×
You will be redirected back to your article in seconds

Steven Spielberg’s Amblin Partners Inks Strategic Pact With Alibaba Pictures

Alibaba Pictures Group, the movies arm of Chinese e-commerce giant Alibaba, is to acquire an unspecified minority stake in Steven Spielberg’s Amblin Partners.

The move was announced as part of a strategic partnership to co-produce and finance films for global and Chinese audiences.

The two will also collaborate on the marketing, distribution and merchandising of Amblin Partners films in China. Alibaba Pictures will have the option to co-finance Amblin Partners films worldwide.

“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 in a statement.

“This partnership is the first of its kind for both Amblin Partners and Alibaba Pictures and marks an important milestone in our globalization 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,” said Shao Xiaofeng, chairman of Alibaba Pictures.

“We have great respect for Mr. Spielberg as one of the world’s most influential filmmakers and entrepreneurs. Among Chinese consumers, there is an increasing demand for premium global content,” said Alibaba group’s executive chairman Jack Ma. “This collaboration can serve as a cultural bridge and have a positive impact on the next generation of Chinese consumers.”

Alibaba Pictures sees itself as a technology-driven, diversified film group that ranges from production investment through to distribution and ticketing.

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, cinema services and to e-commerce. Its related businesses include online streaming (Youku Tudou), over-the-top access (Tmall set-top box) and e-commerce marketplaces (Taobao Marketplace and Tmall.com.)

Its Hollywood investments to date include as “Teenage Mutant Ninja Turtles: Out of the Shadows,” “Star Trek Beyond” and “Mission: Impossible – Rogue Nation.” In Asia APG is involved with the production of movies such as “Ferry Man,” “Three Lives Three Worlds Ten Miles of Peach Blossom,” “Ao Jiao Yu Pian Jian,” and Korea’s “Real.”

More Biz

  • Jussie Smollett Good Morning America

    Jussie Smollett Angrily Denies Complicity in Attack

    Attorneys for “Empire” actor Jussie Smollett issued a statement Saturday denying that he orchestrated his Jan. 29 assault, and saying he is “angered” and “devastated” by recent developments in the case. Chicago police want to interview Smollett, after learning new evidence from two Nigerian brothers who were released on Friday night. Local media outlets have [...]

  • Walt Disney Archives Founder Dave Smith

    Walt Disney Archives Founder Dave Smith Dies at 78

    Walt Disney Archives founder Dave Smith, the historian who spent 40 years cataloging and preserving the company’s legacy of entertainment and innovation, died Friday in Burbank, Calif. He was 78. Smith served as Disney’s chief archivist from 1970 to 2010. He was named a Disney Legend in 2007 and served as a consultant to the [...]

  • Colin Kaepernick Kneel

    Colin Kaepernick, Eric Reid Reach Settlement With NFL

    Colin Kaepernick and Eric Reid, two football players who alleged the National Football League colluded to oust them from the game after they started kneeling in protest of racial inequality during the playing of the national anthem, have reached a settlement in the matter, according to a statement from the sports organization and lawyers representing [...]

  • R. Kelly

    R. Kelly Could Be in ‘Big Trouble’ Over Alleged New Sex Tape, Attorney Says

    Strong allegations of sexual misconduct have followed R. Kelly for 25 years, but the singer has always managed to slip free. Yet reports that a videotape of him sexually assaulting an underage girl, combined with the outcry surrounding the Lifetime documentary “Surviving R. Kelly,” means that public sentiment, at the very least, is definitely not [...]

  • Christian Bale as Dick Cheney in

    New Media Residuals and Feature Films Contribute to Spike in Writers' Pay

    The outlook for members of the Writers Guild of America has brightened — even amid pervasive uncertainty in the entertainment industry. According to the most recent report to WGA West members, earnings surged 2.8% to $1.41 billion in 2017, thanks mostly to gains in feature films and new-media residuals. Total covered earnings for WGA West [...]

  • Joe Dante Gremlins

    Hollywood Execs Seek Licensing Deals at the New York Toy Fair

    On Feb. 16 more than 30,000 studio executives, buyers and toy company reps will gather in Manhattan for the annual Toy Fair New York, all vying for market share and trying to snag the latest hot trend in a fast-changing industry. Those working the film side of the business will focus much of their attention [...]

  • Lady Gaga Bradley Cooper A Star

    Universal Music Group Fuels 11.3% Rise in Vivendi's 2018 Revenues

    Vivendi’s revenues were up 11.3% to €13.93 billion ($15.7 billion) in 2018, powered by Universal Music Group, which delivered such hits as the “A Star Is Born” soundtrack and Drake’s new album. UMG’s revenues climbed by 10% to €6 billion ($6.8 billion) compared to 2017. On top of the “A Star Is Born” soundtrack, the [...]

More From Our Brands

Access exclusive content