Netflix buys rights to another show from Alibaba’s Youku in bid to reach Chinese diaspora
- The US streaming video giant acquired the rights to a romantic comedy called I Hear You
Netflix is acquiring the rights to another show from Alibaba Group Holding’s Youku video service, stepping up efforts to serve Chinese-speaking viewers around the world.
The US streaming video giant purchased the rights to a romantic comedy called I Hear You. Netflix will stream 24 episodes of the show in 190 countries and regions from May 15, Alibaba said in a statement. Financial terms were not disclosed.
Netflix has been investing in Chinese-language programming for distribution outside China, where foreign streaming video services are unable to operate without a local partner.
Demand for that content is growing, and entertainment companies want a bigger slice of the market.
It is the second content deal the two companies have struck, as New York-listed Alibaba seeks to become the partner of choice for US companies trying to reach Chinese consumers.
“We see growing interest from international distributors,” Brandy Zhang, chief editor of Youku’s online series division, said in a statement. “We want to create even more quality content that resonates with viewers around the world.”
