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

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Comments (4)
  • Zonata
    , contributor
    Comments (36) | 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 + pps, + 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 (36) | 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 (69) | 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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