Alibaba Pictures Posts 2017 Loss, Sees Slight Gain In Content Production

In reporting its full-year 2017 earnings, Hong Kong-listed Alibaba Pictures Group said it recorded a 162% increase in revenues, to RMB 2.37B ($375M). However, it saw only a 1% improvement in net losses to RMB 950.3M ($150M). For the first time, the company recorded a slight profit in its content production segment, with RMB 4.1M ($648K). Among the titles it released that helped boost the unit was Once Upon A Time which grossed $82.3M at home.
The group has seen…

In reporting its full-year 2017 earnings, Hong Kong-listed Alibaba Pictures Group said it recorded a 162% increase in revenues, to RMB 2.37B ($375M). However, it saw only a 1% improvement in net losses to RMB 950.3M ($150M). For the first time, the company recorded a slight profit in its content production segment, with RMB 4.1M ($648K). Among the titles it released that helped boost the unit was Once Upon A Time which grossed $82.3M at home. The group has seen…