Alibaba will launch its Hollywood investment endeavor by sharing the promotional expenses for Mission Impossible Rouge Nation with Paramount Pictures.
Alibaba Pictures, the film and TV production arm of the Chinese e-commerce giant has announced that it will be making an investment in its first Hollywood movie.
It will be tying its boats along the new Mission Impossible installment Rogue Nation along with Paramount Pictures. Alibaba has not yet revealed the net amount of its investment but it cooperate with Paramount on online ticketing, merchandising and promotion of the movie.
This would be Alibaba’s start of journey in the Hollywood as it hopes to make more collaborations with the other production houses.
“‘Mission: Impossible — Rogue Nation’ is our first step toward internationalization, and Alibaba Pictures looks forward to collaborating with more international movie studios where we can consolidate resources, technologies and talents to establish a world-class integrated entertainment platform for the film industry,” Zhang Qiang, CEO of Alibaba Pictures, said.
Paramount Vice Chairman Rob Moore said in a statement that Alibaba founder Jack Ma, Paramount Chairman Brad Grey and Alibaba Pictures chief executive Zhang Qiang had already met last fall to discuss terms but it was only till Wednesday that the company officially announced its collaborative stance.
“We hope today’s announcement is the first of many collaborations between us, we are thrilled to be working with them to create a successful campaign for one of our studio's most popular franchises." said Rob Moore.
Alibaba will be promoting the movie through its Taobao Movie platform, which allows users to purchase tickets and select seats. Movie merchandise will also be promoted through various Alibaba platforms.
Alibaba’s investment follows a wave of other partnerships between Chinese entities and Hollywood studios and production companies.
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Watch below the official payoff trailer of Mission: Impossible - Rogue Nation.