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Alibaba floats a $300 mn fund for film & TV

MUMBAI: Chinese company Alibaba has established a $300 million fund for film and television.

Alibaba PicturesThe fund will focus on investment opportunities of companies in the movie and television entertainment industry chain under the four key pillars of production development, celebrity resources, marketing and distribution, and advanced technology.

“In recent years, the Chinese entertainment industry, which has mainly been driven by movies, has undergone rapid development. Bountiful investment opportunities and immense room for integration have emerged both upstream and downstream of the industry value chain,” said Alibaba Pictures CEO Zhang Qiang.

One of Alibaba’s recent movies was ‘Star Trek Beyond’.