Thursday, November 16, 2017

Step Aside Jet Li, There's a New Hero in Town!


WSJ LINK

E-commerce giants Alibaba and their owner, Mr. Ma, have had a successful campaign in their respective industry. Alibaba group is most widely known for their "Singles Day" sales which is a day to celebrate unattachment. Singles Day sales is the equivalent to America's "Black Friday" where thousands of deals are all jampacked into one day. Because this deal is for a "limited time only", it urges consumers and non-consumers (people that didn't plan on spending a penny) to buy things! The group started this festival in '09 and has set new sales record every year, this year hitting a new record at an astonishing $25.3 Billion.

However, Alibaba has since ventured into the world of entertainment; music, videos, and movies. Since 2015, Alibaba groups has invested hundreds of millions of dollars into the entertainment industry but still, no success. Many economists suggest that Alibaba stick to what they're good at, and rightfully so. They have had a great run in the E-commerce industry. They shouldn't tocontinue wasting their money in an industry that is let alone difficult to succeed in, but is also unrelated to their main company.


"...There is an old saying in showbiz: How do you make a small fortune in Hollywood? Start with a big one and wait."




Alibaba has released a trailer with the CEO Mr. Ma, showcasing his Kung Fu against some of the greatest to do it such as Jet Li and Donnie Yen. This is yet another attempt for them to get recognition in the film industry. The trailer was a hit, amassing over a 100 million views in just a few days. However, critics are still skeptical whether Alibaba will be able to succeed in the film industry. Is Alibaba targeting the right audience? We will see.

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