Alibaba Pictures Group Ltd. invests in its first Hollywood venture, "Mission: Impossible - Rogue Nation."
Alibaba recently agreed with Paramount Pictures Corp. to collaborate in online ticketing, merchandising, and promotion of the said film in China.
At press time, there has been no disclosure on the amount of Alibaba’s investment.
Zhang Qiang, CEO of Alibaba Pictures, said in a statement that "the film is the company’s first step toward internalization."
“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,” added Zhang.
Rob Moore, Paramount’s vice chairman, confirmed that his team met with Zhang, Jack Ma and Brad Grey in Los Angeles last fall. Moore and the rest of the team discussed how their companies could cooperate together.
“We hope today’s announcement is the first of many collaborations between us,” said Moore.
Alibaba announced that the film will be publicized through Taobao Movie platform. The said platform allows users to buy tickets and select seats.
Aside from Alibaba, other Chinese entities also collaborated with Hollywood production companies.
China’s Hunan TV will invest $375 million with Lionsgate, while the Beijing-based Huayi Bros. studio will invest in at least 18 films with Robert Simonds’s STX Entertainment.
The "Mission: Impossible-Rogue Nation," starring Tom Cruise, will be initially released in the U.S. on July 31. The release date in China has not been confirmed.
Cruise, who plays the role of Ethan, will be joined by a powerhouse cast including Jeremy Renner, Alec Baldwin, Simon Pegg and Rebecca Ferguson.
The fifth "Mission: Impossible" installment was written and directed by Christopher McQuarrie in joint effort with Drew Pearce.