Alibaba Pictures is a wholly owned subsidiary of China Vision and its major business is the production of films and TV shows, the source said.
The move is one of several made by Alibaba in the online video industry this year. It bought its stake in China Vision in March, then a month later bought 20 percent of Wasu Media and also cooperated with Jack Ma co-founded Yunfeng Capital to buy 18.5 percent of Youku Tudou, the country’s largest video website. Ma is executive chairman of Alibaba Group.
Alibaba wants to make money from selling online video content and from the Net traffic generated, industry insiders said, but could not achieve this by only cooperating with Youku Tudou and Wasu Media.
Alibaba will use special video channels on the Taobao and Tmall e-commerce sites to show films and TV shows made by the new company. The viewers must pay to watch the content.
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