ALIBABA INVESTS IN NEXT ‘ MISSION’ MOVIE
In the Chinese e- commerce giant’s first Hollywood deal, its film unit will be the country’s promoter of ‘ Rogue Nation.’
BEIJING — Chinese ecommerce giant Alibaba made its f irst investment into Hollywood by announcing it will sink money into the next “Mission: Impossible” film.
The company announced that its Alibaba Pictures will spend an unspecified amount of money to bankroll Paramount Pictures’ summer release of “Mission: Impossible — Rogue Nation.” The deal will make Alibaba the official promoter of the f ilm in China, including online ticketing, merchandising and promotion of the movie.
The tie- up is being billed by the Chinese company as the “start of Alibaba Pictures’ international journey as the company continues to explore collaborative opportunities with more movie studios overseas.” Alibaba said it plans to promote the f ilm through its Taobao Movie platform, which enables users to purchase tickets and select seats. Movie merchandise will also be promoted through various Alibaba platforms, the company said.
Talks began last fall between Alibaba founder Jack Ma, Paramount Chairman Brad Grey and Alibaba Pictures Chief Executive Zhang Qiang about ways to cooperate in China. Paramount Vice Chairman Rob Moore said he hoped the “announcement is the f irst of many collaborations between us.”
“Mission: Impossible — Rogue Nation” is scheduled for release in the United States on July 31; a China release date has not yet been confirmed. Previous installments in the “Mission: Impossible” franchise have preformed well in China, and scenes for the third installment, 2006’ s “Mission: Impossible III” were f ilmed on the mainland.
Alibaba’s investment follows a wave of other partnerships between Chinese entities and Hollywood studios and production companies.
China’s Hunan TV & Broadcast Intermediary Co. closed an agreement to invest $ 375 million in Lionsgate’s movie slate over three years; real estate firm Fosun last year put $ 200 million into Jeff Robinov’s new Studio 8 production company; and Beijing studio Huayi Bros. Media Corp. announced in March that it was investing in a slate of at least 18 films with Robert Simonds’ STX Entertainment.
Former Disney studio chief Dick Cook has also launched a new production company with $ 150 million from a Chinese investment group, CITIC Guoan.
In January, Alibaba Pictures announced its inaugural production would be a comedy written and directed by 30- something author Zhang Jiajia. Hong Kong director Wong Kar- Wai will produce the movie, which will star Tony Leung and is slated for release this year. The studio said in early June that it would issue new shares to raise $ 1.6 billion to fund acquisitions and investments.