Shanghai, China, March 26, 2014 － Alibaba Group's digital entertainment business group today announced the launch of the Yu Le Bao (娱乐宝) platform. By investing as little as RMB100, users of the platform can potentially earn investment returns from top-notch and popular television and movie projects. They may also enjoy the privilege of paying visits to TV and movie sets and meeting their favorite superstars. The first batch of investment projects will accept preorders via the Yu Le Bao platform from today. The official launch of sales will be coming soon.
Users can access the Yu Le Bao preorder page via the Mobile Taobao application and invest in entertainment projects of their choice. The total investment amount of the four projects in the first phase is RMB73 million. Board lots of TV and movie projects have been priced at RMB100, while board lots of online game projects have been priced at RMB50. Individuals can purchase up to two board lots of each project.
The first batch of investment projects available on the Yu Le Bao platform include "Tiny Times 3" and "Tiny Times 4," directed by Guo Jingming and starring Yang Mi; "Wolf Totem," a movie based on a best-selling fiction starring William Feng and Shawn Dou; "Impossible," a 3D fantasy-comedy directed by Sun Zhou and starring Wang Baoqiang and Xiaoshenyang; and "Mofan Xueyuan," the world's first celebrity-themed, large-scale social networking game in which fans can interact with Fan Bingbing.
"The influence of Internet innovation on the cultural industry is no longer restricted to movie ticket sales but has expanded to investment and content production," said Liu Chunning, president of the Alibaba Group digital entertainment business group. "Yu Le Bao aims to provide a grassroots investment platform to bring the public closer to the cultural industry. In the future, public investors will even be able to select the directors, heroes and heroines of a movie or TV show."
The investment projects available on the Yu Le Bao platform not only deliver an expected annualized return of 7%, but also bring fans of the directors and stars additional perks such as opportunities to attend producer meetings, movie screenings, props auctions, filming locations visits, as well as access to exclusive authorized e-magazines, celebrity autographs and so on.
Movie producers can also collect first-hand user feedback via investors of Yu Le Bao, such as preferences for movies and TV drama directors, actors and screenplays. More importantly, with the investment made by Yu Le Bao users, a huge, loyal audience base can be tapped for new movie projects at early stages of production. Upon commencement of filming, fans can also potentially interact with producers via online platforms such as Laiwang.
In the initial phase, investments made via the Yu Le Bao platform will be used to purchase insurance and wealth management products offered by Guohua Life. The funds will be then invested in the cultural industry.
About Alibaba Group
Alibaba Group's mission is to make it easy to do business anywhere. Founded in 1999, the company is committed to developing a technology-driven commerce ecosystem for the benefit of consumers, merchants and service providers. Alibaba Group's major businesses include Taobao Marketplace (www.taobao.com), China's most visited online shopping destination according to Alexa.com; Tmall.com (www.tmall.com), China's leading online mall for quality, brand-name goods; Alibaba.com (www.alibaba.com), the leading global wholesale platform for small businesses; AliExpress (www.aliexpress.com), a popular international e-marketplace for consumers; and Alibaba Cloud Computing (www.aliyun.com), a developer of platforms for cloud computing and data management. Alipay (www.alipay.com), China's leading online and mobile payment solution, is an affiliate of Alibaba Group.