks Strategic Pact with Alibaba Pictures. 9 October 2016. 9 December 2017. 16 February 2017. https://web.archive.org/web/20170216054908/http://variety.com/2016/film/asia/steven-spielberg-strategic-pact-with-alibaba-pictures-1201883159/. live.
  10. Web site: China's Alibaba Takes Stake in Steven Spielberg's Amblin; Will Team on Global Pics. 9 October 2016. 19 February 2020. 13 May 2021. https://web.archive.org/web/20210513050256/https://deadline.com/2016/10/amblin-alibaba-china-deal-equity-stake-steven-spielberg-marketing-distribution-1201833550/. live.
  11. News: Fei Ju . Sherry . Clover . Charles . April 1, 2017 . China's Hollywood war chest threatened by poor ticket sales . . April 3, 2017. subscription.
  12. News: Alibaba Increases Stake in Online Ticketer Tao Piao Piao CFI. 2017-07-27. China Film Insider. 2018-11-03. en-US. 2021-06-11. https://web.archive.org/web/20210611122530/https://chinafilminsider.com/tao-piao-piao/. live.
  13. Web site: Book Review: Hollywood Made in China. 2018-01-04. China Film Insider. 2020-03-27. 2020-03-27. https://web.archive.org/web/20200327034726/http://chinafilminsider.com/book-review-hollywood-made-in-china/. live.
  14. News: Angeles. Alyssa Abkowitz in Beijing and Erich Schwartzel in Los. Alibaba Goes to Hollywood in Deal With Steven Spielberg's Amblin Partners. 2016-10-10. Wall Street Journal. 2020-03-27. en-US. 0099-9660. 2020-03-27. https://web.archive.org/web/20200327034721/https://www.wsj.com/articles/alibabas-movie-unit-in-deal-with-steven-spielbergs-amblin-partners-1476000828. live. subscription.
  15. Web site: Alibaba Pictures Helps Drive China's Billion-Dollar Box Office in 2019. 2019-12-20. Alizila.com. en-US. 2020-03-27. 2020-03-27. https://web.archive.org/web/20200327034724/https://www.alizila.com/alibaba-pictures-helps-drive-chinas-billion-dollar-box-office-in-2019/. live.
  16. News: Alibaba Pictures, Amblin to co-produce films for global, Chinese audiences. https://web.archive.org/web/20200327034723/https://de.reuters.com/article/us-ali-pictures-amblin-partnership-idUSKCN129072. dead. 2020-03-27. 2016-10-09. Reuters. 2020-03-27. de.
  17. Web site: Exclusive: Alibaba is making a huge play to bring Chinese movies to America. finance.yahoo.com. en-US. 2020-03-27. 2020-03-27. https://web.archive.org/web/20200327034725/https://finance.yahoo.com/news/exclusive-alibaba-making-huge-play-to-bring-chinese-movies-peppa-pig-to-america-200852476.html. live.
  18. Web site: Jaafar . Ali . June 24, 2015 . 'Mission: Impossible – Rogue Nation' To Receive Investment From Alibaba Pictures . August 3, 2015 . . July 31, 2015 . https://web.archive.org/web/20150731215643/http://deadline.com/2015/06/mission-impossible-rogue-nation-alibaba-pictures-paramount-china-1201452851/ . live .
  19. Web site: 'Star Wars', Local-Language & Family Pics Lead; 'Sherlock' Shines In Korea – Intl B.O.. Nancy. Tartaglione. Deadline Hollywood. January 3, 2016. January 4, 2016. January 4, 2016. https://web.archive.org/web/20160104182357/http://deadline.com/2016/01/sherlock-star-wars-the-force-awakens-mojin-checco-zalone-international-box-office-results-1201675349/. live.
  20. Web site: China's Alibaba Pictures Invests in Paramount's 'Teenage Mutant Ninja Turtles 2,' 'Star Trek Beyond'. The Hollywood Reporter. Patrick. Brzeski. April 17, 2016. April 27, 2016. April 25, 2016. https://web.archive.org/web/20160425233327/http://www.hollywoodreporter.com/news/chinas-alibaba-pictures-invests-paramounts-884659. live.
  21. Web site: Alibaba Pictures Plans To Raise $1.6 Billion Through Share Sale. Ali Jaafar. June 4, 2015. June 17, 2015. Deadline Hollywood. June 8, 2015. https://web.archive.org/web/20150608035001/http://deadline.com/2015/06/alibaba-pictures-1-6-billion-share-sale-jack-ma-china-1201437628/. live.
  22. Web site: Film in Production. October 3, 2015. english.entgroup.cn. EntGroup Inc.
  23. Web site: Tartaglione . Nancy . October 12, 2015 . Alibaba Pictures In 'Real' Deal; Pacts For First Korean Film Investment . October 13, 2015 . . May 17, 2022 . https://web.archive.org/web/20220517111940/https://deadline.com/2015/10/alibaba-pictures-real-korean-film-investment-kim-soo-hyun-1201576486/ . live .
  24. Web site: Internet Giants Move From Behind the Camera to Front . Xu Fan (China Daily) . June 18, 2015 . June 19, 2015 . english.entgroup.cn . EntGroup Inc . June 18, 2015 . https://web.archive.org/web/20150618195636/http://english.entgroup.cn/news_detail.aspx?id=3188 . live .
  25. Web site: China's Alibaba Pictures Unveils Development And Production Strategy; Intends To Use Online Dominance To Help Creative Partners. Ali. Jaafar. June 14, 2016. June 16, 2016. Deadline Hollywood. June 15, 2016. https://web.archive.org/web/20160615123156/https://deadline.com/2016/06/alibaba-pictures-shanghai-conference-production-development-strategy-pipeline-paramount-skydance-jack-ma-1201772243/. live.
  26. Web site: Tartaglione . Nancy . July 13, 2018 . Tom Cruise Says 'Mission: Impossible – Fallout' Is "Love Letter" To Paris At World Premiere . July 24, 2018 . . July 25, 2018 . https://web.archive.org/web/20180725122821/https://deadline.com/2018/07/tom-cruise-mission-impossible-fallout-love-letter-to-paris-world-premiere-1202426257/ . live .
  27. Web site: China's Alibaba Pictures Sets Renny Harlin-Directed 'Legend of the Ancient Sword'. Abid. Rahman. June 13, 2016. June 13, 2016. The Hollywood Reporter. August 28, 2020. https://web.archive.org/web/20200828123734/https://www.hollywoodreporter.com/news/chinas-alibaba-pictures-sets-renny-902212. live.
  28. Web site: Renny Harlin to Shoot 'Legend of the Ancient Sword' for Alibaba. Patrick. Frater. June 13, 2016. June 13, 2016. Variety. June 13, 2016. https://web.archive.org/web/20160613234933/https://variety.com/2016/film/asia/renny-harlin-to-shoot-legend-of-the-ancient-sword-for-alibaba-1201794259/. live.
  29. Web site: Director Renny Harlin on Staging His Second Act in China (Q&A). Patrick. Brzeski. December 1, 2016. December 2, 2016. The Hollywood Reporter. December 2, 2016. https://web.archive.org/web/20161202094024/http://www.hollywoodreporter.com/news/director-renny-harlin-staging-his-second-act-china-q-a-946043. live.
  30. Web site: Chou . Christine . 2019-02-15 . Alibaba Pictures Starts Year of Pig With Box Office Successes . 2019-02-25 . Alizila.com . 2019-02-26 . https://web.archive.org/web/20190226111130/https://www.alizila.com/alibaba-pictures-starts-year-of-pig-with-box-office-successes/ . live .
  31. Web site: McNary . Dave . 11 January 2019 . China's Alibaba Pictures to Partner on STX's UglyDolls Franchise . . 15 January 2019 . 7 November 2021 . https://web.archive.org/web/20211107113843/https://variety.com/2019/film/news/china-alibaba-stxs-uglydoll-franchise-1203105602/ . live .
  32. Web site: Sun . Rebecca . Brzeski . Patrick . April 25, 2016 . China's Alibaba Pictures to Remake 'Night at the Museum' . April 27, 2016 . . April 27, 2016 . https://web.archive.org/web/20160427104210/http://www.hollywoodreporter.com/news/chinas-alibaba-pictures-remake-night-887597 . live .
  33. Web site: Skydance, Alibaba Team Up on World War II Movie 'Flying Tigers'. Justin. Kroll. Variety. April 6, 2016. April 22, 2016. April 28, 2016. https://web.archive.org/web/20160428140845/http://variety.com/2016/film/news/flying-tigers-skydance-alibaba-american-volunteer-group-1201747712/. live.
  34. Web site: Vicky Zhao to Direct Animated 'My Fair Princess' for Alibaba Pictures. Patrick. Frater. Variety. January 25, 2016. February 6, 2016. January 30, 2016. https://web.archive.org/web/20160130152553/http://variety.com/2016/film/asia/vicky-zhao-animated-my-fair-princess-alibaba-1201687698/. live.
  35. Web site: Italy's Giuseppe Tornatore to Shoot Movie for China's Alibaba Pictures. Patrick. Frater. Variety. April 17, 2016. April 22, 2016. April 21, 2016. https://web.archive.org/web/20160421092334/http://variety.com/2016/film/asia/giuseppe-tornatore-to-shoot-movie-for-china-alibaba-1201755194/. live.
  36. Web site: Makuch . Eddie . November 21, 2016 . David Heyman signs on to produce a film version of the "Warriors" children's book series. . May 13, 2017 . . June 13, 2018 . https://web.archive.org/web/20180613161101/https://www.gamespot.com/articles/harry-potter-producer-making-movie-about-warrior-c/1100-6445608/ . live .

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Alibaba Pictures".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.