BEIJING – The film arm of e-commerce giant Alibaba Group says it will invest in the next "Mission: Impossible" movie in its first venture into Hollywood financing.
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Alibaba Pictures Group Ltd. announced the agreement Wednesday with Paramount Picture Corp. They gave no details of how much Alibaba would invest in "Mission: Impossible — Rogue Nation" but said it will collaborate in online ticketing, promotion in China and merchandising.
The announcement adds to a string of investments by Chinese companies in film production in an effort to capture more of the profits from China's fast-growing market.
Alibaba Pictures said it has established a presence in Los Angeles to pursue other possible investments and collaboration in Hollywood.