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Ahead of US Listing, Alibaba Promotes Its Crowdfunding Play on Chinese Pop Idol
September 17, 2014
Tags: SMG, Alibaba
SMG and the Alibaba Group have announced that starting from Season 2 of “Chinese Idol,” viewers will be able to invest directly in the production in exchange for proceeds from the show via Alibaba’s Yulebao crowdfunding app.
According to SMG, “investors” in season 2 will be receive an expected 7 percent return on their investment along with the chance to input on the creative direction of the show. The project is slated to raise RMB100 million (US$16.2 million) towards the production.
Previously, Yulebao had been used to solicit funds from the public for film projects such as last year’s smash hit “Tiny Times.”
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