Over the weekend, Oscar-winning director, Steven Spielberg, and Chinese billionaire and founder of Alibaba, Jack Ma, announced a deal to produce and finance movies together.
Spielberg, who is currently Hollywood’s highest-grossing filmmaker, heads Amblin Partners, an entertainment conglomerate that includes Dreamworks Studios, Participant Media, Reliance Entertainment, and Entertainment One. Amblin Pictures will be receiving a minority investment by Jack Ma’s Alibaba Pictures.
Both companies will work together to produce, market and distribute Amblin films in China. China currently holds the second largest box-office in the world, and is set to eventually overtake the U.S.
Spielberg hopes the deal will “bring more of China to America, and bring some more of America to China.”