Alibaba's entertainment division, Alibaba Pictures Group, was recently reported to have scored distribution rights in China for the South Korean romance-thriller film "Life Risking Romance." The company will have full distribution rights for theaters and online platforms in China.
"Life Risking Romance" was directed by prominent director Song Min-kyu who is also the producer of "My Way." The film stars South Korean sensations Ha Ji-won and Chun Jung-myung. Also on the bill is Chinese actor Chen Bolin.
"Life Risking Romance" is scheduled to open in South Korean theaters within the fourth quarter of the year, according to Business Times. The official release date of the film in the Chinese market is still unset.
The film was a joint production between B.A. Entertainment and Novus Mediacorp. Novus Mediacorp, along with its investor and ancillary distributor is part of the Singaporean-listed Spackman Entertainment. The same mini-conglomerate that owns Zip Cinema responsible for major productions like "Cold Eyes," and "The Priests."
In a statement acquired by Variety, Spackman Entertainment chairman Charles Spackman said, "The partnership with Alibaba Pictures to distribute our film allows us to make headway in China and reach a wider audience."
Alibaba Pictures Group's latest rights acquisition came is just days after the company announced that it might see bigger losses than originally anticipated due to an unexpected marketing move of its online ticketing platform. The company said that it is expecting net losses during the first half of the year to be around 450 million Yuan or roughly $60 million.
Despite the recent deterioration of ticket sales in the Chinese film industry, many market analysts are still positive that the market will continue to grow to be the biggest in the world. Major production companies are also tying up with local Chinese distributors in their effort to have their films marketed in the lucrative market.
