Alibaba Pictures enters strategic partnership with Spielberg's Amblin
Amblin Partners and Alibaba Pictures, the entertainment company partially owned by Alibaba, announced they have entered into a comprehensive strategic partnership to co-produce and finance films for global and Chinese audiences, as well as collaborate on the marketing, distribution and merchandising of Amblin Partners films in China. Under the terms of the partnership, Alibaba Pictures will also acquire a minority equity stake in Amblin Partners and an Alibaba Pictures representative will join Amblin Partners' board of directors. Alibaba Pictures will be the marketing, distribution and merchandising partner for Amblin Partners films in China. Alibaba Pictures will also give Amblin Partners the opportunity to benefit from exposure to Alibaba Group's ecosystem of 434M active users and various platforms, including online streaming from Youku Tudou, over-the-top delivery from Tmall set-top box, and and e-commerce marketplace participation at Taobao Marketplace and Tmall.com.