Steven Spielberg’s Amblin Partners team up with Alibaba to cooperate in the production and distribution of new movies.
China is close to taking the global market from the U.S. and everyone knows that Chinese investors have big bucks to give. While many see them as a revenue hold for many coming projects, few see them as an intercultural bridge between the U.S. and China.
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Jack Ma, the CEO of Alibaba and renowned film maker, Steven Spielberg are approaching a new partnership with that perspective. Spielberg’ Amblin Partners struck a deal with Alibaba which will allow both companies to produce movies and distribute them worldwide.
Spielberg highlighted that the purpose of this deal is to bring the Chinese movies to U.S. and Hollywood movies to China. The co-operation between Amblin Partners and Alibaba is the latest in a long list of deals and procurements allowing Chinese companies to extend their footprint in Hollywood.
According to BBC, both Ma and Spielberg said that they know that there are a lot of differences between Chinese and American cultures. They will however be making movies that focus on the human life and their stories.
Both the companies have hence agreed to co-produce movies for a global and Chinese audience and also work together on the marketing and merchandising of each other's films.
Alibaba Pictures president Zhang Wei commented that there were a lot of companies that had contacted the online market moguls. He said that most of their interests were related to finance rather than creative achievement. That is why Amblin Partners seemed the best candidate for this future partnership.
We have seen many movies fail terribly at home yet grossing a global earning in double the production value in the Chinese market.