Alibaba’s Movie Ticketing Platform Is Costing Much More Than They Thought

Alibaba Pictures, the Alibaba-backed entertainment firm, has warned investors that the unit foresees greater losses than expected, and their ticketing unit is to blame.

Tao Piao Piao, which until recently was called Taobao Dianying, has overshot its marketing budget amid unexpectedly sluggish box office sales in China.

According to a filing made to the Hong Kong stock exchange on Friday, the firm now expects net losses in the six months ending in June to be up to 450 million yuan (around $60 million USD).

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