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Alibaba Pictures

From Wikipedia, the free encyclopedia
Alibaba Pictures Group Limited
IndustryFilm
Headquarters
Zhejiang,China
Shanghai
,
China
Hong Kong
Key people
Fan Luyuan (chairman & CEO)
ParentAlibaba Group
SubsidiariesAmblin Partners(minority stake)
Websitewww.alibabapictures.com

Alibaba Pictures Group Limitedis a Chinese film company under theAlibaba Group.The film company was formerlyChinaVision 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 asYouku Tudou Inc.,Enlight Media,Huayi Brothers,Bona Film Group,Wasu Media,Sina Weibo,XiamiMusicandGuangzhou Evergrande Taobao Football Club.In addition, Ma Yun also occasionally engages in capital operations, such as establishingYunhuang and YunxiCapital…” (Paquienséguy, He).

History[edit]

In March 2014, Alibaba Group bought a 60% stake in ChinaVision Media for$805 million.[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 Qiangresigned as vice president ofChina Film Groupto become the head of Alibaba Pictures.[6]Later in the month, Alibaba Pictures entered agreements with filmmakers and film companies, including directorWong Kar Waiand 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 Partnersstruck 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 theFinancial Times,"Amblin Partners and Alibaba Pictures teamed up to" finance, produce, market and distribute films in China and globally. "[11]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 asTao Piao Piao,where theater tickets aresubsidized.[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.[13]Its success is not limited just to mainlandChina.Through its first domestic releaseSee You Tomorrow,the company combined both mainland Chinese andHong Kongvalues, 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.”[14]

Alibaba Pictures’ mid-2010s expansion was not limited only to Hong Kong however.[15]

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

In 2016, Alibaba Group partnered withSteven Spielberg’sAmblin Partners,an American film production company.[16]

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 toAlizila,an Alibaba news outlet.[17]

At a briefing regarding the partnership inBeijing,Spielberg was quoted byReutersas 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…”[18]

Alibaba Pictures partnered with California-basedSTX,an American entertainment company, to bring “PeppaCelebratesChinese New Year”to American silver screens in 2019.

After a substantial show of interest in the film onsocial mediaby Mandarin-speaking audiencesSTXand 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.[19]

“The increasing appreciation for and interest inChinese 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 thatMandarinspeakers in the U.S. would have access to the film while the movie was playing in China.”[citation needed]

Filmography[edit]

References[edit]

  1. ^Patrick Frater (April 9, 2015)."Chinese Media Stocks Stage Major Rally in U.S. and Asian Markets".variety.com.Archivedfrom the original on November 21, 2018.RetrievedApril 14,2015.
  2. ^Rob Cain (June 7, 2015)."Is Jack Ma's Alibaba Pictures Really Worth $10 Billion?".forbes.com.Archivedfrom the original on March 27, 2019.RetrievedJune 17,2015.
  3. ^Osawa, Juro (May 12, 2014)."Is Alibaba Going Into the Movies?".The Wall Street Journal.Archivedfrom the original on September 26, 2019.RetrievedJanuary 28,2015.
  4. ^Staff (May 12, 2014)."China's Alibaba registers film company in Hong Kong".reuters.com.Reuters.Archivedfrom the original on March 10, 2016.RetrievedJanuary 28,2015.
  5. ^Ying, Huang; Jing, Meng (June 3, 2014)."ChinaVision becoming Alibaba Pictures".China Daily.Archivedfrom the original on June 11, 2021.RetrievedJanuary 28,2015.
  6. ^Chu, Kathy (July 17, 2014)."Alibaba Hires Zhang Qiang to Run Alibaba Pictures Production Company".The Wall Street Journal.Archivedfrom the original on June 11, 2021.RetrievedJanuary 28,2015.
  7. ^Frater, Patrick (July 20, 2014)."China's Alibaba to Finance Wong Kar Wai Movie Slate".Variety.Archivedfrom the original on May 2, 2015.RetrievedJanuary 28,2015.
  8. ^abFrater, Patrick (March 29, 2016)."Alibaba Pictures Achieves First Profits".Variety.Archivedfrom the original on June 11, 2021.RetrievedMarch 30,2016.
  9. ^"Steven Spielberg's Amblin Partners Inks Strategic Pact with Alibaba Pictures".9 October 2016.Archivedfrom the original on 16 February 2017.Retrieved9 December2017.
  10. ^"China's Alibaba Takes Stake in Steven Spielberg's Amblin; Will Team on Global Pics".9 October 2016.Archivedfrom the original on 13 May 2021.Retrieved19 February2020.
  11. ^abFei Ju, Sherry; Clover, Charles (April 1, 2017)."China's Hollywood war chest threatened by poor ticket sales".Financial Times.RetrievedApril 3,2017.
  12. ^"Alibaba Increases Stake in Online Ticketer Tao Piao Piao | CFI".China Film Insider.2017-07-27.Archivedfrom the original on 2021-06-11.Retrieved2018-11-03.
  13. ^Poujol, Patrice (2019), Poujol, Patrice (ed.), "Alibaba Pictures: An Illustration of Changing Business Cultures and Film Finance",Online Film Production in China Using Blockchain and Smart Contracts: The Development of Collaborative Platforms for Emerging Creative Talents,International Series on Computer Entertainment and Media Technology, Springer International Publishing, pp. 127–181,doi:10.1007/978-3-030-02468-0_5,ISBN978-3-030-02468-0,S2CID169534729
  14. ^Gallagher, Mark (2018), Magnan-Park, Aaron Han Joon; Marchetti, Gina; Tan, See Kam (eds.), "Alibaba Goes to the Movies",The Palgrave Handbook of Asian Cinema,Palgrave Macmillan UK, pp. 109–127,doi:10.1057/978-1-349-95822-1_6,ISBN978-1-349-95822-1
  15. ^"Book Review: Hollywood Made in China".China Film Insider.2018-01-04.Archivedfrom the original on 2020-03-27.Retrieved2020-03-27.
  16. ^Angeles, Alyssa Abkowitz in Beijing and Erich Schwartzel in Los (2016-10-10)."Alibaba Goes to Hollywood in Deal With Steven Spielberg's Amblin Partners".Wall Street Journal.ISSN0099-9660.Archivedfrom the original on 2020-03-27.Retrieved2020-03-27.
  17. ^"Alibaba Pictures Helps Drive China's Billion-Dollar Box Office in 2019".Alizila.com.2019-12-20.Archivedfrom the original on 2020-03-27.Retrieved2020-03-27.
  18. ^"Alibaba Pictures, Amblin to co-produce films for global, Chinese audiences".Reuters(in German). 2016-10-09. Archived fromthe originalon 2020-03-27.Retrieved2020-03-27.
  19. ^"Exclusive: Alibaba is making a huge play to bring Chinese movies to America".finance.yahoo.com.Archivedfrom the original on 2020-03-27.Retrieved2020-03-27.
  20. ^Jaafar, Ali (June 24, 2015)."'Mission: Impossible – Rogue Nation' To Receive Investment From Alibaba Pictures ".Deadline Hollywood.Archivedfrom the original on July 31, 2015.RetrievedAugust 3,2015.
  21. ^Tartaglione, Nancy (January 3, 2016)."'Star Wars', Local-Language & Family Pics Lead; 'Sherlock' Shines In Korea – Intl B.O. "Deadline Hollywood.Archivedfrom the original on January 4, 2016.RetrievedJanuary 4,2016.
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  26. ^abcdefghijJaafar, Ali (June 14, 2016)."China's Alibaba Pictures Unveils Development And Production Strategy; Intends To Use Online Dominance To Help Creative Partners".Deadline Hollywood.Archivedfrom the original on June 15, 2016.RetrievedJune 16,2016.
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  29. ^Rahman, Abid (June 13, 2016)."China's Alibaba Pictures Sets Renny Harlin-Directed 'Legend of the Ancient Sword'".The Hollywood Reporter.Archivedfrom the original on August 28, 2020.RetrievedJune 13,2016.
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  35. ^Kroll, Justin (April 6, 2016)."Skydance, Alibaba Team Up on World War II Movie 'Flying Tigers'".Variety.Archivedfrom the original on April 28, 2016.RetrievedApril 22,2016.
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  38. ^Makuch, Eddie (November 21, 2016)."David Heyman signs on to produce a film version of the" Warriors "children's book series".GameSpot.Archivedfrom the original on June 13, 2018.RetrievedMay 13,2017.
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