Alibaba's Partnership With Light Chaser Animation Studio

AliBaba Group tries to appease movie fans by collaborating with Light Chaser to produce animated movies.

Alibaba Group has taken a step to dominate the field of entertainment. Alibaba news exclaimed that as the enterprise is collaborating with the Beijing-based company, Light Chaser Animation Studio, as it progresses in the film industry. Its film unit, Alibaba Pictures Group, signed an agreement to invest in a film launched by the Beijing-based organization, founded in 2013 by Gary Wang.

Mr. Wang has stated that Alibaba Pictures would be responsible for distributing Light Chaser’s first feature length film, Little Door Gods. Alibaba news today highlighted that the investment worth millions of dollars is insignificant for the Hangzhou-based giant’ film division, which has successfully received $1,570,000,000 in June by offering new shares.

The total budget allocated for Little Gods – including promotion, distribution, and production – is around $25,000,000. The organization’s investment indicates its intent to involve in the growing film sector of the world's most populated country.

Alibaba breaking news reported that the e-commerce company purchased majority of the film studio, China Vision Media Group’s shares worth more than $800,000,000 and gave it a new name “Alibaba Pictures” last year. While collaborating with movie theaters across the country, it also provides an electronic movie ticketing service through its smartphone applications. It is also known for operating Yule Bao, a network that lets Chinese investors economically support movies.

A spokeswoman of Alibaba Pictures has stated that Light Chaser “is one of the most creative animation studios in China”. She believes that the agreement represents the organization’s first investment in an animation venture. According to Mr. Wang, the audience is becoming more responsive to Chinese animated films, which are also expected to bloom, considering the rise in animation trend.

In 2014, Light Chaser succeeded in raising $20,000,000 in a financing round from venture capital companies, Chengwei Capital and GGV Capital. It has currently hired 200 workers, including people who earlier worked for major American studios, such as Industrial Light & Magic and Pixar.

Industrial specialists claim that the aforementioned collaboration with the South East Asian studio would not only improve its reputation but also help it to dominate the corporate world. It is probable that movie fans residing in different parts of the world would welcome the ties between both parties. 

Alibaba Picture and Light Chaser should now ensure that the entertainment product is distributed in the most effective manner to capture the highly competitive market. Many businesses are looking forward to add a digital media studio for movie productions and animation purposes. The rise in demand and market’s hunger for good quality production has compelled these businesses to consider this trend as an opportunity. The e-commerce company appraised the partner studio for its creativity and originality. Only time will reveal the actual fruits of this collaboration.