You are here

Alibaba goes Hollywood with 'Mission: Impossible' stake

missionimpossible250615.jpg
Chinese online retail giant Alibaba made its first move into Hollywood on Wednesday, announcing that its film arm would invest in the next "Mission: Impossible" film.

[LOS ANGELES] Chinese online retail giant Alibaba made its first move into Hollywood on Wednesday, announcing that its film arm would invest in the next "Mission: Impossible" film.

China's answer to Amazon did not reveal details of the deal it had reached with Paramount.

But it did say the accord made it the official promoter of the film in China, including online ticket sales and merchandising.

"Mission: Impossible - Rogue Nation" - the latest installment in the blockbuster spy series starring Tom Cruise - hits theaters on July 31 in much of the world.

Alibaba Pictures CEO Zhang Qiang said the agreement marked the "first step toward internationalisation." "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," Mr Zhang said.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

The announcement came nine days after Alibaba said it was preparing a video and TV streaming service similar to Netflix.

AFP

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes