(Yicai Global) Sept. 1 -- Alibaba Pictures Group Ltd. [HK:1060] more than tripled its first-half operating revenue on internet advertising and distribution business growth.
The company reported first-half income of USD160 million (CNY1.06 billion), marking an annual increase of 313 percent, in its interim results yesterday.
The group's internet advertising and distribution business income rose 331 percent to CNY913.9 million and accounted for 86 percent of total revenue.
Internet advertising and distribution business refers to the operation of an O2O (Online to Offline) system that offers users an online movie ticket purchasing service and cinemas a ticketing scheme. Dianying.taobao.com serves as the business' core platform.
The website participated in the production, distribution or promotion of up to 11 films in the first half. They brought in more than CNY7.3 billion at box offices. Dianying.taobao.com provides online ticketing and seat selection services for nearly 7,000 theaters, covering over 97 percent of cinema box offices in China.