VFX Alibaba Pictures to invest over $150 million in animation, VFX and films globally -

Alibaba Pictures to invest over $150 million in animation, VFX and films globally

Alibaba Pictures, a subsidiary of China’s biggest e-commerce company Alibaba Group, is planning to invest one billion yuan (about $157 million) in a project to support young filmmakers worldwide for three years.

The initiative – a partnership between Alibaba Pictures, Youku Tudou Inc, Beijing Film Academy and the Communication University of China – will groom filmmakers under 45-years- old across the world, said Alibaba Pictures CEO Zhang Qiang.

Selected candidates will get an opportunity to work under one of three noted mentors of film-making: Anthony LaMolinara, winner of visual effects of the 77th Annual Academy Awards, Hollywood director Renny Harlin and Chinese director Zhang Yibai.

The initiative will also provide opportunities for talent in animation, film design, special effects and comedy, Zhang was quoted as saying.

Alibaba Pictures Group is a Chinese film company which was formerly known as ChinaVision Media. Alibaba Group bought a majority stake of the company late last year and renamed it as Alibaba Pictures Group. In June this year it was the largest Chinese film company (in the sense of its net worth), with a market value of $ 9.6 billion.

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