Alibaba Pictures and T&B Media Global are joined by Thai Prime Minister Srettha Thavisin to announce a groundbreaking partnership aimed at enhancing Thai-Chinese cultural exchanges through entertainment. Mr. Zheng Yong, Chief Technology Officer of Alibaba Digital Media & Entertainment Group, along with Dr. Jwanwat Ahriyavraromp, Founder and CEO of T&B Media Global, have unveiled a multi-tiered strategic partnership and innovative cooperation that is set to redefine the entertainment industry. Simultaneously, the two companies are committed to advancing cultural exchanges and strengthening the close relationship between China and Thailand. The collaboration also focuses on the development of immersive entertainment technologies that promise to bring new and immersive experiences to audiences worldwide.
Dr. Jwanwat Ahriyavraromp, Founder and CEO of T&B Media Global, stated, "The strategic cooperation focuses on three key areas. The first is collaboration in AI (Artificial Intelligence) and virtual human development. Alibaba Pictures Group and T&B Media Global will work together to create virtual humans for use in film and television productions, as well as innovate content creation through Artificial Intelligence Generated Content (AIGC). The goal is to lead in AI development and virtual human creation for the entertainment industry.
The second area of collaboration is in the field of film and television distribution. Both parties will work closely to leverage their local capabilities to support the distribution of each company's films and TV series in their respective countries. This will result in a more diverse collection of high-quality films and TV series for audiences in both countries.
The final collaboration involves the joint creation of Intellectual Properties (IP). Both countries will leverage their respective resources and channels to expand into the wider global market.
This exciting collaboration is one to watch, and both parties believe that it will further strengthen the close relationship between the two countries and contribute positively to society."
The honoured guests who participated in the strategic collaboration announcement ceremony included: Ms. Yang Weigang, Secretary of the Party Committee & EVP of Youku at Alibaba's Media and Entertainment Group, Mr. Zhou Peng, Head of Overseas Business at Youku at Alibaba's Media and Entertainment Group, Mr. Wang Ye, Head of Digital Human Business at Alibaba's Media and Entertainment Group, Ms. Wang Ying, Project Manager at Alibaba's Media and Entertainment Group.
The announcement of the strategic collaboration was held in Beijing, People's Republic of China, as part of a continuous effort by the Tourism Authority of Thailand (TAT). They organised a signing ceremony known as the "Memorandum of Understanding," together with 8 Chinese companies. The goal of this collaboration is to promote tourism, cultural exchange between China and Thailand, and advance Thailand's tourism industry through innovation and global industry elevation. The ceremony was attended by His Excellency Srettha Thavisin, the Prime Minister of Thailand, along with leading national businessmen, including Mr. Dhanin Chearavanont, the Senior Chairman of the Charoen Pokphand Group, Mr. Soopakij Chearavanont, the Chairman of the Charoen Pokphand Group, Mr. Suphachai Chearavanont, CEO of the Charoen Pokphand Group, Mr. Pakkhapon Ngamlak, Chief Operating Officer of Charoen Pokphand Group, who attended the TAT event and listened to the vision of the strategic collaboration between Alibaba Pictures Group and T&B Media Global.
The strategic collaboration between Alibaba and T&B Media Global will fully leverage each company's strengths, capabilities, and resources to deliver high-quality entertainment experiences to audiences in China and Thailand. In addition, the new entertainment experiences will serve as a vehicle to promote Thai-Chinese soft power in the global market.
Currently, China's entertainment and media industry is experiencing significant growth and is closely watched as it is the world's largest film market. PwC estimates that China's total annual revenue is expected to grow significantly to $470 billion USD by 2027, representing an expansion of 6.1% over the next five years, which is higher than the global average of 3.5%. Surveys indicate that China's box office revenue has reached a staggering $132 billion, representing 27% of the global film market.
Thailand's media and entertainment industry is projected to reach $17 billion USD in 2025, with an average annual growth rate of 4.45% from 2021 to 2025. A significant transformation in the industry involves the incorporation of AI to enhance content production and creativity across the gaming, film, television production, and music segments.