Collaboration will also include merchandising for the films in China.
Alibaba Pictures Group and Amblin Partners have partnered to co-produce and finance films for global and Chinese audiences.
The two companies will also collaborate on marketing, distribution and merchandising on Amblin Partners films in China, leveraging Alibaba’s businesses in digital marketing, online ticketing, cinema services and operations as well as entertainment e-commerce and online streaming.
“We look forward to working with Amblin Partners, a company that shares our vision of powerful storytelling,” says Shao Xiaofeng, chairman, Alibaba Pictures. “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.”
Under the terms of the partnership, Alibaba Pictures will acquire a minority stake in Amblin. An Alibaba Pictures representative will also join Amblin’s board of directors.
“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,” says Steven Spielberg, chairman, Amblin Partners. “Our vision is to inspire and entertain audiences through creativity and imagination both here and around the world. We would also like to thank Jack Ma for his friendship and support.”