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...]