Chinese video platform Youku signs licensing deals with NBC Universal, Sony Pictures TV
With China’s paying subscribers expected to reach 140m by 2020, video sites are splurging on licensing Hollywood films and producing original content
Youku subscribers will soon be able to watch movies such as Blade Runner 2049 and the upcoming Jurassic World 2: Fallen Kingdom, thanks to a licensing deal the Chinese video platform signed with NBC Universal and Sony Pictures Television.
Youku, the video platform arm of Alibaba Group Holding and one of China’s top video streaming platforms, announced the deal on Thursday as Chinese video platforms race to offer more premium content to attract paying subscribers. Currently, the firm’s Youku’s content currently reaches 580 million devices and garners 1.18 billion daily views, the company said.
“By cooperating with NBC Universal and Sony Pictures Television to show famous Hollywood films on our platform, we can bring richer global content into Alibaba’s entertainment ecosystem,” said Yang Weidong, president of Youku, Alibaba Digital Media and Entertainment Group.
“I am confident that expanding our relationships with more international studios will further enhance our platform’s penetration into the home entertainment business and push the online video and over the top (OTT) business to greater heights.”
With China’s paying subscriber base expected to reach 140 million by 2020 according to a Jeffries estimate, video platforms are keen to carve out a larger slice of the pie.
