HONG KONG SAR – Media OutReach – August 15, 2023 – Alibaba Pictures Group Limited (stock code: 1060, referred to as the “Company” or “Alibaba Pictures”), which has embarked on its dual-engine strategy combining content and technology, has recently achieved a significant breakthrough in its ticketing platform as part of the technology business. “Taomai VIP” (淘麥VIP), established only two years ago, hit a new membership record, surpassing 15 million as of March 31 this year. To date, the number of “Taomai VIP” members has officially exceeded 20 million, with growth of more than 30% in just over four months.
The technology business is an important part of the Group’s strategy and a driver in building the Group’s pan-entertainment infrastructure. Currently, the segment mainly includes platform ticketing, digitization and other businesses. “Taomai VIP” is the industry’s first joint membership program for “movies + performances” launched by Tao Piao Piao and Damai.
Alibaba Pictures has become the biggest dark horse in the summer box office, accounting for nearly half of the box office total
The significant jump of “Taomai VIP” is attributed to both the strong recovery of China’s film and entertainment market and the improved online and community operation capabilities of its platform. To date, according to data from Beacon Professional, the box office of the 2023 summer season (June 1 to August 31) has reached RMB 17 billion for movies and RMB 3.069 billion for shows. The strong recovery in the film and entertainment markets has led to the rapid growth of the consumer entertainment market.
It is worth mentioning that the strength of Alibaba Pictures’ “content” has further boosted the popularity of the summer box office. To date, Alibaba Pictures has a significant presence in several high-profile films, such as “Lost in the Stars” and “No More Bets” in which Alibaba Pictures is involved as a producer, distributor and lead promoter; “Chang An” in which Alibaba Pictures played a significant role; “Mission: Impossible – Dead Reckoning Part One” in which Alibaba Pictures participated as an investor. These films all achieved remarkable success at the box office, contributing nearly half of the summer’s box office revenue and cementing Alibaba Pictures’ unbeatable position at the top of the industry.
“Taomai VIP” continuously improves its consumption scenarios and member benefits, aiming to create the ultimate entertainment experience
With the remarkable recovery of the movie and entertainment market, the “Taomai VIP” membership program has undergone constant improvement to provide users with outstanding ticket purchase experiences, highly anticipated content privileges and personalized services. This commitment fosters a thriving ecosystem for entertainment consumption.
In the summer of 2023, the “Taomai VIP” membership program introduced many exclusive benefits for entertainment consumers, providing a multi-dimensional and multi-sensory consumer experience for ticket purchasing and entertainment consumption. Since its launch in July 2021, “Taomai VIP” has been dedicated to expanding its range of membership benefits. Currently, it offers a full suite of privileges and services that cover a wide range of movie scenarios and performances. These include one-time-price movie and show deals, free ticket redemptions and refunds for Black Diamond movies, electronic and physical movie memorabilia, RMB19.9 movie qualifying vouchers , RMB8 IMAX vouchers, free movie passes, show tickets, priority/premium ticket purchase for shows, and a range of movie and show related merchandise.
Moreover, with the recovery of the show market, “Taomai VIP” has become the first choice for purchasing tickets in mainland China. “Taomai VIP” has actively collaborated with video platforms, online music platforms and local lifestyle services to allow members to redeem vouchers and coupons from other platforms using their points.
In the future, the “Taomai VIP” membership program will continue to iterate member benefits. In addition to existing consumption scenarios, it will deepen cooperation with platforms such as Alipay, Youku and Fliggy. More benefits will be added to the existing membership program, bringing more growth to the industry.
Li Jie, Chairman of Alibaba Picturessaid, “The offline entertainment industry has entered a ‘golden summer’. These wealthy “Taomai VIP” members are not only the main group of offline entertainment consumers, but also important supporters of the healthy development of China’s entertainment industry. “Taomai VIP” will continue to deepen cooperation with upstream and downstream industry partners, refine the operation of the membership program, and provide members with richer entertainment content and long-awaited benefits, to continuously expand consumption scenarios and add vitality to the offline entertainment market. »
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