Alibaba to Form Steering Group to Coordinate Culture, Entertainment Businesses
Yicai Global
/SOURCE : Yicai
Alibaba to Form Steering Group to Coordinate Culture, Entertainment Businesses

(Yicai Global) June 16 -- Alibaba Group Holding Ltd. [NYSE:BABA] plans to set up a steering group to coordinate production of its culture and entertainment content in order to raise the work to the group's strategic level, according to an internal email sent to staff yesterday by CEO Mr. Zhang Yong.

Companies and units previously scattered across the music, movie and video businesses are set to become a joint force. Alibaba will gradually evolve into a big picture comprised of various segments, Mr. Zhang said. The 'Happy Segment,' which includes the culture and entertainment industry, is a core segment, as well as part of Chairman Jack Ma's 'Double H' (Health and Happiness) strategy.

In recent years, the e-commerce heavyweight has expanded its presence in the culture and entertainment fields. It bought Xiami Music in 2013 and took over UC Browser in 2014, as well as set up its own UC mobile unit. This April, Alibaba completed the privatization of Youku Tudou, a video-streaming website.

The group's culture and entertainment segment will include Alibaba Pictures Group Ltd. [HKG:1060], Heyi Group (previously Youku Tudou Co.), Alibaba Music, Alibaba Sports, UC Mobile Group, Alibaba Games, Alibaba Literature, and Alibaba's digital entertainment unit.

Steering group members will include senior executives from the aforementioned companies and units. Mr. Gu Yongqiang, chairman of Heyi Group, has been appointed chairman of the group and will assist Mr. Zhang in drawing up strategies for the culture and entertainment segment. Mr. Yu Yongfu, president of Alibaba's mobile business unit, will serve as the group's head, responsible for management.

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