Patrick Frater Asia Bureau Chief Box office hit “Lost in the Stars” was a contributor to the April to June profits recorded by Chinese tech giant Alibaba’s digital media and entertainment division.
The division, which spans streaming, ticketing, film production and distribution and web browser, recorded earnings before interest, taxation and amortization (EBITA) of $9 million (RMB63 million).
That follows many years of losses, including $126 million (RMB907 million) of EBITA losses in the equivalent quarter last year.
The division’s positive EBITA was achieved on revenues that increased by 36% to $747 million (RMB5.38 billion). During the quarter, generalist streaming service Youku’s total subscription revenue grew by 5% year-over-year, primarily driven by increasing average revenue per user and the uplift that came from successful new content.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.