Alibaba Movie Unit's Pivot, Rebrand Bring $2 Billion Value Gain
Damai Entertainment Holdings, formerly Alibaba Pictures Group, is shifting its focus from movies production to faster-growing entertainment segments targeting younger consumers — and investors are taking notice.
Since its May 19 earnings report, which highlighted a pivot toward IP licensing and live events, the company's shares have roughly doubled, making it the top performer on Hong Kong's Hang Seng Composite Index and adding $2 billion in market valuation. Several analysts have since upgraded their outlooks.
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