Alibaba Pictures has acquired a minority equity stake in Steven Spielberg‘s Amblin Partners, in what is being called a “comprehensive strategic partnership.”
The team will co-produce and finance films for global and Chinese audiences, in addition to joining forces on the marketing, distribution and merchandising of Amblin films in China.
Spielberg announced the pact Saturday from Beijing:
“We are proud and excited that such a valued company as Alibaba Pictures is joining with our other highly-respected partners, Reliance Entertainment, Participant Media and Entertainment One, in building our growth and strengthening our company even further. Our vision is to inspire and entertain audiences through creativity and imagination both here and around the world. We would also like to thank Jack Ma for his friendship and support.”
Also Read: Why Steven Spielberg Will Never Direct 'Star Wars'
Alibaba Pictures’ estimated market value as of June 2015 was $9.6 billion.
“This partnership is the first of its kind for both Amblin Partners and Alibaba Pictures and marks an important milestone in our globalization strategy to reach Chinese and global audiences alike,” said Shao Xiaofeng, chairman of Alibaba Pictures. “We will also leverage Alibaba Group’s ecosystem as a channel for Amblin Partners’ films to reach hundreds of millions of Chinese consumers.”
“We have great respect for Mr. Spielberg as one of the world’s most influential filmmakers and entrepreneurs. Among Chinese consumers, there is an increasing demand for premium global content,” said Alibaba Group’s executive chairman Jack Ma. “This collaboration can serve as a cultural bridge and have a positive impact on the next generation of Chinese consumers.”
Also Read: Washington Post Warns That China's Hollywood Invasion Is a 'Propaganda' Play
Amblin Entertainment was founded by Spielberg and film producers Kathleen Kennedy and Frank Marshall in 1981. It went on to produce box office mega hits like “E.T. the Extra-Terrestrial,” “Back to the Future,” “Men in Black” and “Jurassic Park.”
Sundance Party Pictures: Matt Damon, Sting, Nick Jonas, Diplo, Kate Beckinsale (Photos)
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The scene on the opening weekend of the Sundance Film Festival 2016 includes Kate Beckinsale, Matt Damon, Chelsea Handler, Sting, Paul Oakenfold, and more at parties, panels, and screenings around Park City.
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What a Cannes move! Kristen Stewart jumped in with the photographers at the "Certain Women" premiere.
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Matt Damon popped in to Park City for the movie he produced, the hot festival title "Manchester By the Sea".
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Whit Stillman, Kate Beckinsale, and Chloe Sevigny focus on the "friendship" part of film 'Love & Friendship" while making the rounds.
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Natasha Lyonne gets a boost from pal Casey Affleck.
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Recent Golden Globe nominee Michael Shannon's band "Corporal" played the basement of Cisero's on Tuesday night on the eve of the "Frank and Lola" premiere.
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Ryan Eggold and Brooklyn Decker's crew decided it was time for a "fun one".
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Annalynne McCrod (Patriots fan) was cheering early as the Ainsworth hosted a day-long football viewing party in the TAO space.
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Missi Pyle was making the rounds on Sunday with her four month old baby Zooey, catching a mom space at the Ainsworth football party.
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Women In Film gave out $32,000 in cash and grants at its 10th annual brunch on Sunday, continuing to service its mission of achieving gender parity on and off screen.
On hand from the back row: Meera Menon, Clea Duvall, "Tallulah" director Sian Heder, Stacey Wilson Hunt, Sheena Joyce, Maggie Greenwald, and kneeling in the front row, Women In Film Executive Director Kirsten Schaffer, Women In Film President Cathy Schulman and Lucy Webb.
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Mikey Glazer
Snow began falling in Park City on Saturday afternoon.
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Paul Oakenfold photobombs Mimi Griswold, Brody Jenner, and Octavia Spencer at Chefdance.
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"Manchester by the Sea": Charlie Day, John Krasinski and Casey Affleck at the Chase space.
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Craig Robinson and Allison Janney take a mini-groupie at the Kari Feinstein Style Lounge on Saturday.
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Geoff Stults has been seen on the slopes, at the Nylon/Dream Hotels Apres Ski, and here at the "White Girl" party.
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Craig's came to Sundance: The Melrose avenue restaurant proprietor popped up for a dinner party in honor of "Goat" hosted by Phil McIntyre and V Magazine.
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Team "Tallulah" gives star Ellen Page a lift.
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"Birth of a Nation": Gabrielle Union and Nate Parker arrive at Tao on Saturday night upstairs. Downstairs, the Tequila Don Julio farm truck took its rightful place in what is a parking garage the other 362 days of the year. Moet Nectar Imperial Rose Luminous flowed late in to the night.
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IMDb's Emily Glassman buddies up with Hannah Simone.
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Jared Harris popped in to UCLA School of Theater, Film, and Television's reception on Saturday.
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John Legend executive produced "Underground", and had a long line down Main Street for their Saturday night party in the Vida Tequila lounge after a sneak peek premiere.
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Executive producer John Legend and Tribune Media CEO and President Peter Liguori at the WGN America "Underground" party
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Keegan-Michael Key and Kenneth Lonergan share a laugh at "Manchester by the Sea" on Saturday night.
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Starz is one of many TV companies premiering series at the fest. "The Girlfriend Experience" got a strong reception. Vanity Fair's Krista Smith (left) joined with Starz CEO Chris Albrecht (center) for a party on Saturday night at Wasatch. Star Riley Keough was in the house.
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Hugh Jackman and Director Dexter Fletcher celebrated "Eddie the Eagle" with antioxidant Bai superfood sips at a lunch on Tuesday.
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Meanwhile, media power women lunched together at Mimi Griswold's house at Glamour's "Women Rewriting Hollywood" get together. The crowd included..
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...Dawn Ostroff, Cindi Leive, Katie Couric, WIF's Kristen Schaffer and Cathy Schulman, and Lena Dunham.
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Another group of power women in music took the Sundance conclave to huddle together in unity: Power DJ's Mia Moretti, Michelle Pesce (Chief, Nona Entertainment), Daisy O'Dell, and Nona artist Alex Merrell.
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Pesce with Jeff Vespa and Jonathan Segal at Vespa's Verge party on January 23.
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Lisa Edelstein and Jeff Baena at the "Joshy" reception in the Stella Artois lounge.
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The same Stella lounge also hosted Molly McCook and Annalynne McCord for "Trash Fire" on Saturday night.
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The losing D.A. in the O.J. Simpson trial, Gil Garcetti, attended ESPN's "30 for 30" premiere of the 7-hour documentary mini-series about O.J at the KIA Supper Suite on Friday. In addition to being L.A. Mayor Eric Garcetti's dad, the former D.A. is now a photographer.
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The scene on the opening weekend of the Sundance Film Festival 2016 includes Chelsea Handler, Sting, Sophia Bush, and Elijah Wood at parties, panels, and screenings around Park City.
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Kevin Smith pops in on a Kia Sorento "Celebrity Ride".
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Morgan Neville, Chelsea Handler, and Eddie Schmidt celebrate the long-awaited Chelsea Handler Netflix debut "Chelsea Does" on Friday night, the day before the series began streaming.
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Two guys who broke out big in the last 12 months convene at TAO: Nick Jonas and "Fargo's" Jesse Plemmons.
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Sting popped up to sing "Message in a Bottle" with Dave Kushner, Donovan Leitch, Chris Chaney, and the rest of the Hellcat Saints at Cisero's on Friday night. After an exchange of text messages on Friday, the group and the leader of "The Police" synched up.
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At the intersection of film and music, Juliette Lewis also sang with the Hellcat Saints.
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"Miles Ahead": Ewan McGregor, Emayatzy Corinealdi, and Don Cheadle put the "lounge" in lounge.
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The past and present of TV (and film) at the Cinema Cafe: Norman Lear and Lena Dunham.
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"I was talking to a woman who said she was crying tears after the screening of 'Other People' last night," Sundance Institute Executive Director Keri Putnam told TheWrap on Friday. "She went in to the bathroom and it was an entire bathroom of crying women." Putnam and Samsung CMO Marc Mathieu announced a long-term partnership with the Sundance Institute.
"We are making VR more accessible by partnering with the best in the industry to deliver a growing library of engaging, rich content for our Gear VR which is all made possible by our latest Galaxy devices," Mathieu said.
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Adam Scott, Naomi Scott, Bradley Whitford, and Judd Apatow shed their coats at the Eddie Bauer Adventure House.
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"Wiener Dog": Zosia Mamet and Kieran Culkin find a quiet corner of the Chase Sapphire space.
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Questlove arrives at the Kia Supper Suite to spin Spike Lee's dinner party.
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Paul Dano (with Zoe Kazan) and castmate Mary Elizabeth Winstead toasted “Swiss Army Man” at the WME | IMG lounge with Tequila Don Julio.
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Sophia Bush headed down to Samsung Level's Late Night underground lair at the top of Main Street where Diplo spun for a crowd that mixed lucky consumer winners with agents, executives, and media, like newly minted WhoSay Editor-In-Chief Kirstin Benson who was on scene.
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Life & Style served Svedka concoctions at their Saturday afternoon party, but before they packed up for Park City, a grip of beauties stepped in to host a "Broken Resolutions" party (like eating donuts) at Hyde Sunset: Rita Ora, Emily Ratajkowski, Jamie Chung, and Jessica Szohr.
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Diplo, the man responsible for the resurrection of Justin Bieber. The ceiling in the underground club rattled when songs like "Holy Grail" played.
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Meanwhile at the bottom of Main Street, TAO kicked off it's first night of the hosted nightclub party. "It’s the one real big event we do a year that’s for marketing," Tao Group Director of Entertainment Marketing told TheWRAP. "It’s private, you can’t buy your way in to. It’s for VIPs and celebrities. It’s super different than any of our other stuff." Producer Lawrence Bender is visible in the center.
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After the Samsung gig, Diplo showed up with Vice in the booth. They would not be a duo for long...
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At one point, chart-toppers The Chainsmokers (bottom right), Diplo, Vice, Politik, and South Beach nightlife personality Purple Miami (center in the lumberjack shirt) all crowded in. Elsewhere in the room, Chicago hospitality chief Billy Dec (The Underground, Rockit, Sunda) also checked in at what has become a key summit of the entertainment marketing community.
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While outside... "We’ve gotten to the point in the last two, maybe three years, where we don’t send out an invitation anymore," Fass said. "We don’t send out an evite or a blast or anything. Probably starting in November, people start emailing me about it. Literally...Thanksgiving."
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They pulled partner Tequila Don Julio's farm truck right in to the underground garage.
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Earlier on Friday, Sundance fixture Adrian Grenier samples one of the innumerable VR stations around Park City. He is here talking up his Lonely Whale Foundation, something he discussed with TheWRAP last year:
Also Read: Sundance: ‘Entourage’s’ Adrian Grenier on New Doc: ‘We’re Gonna Crowdfund This Bitch’ (Video)
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Good luck boys. There is no time to actually finish this chess match.
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Netflix chiefs Reed Hastings (CEO) and Ted Sarandos (Chief Content Officer) flank the new Netflix talent.
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"Orange is the New Black" writer/producer Sian Heder chats up her project "Tallulah" (with star Ellen Page) at the Samsung Studio on Friday afternoon.
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Elijah Wood goofs around in the Applegate diner on Friday.
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Julie Delpy, Danny DeVito, and Zosia Mamet are three of the many people talking about "Wiener-Dog", which follows the life of a dog moving around the country.
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In unrelated canine cinema, Sophia Bush's new pal is up for adoption. Visit the Petcube corner of Kari Feinstein's Style Lounge for more details.
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Austin Lyon, Nick Jonas, Ben Schnetzer, and Gus Halper at the Eddie Bauer Adventure House.
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That Danny DeVito..funny guy.
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KISS rocker Paul Stanley's knowingly hokey "Rock 'N Roll" themed restaurant at LAX hosted the Delta Festival Shuttle pre-flight brunch. Robin Buss-Kaplan, Paul Stanley, and Delta's Ranjan Goswami.
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Onboard, 160 film industry movers, from Lowercase Capital, Funny or Die, UTA, Awesomeness, Big Frame, and talent like Paul Scheer and May Elizabeth Winstead and more, flew together.
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Craig Robinson, Rena Ronson, and Jay Gasner at altitude. None of them won the round trip first class flights to Shanghai or Sydney that were raffled off.
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Robert Redford, Keri Putnam, and John Cooper at the annual "Day 1 Press Conference".
A continually updating gallery on the social scene in Park City from The Party Report’s Mikey Glazer
The scene on the opening weekend of the Sundance Film Festival 2016 includes Kate Beckinsale, Matt Damon, Chelsea Handler, Sting, Paul Oakenfold, and more at parties, panels, and screenings around Park City.