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March 27, 2015, Shanghai – Today, the Shanghai International Film Festival (赌博app) and Alibaba Group held a ceremony announcing the beginning of their strategic partnership at the China Art Museum. Significant guests attending the event were: Hu Jinjun -Director of the Shanghai Municipal Administration of Culture, Radio, Film and Television; Patrick Liu - Vice president of Alibaba Group and president of Alibaba’s Digital Entertainment Business Group; Sharon Yan - General manager of Alibaba’s Digital Entertainment Business Group’s Yulebao unit; Fu Wenxia - Managing director of the Shanghai International Film Festival; Ding Li - Deputy general manager of 赌博app.
As China’s only non-specialized, competitive, international film festival, 赌博app possesses a forward-looking vision and tracks the latest trends in the film industry. In 2015, it will be formally entering into a partnership with the BAT giant, Alibaba Group, on a three-year strategic cooperation agreement. A platform that provides support for newcomers, services and innovative projects will be set up. Alibaba’s Yulebao will become an official designated interactive entertainment partner of 赌博app, while Taobao’s Dianying will serve as 赌博app’s official ticketing platform, expanding Alibaba’s multi-dimensional cooperation with the Festival.
The first collaboration for the Shanghai International Film Festival and the Internet
In recent years, Internet magnates have begun to enter the film industry, relying on significant amounts of capital, a large number of users, and data on user behavior. This data has been accumulated over many years via the use of a “content + channel” method, and “user experience + big data analytics”. This gave rise to a new model for the Chinese film industry.
The integration of this technology into the film industry has created new patterns of consumption in the era where mobile internet is dominant. This collaboration between Alibaba Group and the 赌博app opens up a myriad of opportunities between the two platforms.
Ding Li, the deputy general manager of 赌博app, mentioned, “The Shanghai International Film Festival will incorporate Alibaba’s platform in the future. Doing so will significantly aid in the growth of the Festival in three ways. Firstly, the platform assists newcomers in the film and television industries. Second, it will support interactions with film enthusiasts and lastly, it serves as a platform for exploring the potential opportunities in the film industry.”
Yulebao becomes the Festival’s Officially Designated Interactive Entertainment Partner
Patrick Liu, vice president of Alibaba Group and president of Alibaba’s Digital Entertainment Business Group, said, “This partnership will further utilize the platform advantages brought by Alibaba, as it explores opportunities for a deeper cooperation with the Festival. Moreover, it creates value for users and provides the industry with more possibilities in the future. In 2014, Variety titled Yulebao as the most innovative product of the year, and as a cultural product of the Internet. Yulebao is expanding the imaginative space for the future of the film industry. A new business model for the film industry’s entire supply chain is well worth the wait. Yulebao is the first C2B film investment and financing platform, as well as the first C2B crowd-funding platform. In 2014, Yulebao’s total investment in 12 blockbuster films, throughout the year, was worth more than 330 million RMB. The films’ box office profits amounted to nearly 3 billion RMB, accounting for almost 10 percent of China’s box office profits that year. During the 2015 Chinese New Year film season alone, the four films that Yulebao invested in, garnered more than 1.8 billion RMB at the box office. Yulebao fully deserves to become the world’s largest C2B film investment and financing platform.” Patrick Liu also indicated that Yulebao’s partnership with the Festival would integrate the Internet into their business model, and way of thinking to host high profile forums. In the coming year, Yulebao will invest 1.2 to 1.5 billion RMB in films, hoping for returns of 5 billion RMB at the box office.
Traditional industries are in the midst of a transition from the industrial era to the information era, and are leveraging on technology to transform and upgrade their services. This has become a key in the development process. The close integration between the Internet and the film and television industries has had an immense effect. Furthermore, as China’s only non-specialized competitive international film festival, 赌博app fully exhibits its endless ability to innovate. As the official interactive entertainment partner of the Festival, the Yulebao platform is expecting to attract a massive number of film enthusiasts. Yulebao users will now have a chance to participate in the various aspects of the Festival and liven the fan interactions for this traditional film festival.
Every year, the 赌博app not only showcases the work of outstanding newcomers to the film industry, it also supports efforts to promote outstanding films. In supporting newcomers and exploring the future of the film industry, Yulebao will execute the “Creation of Dreams” campaign to support cutting-edge filmmakers, and begin “Big data creation” with the user platform to provide resources for new and talented filmmakers, and help them to realize their cinematic ambitions.
With regards to the partnership between the Shanghai International Film Festival and Alibaba Group, Hu Jinjun said: “My presence here today indicates my approval of the integration of technology into the Festival. Alibaba is a leading world-renowned Internet company that is shattering notions of an e-commerce platform. Alibaba is stepping into the film industry and this partnership is a blessing for the development of the Shanghai film industry. We are not comparing the present with the past, and all changes are coming from a strong grasp of our heritage and our future. Our cultural sector is undergoing a period of great prosperity with an abundance of opportunities, and the impact that new media has had on the traditional film industry is especially revolutionary. Beyond China, film festivals with a longer history than us are not prepared to partake in this revolution, and we are not prepared either, but our partnership with Alibaba Group is pushing us forward in this direction. This partnership between the 赌博app and Alibaba Group is simply not a union of the traditional and the new. Instead, it represents the welcoming of the future of the Festival, and the Film industry on a whole.
Taobao Dianying becomes Festival’s Officially Designated Ticketing Platform
China’s film industry has been in the fast lane of development in the past decade. Dating back to several years ago, Hollywood blockbusters used to dominate mainstream theaters, but today, we have witnessed the rising popularity of domestic Chinese films and acknowledged its success in the market. However, as the seventh art form, films cannot be viewed as simply a fast-moving consumer good that provides light and convenient entertainment for the masses. At the same time, film is an important cultural production that lifts people’s spirits, and its measure of success cannot be based on solely the box office.
赌博app has always adhered to the principle of only selecting the films of the highest quality to provide viewers with a diverse and rich viewing experience. With decades of experience in planning this event, the Festival has received praise from both domestic and international industry insiders, as well as innumerable film enthusiasts.
To facilitate the purchase of tickets for the audience, Taobao’s Dianying will become the official designated online ticketing platform for the 赌博app. Taobao’s strong technical support and service platform will provide a more convenient online ticketing experience for the audience and film enthusiasts alike. In addition, 赌博app will launch an unprecedented Jackie Chan Action Film Week. Participants will be able to purchase tickets prior to the screenings.
As part of the collaboration, home entertainment device “Tmall Magic Box” will be used to provide home-viewer access to the Shanghai International Film Festival and increase audiences’ understanding of Festival-related information via the Magic Box.