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Monday, Oct 7
Youku strikes content deal with international production giant
- Youku (YOKU) has reached a multi-year content deal with FremantleMedia, the Bertelsmann unit responsible for producing American Idol, X Factor, Project Runway, and many other popular shows. 202 hours of programming will be made available in year 1.
- Youku's content spend has been growing rapidly, as the company tries to stay ahead of Baidu, Sohu, and other rivals in a competitive Chinese online/mobile video market. Youku's content costs rose 46% Y/Y in Q2 (outpacing rev. growth of 30%), and equaled 40% of revenue.