Alibaba Pictures, the movie and TV
Content business controlled by the Chinese e-commerce giant, is in talks to buy
a majority stake in Chennai based Orbgen Technologies Pvt. Ltd, which operates
ticket booking platform TicketNew.
TicketNew, founded in 2008, who
goes by only one name, charges a convenience fee from users for booking
tickets. It also gets a small fee from theatre owners for software installation
and app development. Alibaba Pictures was earlier known as ChinaVision
Media Group Ltd. Alibaba acquired a majority stake in ChinaVision in March 2014
for $804 million. In China, Alibaba Pictures manages its ticketing business
through subsidiary Tao Piao Piao.
The company has invested in
Hollywood movies such as Mission: Impossible – Rogue Nation and Star
Trek Beyond. In October, Alibaba Pictures picked up a
minority stake in celebrated Hollywood director Steven Spielberg’s Amblin
Partners, with an aim to co-produce and finance films for both global and
Chinese audiences. Alibaba Picture’s entry could change the dynamics of
ticketing, which is currently dominated by BookMyShow, the most funded internet
company in this space.
TicketNew is a technology-led
entertainment services provider, integrating movie theatres, film distributors,
production houses, events and sports with consumers. TicketNew customer
base comprises of ticket brokers, venue managers, affiliate marketers, ticket
retail customers, sports professionals, concert and event promoters, and
software vendors, among others. TicketNew Box Office Suite is installed
in more than 1,000 screens in over 10 countries, covering a wide range from
single-screen independent theatres to some of the largest cinema chains in the
world.
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