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Alibaba buys 60% stake in film/TV production firm in online video push

  • Alibaba (ABABA) is spending $805M to buy a 60% stake in ChinaVision Media, a Hong Kong-based producer of films and TV dramas.
  • The deal represents a big expansion of the Chinese e-commerce giant's attempts to carve a foothold in China's fast-growing and fragmented online/mobile video market. Though Youku (YOKU) remains the market's biggest player, strong competition is provided by Baidu, Sohu, and Tencent.
  • Alibaba, Baidu, and Tencent have been constantly finding ways to encroach on each others' turf. Yesterday, Tencent announced it's buying a 15% stake in #2 Chinese e-commerce firm JD.com.
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Comments (4)
  • Zonata
    , contributor
    Comments (34) | Send Message
     
    What about KUTV? Per Alexa stat, KUTV is almost up to YOUKU in term of viewers. Yes, their financials are a mess, but it doesn't mean it is not one of the major player in the video space. However, KUTV's strategy relies on UGC.
    11 Mar 2014, 05:04 PM Reply Like
  • rfc2616
    , contributor
    Comment (1) | Send Message
     
    KUTV plays bad in China. The leading video site in China is iqiyi.com + pps, youku.com + tudou.com. And I think KUTV is almost among the least good choice of online video market player in China.
    12 Mar 2014, 03:42 AM Reply Like
  • Zonata
    , contributor
    Comments (34) | Send Message
     
    On what basis do you say that? KUTV is the 19th most popular website in China! A year ago I would have agreed and KUTV still need to monetize, but it seems to me the game has changed. Also, when I ask Chinese student, they do not seem to agree with your statement.
    12 Mar 2014, 09:52 AM Reply Like
  • JillKennedy
    , contributor
    Comments (72) | Send Message
     
    With all the deals that have been made lately between Hollywood and Chinese entertainment companies, I am pretty sure it means that Hollywood is basically helping to fund Chinese propaganda:
    12 Mar 2014, 12:57 AM Reply Like
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