Alibaba Entertainment Sector Will Invest In A Korean Film
Alibaba Picture Group all set to invest in the South Korean film named Real.
Alibaba Group Holding is biggest e-commerce business in the world. The company is also known as the largest B2B business in the world and owns and runs several online marketplaces. It offers a unique platform to the people as well who can do business on this platform as well. However, Jack Ma wanted to grow out of the e-commerce business and wanted to do something extra. Alibaba’s cloud computing business, Aliyun, is one of the biggest in the sector and the company recently initiated a film investment arm known as Alibaba Pictures.
Alibaba Group film investment arm will make his presence feel worthwhile as it is determined to invest in the first upcoming South Korean film named as ‘Real’. The cast of this movie is good and maybe Alibaba Pictures understands that this can result in a very good step. The movie will star Kim Soo Hyun who was also the lead actor in ‘My Love From The Stars’ which was a very popular Korean TV series. The TV series was also ‘widely exported’ and ‘earned large online viewership’ in China as well.
It is believed that Alibaba Pictures will be exploiting opportunities such as advertising, brand licensing, and e-commerce platform development. The movie is set to be directed from December by a well renowned director, Lee Jeong sub, whose one of the prolific works is Romantic Island. Real will be produced by special purpose vehicle Real SPC. Only the male lead actor has been confirmed so far and the details regarding other cast members have not been made public yet.
The deal was signed a week ago between two parties, Alibaba Pictures Group and Keyeast. Mr. Zhang Qiang, the head of Alibaba Pictures gave a statement, “We’re investing in ‘Real’ because the Korean film industry is arguably the most influential creatively in the region at present, and the hugely popular Kim Soo Hyun is the embodiment of that. We aim to support regional movie making in Asia, as well as bigger Hollywood movies. Indeed, we continue to explore cooperation opportunities with the best film production houses globally. So our vision here is truly global.”
Alibaba Pictures Group came into being in 2014 when the Chinese tech giant completed the acquisition of ChinaVision. The film investment arm has its own separate listings in both Hong Kong Stock Exchange and Singapore Stock Exchange. The company is already operational and invested in a few films.