By
James
Hirsen
China's
e-commerce giant Alibaba enjoyed a record-breaking debut on Wall Street last
week, which shook the financial world. Now the massive firm has its sights set
on Hollywood.
Other
digital concerns, including Amazon, Netflix, Hulu Plus, Crackle, and YouTube,
have been making executives in the industry nervous with their incursions into
the entertainment world. Amazon recently intruded into entertainment biz
territory with its funding of original programming designed to stream on its
Prime Instant Video service and containing content intended to compete with
television cable and broadcast networks.
Alibaba’s
massive reservoir of cash, competitive advantages in China, and newfound status
of being the globe’s largest stock market listing make it a digital company
that has the potential to generate an even greater degree of anxiety in the
entertainment business than those previously mentioned. [more...]
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