Alibaba to Invest RMB 1 Bln in Open Platform for Film Creators
Tencent Tech, 4/18/17
Alibaba Group's (NYSE: BABA) online video site operator Youku Tudou recently announced that the company, Alibaba Literature, and Alibaba Pictures Group (1060.HK) will jointly invest RMB 1.0 bln on "Project HAO," which aims to provide online movie content creators with an open platform, open IPs, and open resources. HAO is an acronym for Hope, Art, Open.
Alibaba Literature, which is Alibaba's online literature subsidiary, will provide the intellectual property rights for Project HAO, working with Youku Tudou to ensure the supply and distribution of internet movie IPs. Yulebao, the C2B film production investment platform operated by Alibaba Group's film company Alibaba Pictures, will provide the open resources, and offer services for project financing, product placements, merchandise licensing, and comprehensive marketing.
Youku Tudou will create and operate the open platform for online movies, allowing film creators to create a "storefront" on Youku. Creators can upload the film, set the viewing price, attract fans, and accept tips through the platform, which automatically calculates earnings on the back end.
Youku Tudou is also planning to implement a new method of splitting accounts that calculates a film's contribution along multiple dimensions, such as how long viewers watch or how many new subscribers it attracts, as opposed to the current system which only considers the number of views. Youku Tudou will also allow online movies to be ordered on demand independently of membership status.
Youku Tudou is open to all sources of IP that can be incubated into online movies, such as literature, television shows, internet shows, music, games, or animation.
Keywords: Alibaba Literature funding Internet online video intellectual property Alibaba Pictures 1060.HK Alibaba Group open platform BABA Yulebao film content
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