Alibaba Plans $7.2B Entertainment Investment Over 3 Years | Deadline http://deadline.

com/2016/12/alibaba-spend-7-2b-entertainment-1201876350/

Alibaba Group

The chief executive of Alibaba Digital Media & Entertainment Group plans to throw
serious money at content: Yu Yongfu, the fast-rising tech exec who was appointed
CEO in a reshuffle earlier this month, said in an internal email that the entertainment
affiliate will invest more than RMB 50B ($7.2B) over the next three years, Reuters
reports.

He added that he didnt come to play according to the note that the news service
saw, and confirmed with Alibaba.

The e-commerce giant consolidated its key entertainment holdings under the Alibaba
Digital Media & Entertainment Group umbrella in late October. The divisions
businesses include Youku Tudou, UCWeb, Alibaba Pictures, Alibaba Music, Alibaba
Gaming, Alibaba Literature and Alibaba Digital Entertainment.

At the time, it said it might create a complimentary fund of over RMB 10B ($1.5B) to
invest in the digital media and entertainment industries. Reuters says its not clear
whether that fund is part of the newly disclosed RMB 50B figure, or what assets

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Alibaba may be seeking.

Alibaba Pictures Group said this month that it made a comprehensive organization
and business model upgrade that it hopes will morph it into a content-based
Goldman Sachs-type organization that looks to be hard-nosed rather than an
adventurer.

At the time Yu wrote to employees explaining that the companys aim is not to
become a film and television production company in the traditional sense The
future is so bright, but reality is tough.

Predicting contraction in the Chinese market, Yu wrote:

The domestic film and television industry, following three years of savage growth, is
entering a phase-out and upgrade cycle. A great number of film and television
production companies will be opting out or will be edged out of the market next year.
It is both a challenge for film and TV adventurers and an opportunity for
entrepreneurs The market needs a hard-nosed film and television production
company instead of an adventurer with tremendously abundant resources. We need
to devote concrete and thorough efforts to developing the larger and stronger
business.

In its short existence, Alibaba Pictures has become a major player in China and is
expanding its reach globally.

Last week, it led a $360M funding round in leading Chinese production and
distribution group Bona Film. In November, it made a strategic investment in Hehe
Pictures Corporation, which was itself an investor of the countrys biggest film of all
time, The Mermaid. It also owns online movie-ticketing platform Tao Piaopiao and
has made a steady series of investments in films from Paramount including Mission:
Impossible Rogue Nation, Teenage Mutant Ninja Turtles 2 and Star Trek Beyond.

In October, it took a minority equity stake in Steven Spielbergs Amblin Partners to

co-produce and finance films for global and Chinese audiences and more recently
joined forces with Harry Potter producer David Heyman on Warriors, a live-action
film based on the hit series of young-adult novels.

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Comments On Deadline Hollywood are monitored. So don't go off topic, don't impersonate
anyone, and don't get your facts wrong.

Hollywood selling itself piece by piece to the Chinese authorities is borderline treason.

Exactly

No, its not. Its business. You know, what the fing PRESIDENT will be
doing in the White House a month from now, with Russia and who knows
who else. Hollywood isnt the Government and can do business with
whoever they damn well please to! Save the treason label for people actually
committing it!

@Anonymous

You, obviously, are not a part of our community. Those of us

whove created the entertainment and artistic components that

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have grown this industry are VERY protective of it. Whether

someone writes, produces, edits, sings, dances, is an agent,
director, crew member, or one of the other crafts that has
supported our industry for decades WE, not Wallstreet, know
whats best for the integrity of our industry. To sell our artistic
properties to China is morally criminal. I wonder.. Have all of
the brilliant minds in this industry forgotten that China is not a
democracy? After witnessing the emotional breakdown that our
industry has experienced since Nov. 8th, Im surprised that selling
Hollywood to a China Id perfectly fine. Hypocritical bullshit.

Have all of the brilliant minds in this industry forgotten

that China is not a democracy?

Well, technically, neither is America.

This is disgusting. Do we really need to sell our intellectual assets to the Chinese? As a
nation, we should be ashamed to pimp out our artistic and cultural identity to a group
of people (read people as money whores from the Chinese government) whos only
care us to OWN our history and set so that hey can OWN who we are, have been, and
will be. Hollywood, wake the hell up!! Stock holders need to vote NO NO NO. these
folks bought Dick Clark Productions. Ive already heard that huge budget cuts are in
going to happen. Combine their PURCHASE of our artistic properties with the huge
studio complexes being built in China, and it will be the kiss of death for our industry
as we know it to be. This is fact, not fear mongering. Our guilds and unions need to get
involved in this!

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China Debra

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