Alibaba Pictures Confident of Ticket Sales Strategy, Despite Doubled Losses

Losses doubled at Alibaba Pictures, the separately listed film division of Chinese e-commerce giant Alibaba. They hit $284 million (RMB1.79 billion) in a 15 month financial year to end of March, compared to net losses of $154 million (RMB976 million) in the 12 month period to end of December 2016. Over the same periods revenue rose from $143 million (RMB904 million) to $523 million (RMB3.30 billion).

Management said that “the company continued to develop products and services that form the new infrastructure of the industry, as well as building the foundation of its entertainment industry ecosystem and making huge progress in its business development.”

The company now has three divisions: Internet-based promotion and distribution, which is dominated by its online ticketing business, and film distribution; content production, covering film and TV series; and integrated development, or merchandise sales.

The management report throws interesting light on the reshaping of the business of selling movie tickets. “In the second half of 2017, two major ticketing platforms, Maoyan and Yu Piao Er, were merged. The consolidated entity of Maoyan was eventually acquired by Enlight Media, and together with (Alibaba Pictures’) Tao Piao Piao, form a duopoly that commands a very large percentage of the entire market. In such competitive landscape, the (Alibaba) utilized pricing promotion to stimulate user activity and further strengthen its Tao Piao Piao brand in February 2018 during the Chinese New Year period.”

It says that gross merchandize volume increase by 80% compared with the previous period. And underlined its confidence in the strategy by increasing its equity holding in Tao Piao Piao from 88% to 97%.

More Biz

  • MAGA Teens Taunting Native American Elder

    MAGA Hat-Wearing Teens Harassing Native American Elder Spark Condemnation From Hollywood

    The Internet erupted in outrage Saturday after a video of young men wearing MAGA hats and attempting to intimidate a Native American man at the Indigenous Peoples March in Washington D.C. went viral. The march is taking place amid the government shutdown, which is nearing the one-month mark and has interfered with many Native Americans’ [...]

  • Leonard Klady Dead: Film Journalist Was

    Leonard Klady, Veteran Film Journalist, Dies at 67

    Leonard “Len” Klady, a former Variety reporter and critic who most recently worked for Movie City News and Screen International, has died. His wife, Beverly Walker, said he had been diagnosed with cancer in November.  Klady was born in Winnipeg, Manitoba and graduated from the University of Manitoba. He was a founding member of the [...]

  • Jordan Feldstein

    Roc Nation Seeks $11 Million From Insurer in Jordan Feldstein's Death

    Roc Nation filed a federal lawsuit Friday seeking $11 million from its insurance carrier following the death of Maroon 5 manager Jordan Feldstein. Roc Nation, a joint venture of Jay-Z and Live Nation Entertainment, partnered with Feldstein’s Career Artist Management in 2016. At the time, Roc Nation says it took out a “key man” life [...]

  • Walt Disney HQ LA

    Disney Unveils Financial Data for DTC Unit, Sets April 11 for Investor Presentation

    Disney has rejiggered its business segments for earnings reporting to make room for the new unit housing its global streaming operations. Disney on Friday released restated earnings for fiscal 2018, 2017 and 2016 to give investors and financial analysts better visibility into its spending on the launch of the Disney Plus, ESPN Plus and other [...]

  • R. Kelly

    R. Kelly Dropped by Sony Music

    Sony Music has decided to dissolve its working relationship with R. Kelly, Variety has learned. No external announcement of the move is planned in the immediate future, says a source, who added that the company took its time to wade through the issues “responsibly” and avoid legal ramifications. R. Kelly was removed from the RCA [...]


    Ex-Agent Stuart Manashil Ordered to Repay CAA in Fraud Case

    Former literary agent Stuart Manashil was ordered on Thursday to repay a $23,975 commission to CAA, which he admitted he had illegally diverted to a friend. Manashil, who now runs his own management company, pleaded guilty in March 2018 to a federal wire fraud charge. In a letter to U.S. District Judge Kimba Wood, Manashil [...]

More From Our Brands

Access exclusive content