While local film and television industries in countries like China are booming right now, Hollywood remains the undisputed leader of the market across the globe. That’s why Alibaba, which has already made some significant investments in the Chinese entertainment industry, has made its first push into Hollywood by investing in the most recent addition to the Mission Impossible franchise. 

Alibaba today announced that it has invested in the latest Mission Impossible installment as part of a deal between Paramount Pictures and Alibaba’s film wing, Alibaba Pictures. Mission Impossible: Rogue Nation, once again starring Tom Cruise, is set for a global release on July 31 and will be the first such blockbuster co-production of its kind for Alibaba, which is China’s biggest ecommerce company. Unlike some of its local competitors in the streaming video segment, Alibaba has thus far not been directly involved in bringing films into China. Alibaba intends not only to be involved in co-financing the film but it has also extended its involvement to promotion, ticketing, and merchandising. Alibaba says that it a will be selling tickets through its Taobao Movie store, a service featured on its flagship ecommerce marketplace Taobao. Alibaba has investments spread throughout the entertainment sector including in its online video service, Alibaba TV, and an 18.5 percent stake in Youku, China’s top video site.