Source: Media Outreach
HONG KONG SAR – Media OutReach – 15 August 2023 – Alibaba Pictures Group Limited (Stock code:1060, referred to as the “Company” or “Alibaba Pictures”), which is committed to its dual engine strategy featuring content and technology, has recently achieved a significant breakthrough in its platform ticketing under technology business. “Taomai VIP” (淘麥VIP), established only two years ago, has reached a new record high in membership, surpassing 15 million as of March 31 this year. As of today, the membership of “Taomai VIP” has officially exceeded 20 million, with a growth of over 30% in just over four months.
The technology business is an important part of the Group’s strategy and a driving force in the construction of the Group’s pan-entertainment infrastructure. Currently, the segment mainly comprises platform ticketing, digitalization 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 emerged as the biggest dark horse of the summer box office, accounting for nearly half of the total box office
The significant leap of “Taomai VIP” is attributed both to the strong recovery of the Chinese film and performance market and to the improvement of its platform’s online and community operation capabilities. As of today, according to data from Beacon Professional, the box office of the 2023 summer season (June 1 to August 31) reached RMB17 billion for movies and RMB3.069 billion for performances. The strong recovery of both the film and performance markets has driven the rapid growth of the entertainment consumption market.
It is worth mentioning that Alibaba Pictures’ “content” strength has further enhanced the popularity of the summer box office. As of today, Alibaba Pictures has a significant presence in several top-ranking films, such as “Lost in the Stars” and “No More Bets” in which Alibaba Pictures is involved as primary producer, distributor, and promoter; “Chang An” in which Alibaba Pictures played an important role; “Mission: Impossible – Dead Reckoning Part One” in which Alibaba Pictures participated as an investor. These films have all achieved remarkable box office success, contributing to nearly half of the summer box office revenue and solidifying Alibaba Pictures’ unbeatable industry-leading position.
“Taomai VIP” is continuously enhancing its consumer scenarios and member benefits, aiming to create the ultimate entertainment experience
With the remarkable recovery of the film and performance market, the “Taomai VIP” membership program has undergone constant upgrades to provide users with exceptional ticket-buying experiences, highly anticipated content privileges, and personalized services. This commitment fosters a thriving ecosystem for entertainment consumption.
During the summer of 2023, the “Taomai VIP” membership program introduced numerous exclusive benefits for entertainment consumers, offering a multidimensional and multisensory consumer experience for ticket purchases 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 comprehensive suite of privileges and services that cover a wide array of film and performance scenarios. These include buy-one-get-one-free offers for movies and shows, complimentary ticket exchanges and refunds for black diamond movies, electronic and physical movie memorabilia, RMB19.9 qualification vouchers for movies, RMB8 IMAX vouchers, free cinema cards, complimentary performance tickets, priority/premium ticket purchasing for shows, as well as an array of movie and performance-related merchandise.
In addition, with the recovery of the performance market, “Taomai VIP” has become the top choice for ticket purchases 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, President of Alibaba Pictures, said, “The offline entertainment industry has entered a ‘golden summer’. These high-net-worth ‘Taomai VIP’ members are not only the core consumer group of offline entertainment 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 highly anticipated benefits, continuously expand consumption scenarios and add vitality to the offline entertainment market.”
Hashtag: #AlibabaPicture
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