Nezha 2 merchandise raises over 18 million yuan in crowdfunding

The amount raised for merchandise of the record-breaking film Nezha 2 made by Alibaba (9988) via crowdfunding has exceeded 18.18 million yuan (HK$19.43 million), more than 180 times higher than its target, according to the mainland e-commerce giant.

Crowdfunding lets companies raise funds to create peripheral products for hit motion pictures, television dramas, or similar forms of intellectual property, and set production quotas according to audiences' favorites and willingness to purchase. Alibaba's Nezha 2-related product crowdfunding aimed to raise 100,000 yuan.

The spring festival cinema smash Nezha 2 has garnered box office sales of at least 6.3 billion yuan, according to data from online movie ticket distributor Taopiaopiao.

Products for one particular movie character, Ao Guang, have reached sales of over 10,000 units, according to Alibaba.

The crowdfunding campaign has made headlines on the hot search list of Alibaba’s platform Taobao for three consecutive days, the company said.

CICI CAO