Business / Economy

REAL deal for Alibaba Pictures Group

By Du Juan ( Updated: 2015-10-13 15:16

Alibaba Pictures Group Ltd has signed a memorandum of understanding to invest in REAL, a South Korean action movie, featuring Kim Soo Hyun.

The deal was put together at the recent Busan International Film Festival and reflects the strategic focus of Alibaba Pictures to go global.

The agreement will give it sole distribution rights for the movie in China. Alibaba Group Holding Ltd, which owns Alibaba Pictures Group, will help market the film through advertising and brand licensing on its e-commerce platforms.

"We're investing in REAL because the Korean film industry is arguably the most influential in the region. 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," Zhang Qiang, chief executive officer of Alibaba Pictures, said.

"We will also acquire and develop quality intellectual property assets and consolidate our global resources, technologies and talent in order to bring the best entertainment experience to customers. We also plan to build a world-class integrated entertainment platform for the movie industry."

The REAL deal is Alibaba Pictures' second overseas foray after investing in the Hollywood blockbuster, Mission: Impossible – Rogue Nation. The movie was released in China last month and has grossed 867 million yuan ($137 million) at the box officer.

REAL is expected to start filming by the end of this year. The action movie will feature Kim as Zhang Tai Ying, an ambitious and ruthless businessman who is hungry for success.

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