Sunday, June 14, 2015 3:26:23 PM
SHANGHAI | Sun Jun 14, 2015 10:38am EDT
SHANGHAI (Reuters) - Alibaba Group Holding Ltd (BABA.N) will launch an online video streaming service in China in about two months, hoping to emulate the U.S.'s Netflix Inc (NFLX.O) and HBO, the firm's head of digital entertainment said on Sunday.
The service will be called 'TBO', or Tmall Box Office, with content bought from China and other countries, as well as in-house productions, Alibaba's Patrick Liu told reporters in Shanghai.
TBO will launch into a competitive online video market in China, where companies are spending billions of dollars to buy media content to attract enough viewers to become dominant.
Alibaba's new service will go up against the likes of Tencent Holdings Ltd (0700.HK), Baidu Inc's (BIDU.O) iQiyi, Sohu.com Inc (SOHU.O) and Leshi Internet Information & Technology Corp Beijing (LeTV) (300104.SZ).
"Our mission, the mission of all of Alibaba, is to redefine home entertainment," said Liu. "Our goal is to become like HBO in the United States, to become like Netflix in the United States."
It was not immediately clear how the service would fit with Youku Tudou Inc (YOKU.N), one of China's biggest video streaming platforms in which Alibaba bought a 16.5 percent stake last year.
However, unlike the majority of domestic rivals, about 90 percent of TBO's content will be paid for, either by monthly subscription or on a show-by-show basis, Liu said. The remaining 10 percent would be free.
Netflix itself is also considering an entry into China, a notoriously difficult task for foreign Internet companies.
http://mobile.reuters.com/article/technologyNews/idUSKBN0OU0OT20150614?irpc=932
(Reporting by John Ruwitch; Writing by Paul Carsten and Susan Thomas)
Recent IDEX News
- IDEX Biometrics is bringing biometric cards to market with large smart card manufacturer in South Asia • GlobeNewswire Inc. • 05/08/2024 07:30:00 AM
- Ideanomics Announces Receipt of Notice from Nasdaq Regarding Listing Rule 5250(f) • GlobeNewswire Inc. • 04/27/2024 01:27:07 AM
- Ideanomics Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K • GlobeNewswire Inc. • 04/24/2024 09:30:00 PM
- Mutual Trust Bank launches biometric cards with IDEX Biometrics in Bangladesh • GlobeNewswire Inc. • 04/02/2024 06:54:00 AM
- Solectrac Announces Strategic Reorganization to Further Amplify Electrification Efforts and Enhance Customer Support • GlobeNewswire Inc. • 03/27/2024 12:00:00 PM
- Ideanomics Announces Fourth-Quarter and Full-Year 2023 Earnings Call Details • GlobeNewswire Inc. • 03/25/2024 11:56:49 AM
- DenizBank launches biometric payment cards in Turkey based on IDEX Pay • GlobeNewswire Inc. • 03/18/2024 10:30:00 AM
- Turkish bank launches biometric payment cards based on IDEX Pay • GlobeNewswire Inc. • 03/18/2024 08:01:45 AM
- IDEX Biometrics receives IDEX Access production order from Sentry Enterprises • GlobeNewswire Inc. • 03/15/2024 07:30:00 AM
- WAVE Charging Appoints Macy Neshati as General Manager to Spearhead Expansion and Scale • GlobeNewswire Inc. • 03/11/2024 11:58:29 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 03/08/2024 10:13:57 PM
- IDEX Biometrics and UK fintech to launch biometric cards for payment accessibility • GlobeNewswire Inc. • 03/01/2024 08:30:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 10:00:20 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 10:07:27 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 09:30:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/08/2024 09:52:14 PM
- KONA I to introduce biometric smart cards with IDEX Biometrics in Japan • GlobeNewswire Inc. • 02/08/2024 09:59:11 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/31/2024 01:12:21 PM
- Energica Inside Signs Agreement with Nimbus to Provide Customized Electric Powertrain • GlobeNewswire Inc. • 01/30/2024 01:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 01:09:32 PM
- WAVE Charging Sets Industry Milestone with First-Ever OEM-Approved Commercial Wireless Charging Integration in Kenworth's Class 6 Electric Trucks • GlobeNewswire Inc. • 01/24/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/18/2024 12:30:06 PM
- WAVE Charging Announces Receipt of Purchase Order from Leading Retail and Logistics Company • GlobeNewswire Inc. • 01/18/2024 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 12:50:00 PM
- First Planned Deployment of 500kW Inductive Charger to Power Electric Trucks in Cold Climates • GlobeNewswire Inc. • 01/16/2024 12:00:00 PM
FEATURED POET Announces Design Win and Collaboration with Foxconn Interconnect Technology for High-speed AI Systems • May 14, 2024 10:09 AM
FEATURED Element79 Gold Corp Reports Exceptionally High-Grade Results from Lucero • May 14, 2024 7:00 AM
VAYK Added New Manager for Expansion into $64 Billion Domestic Short-term Rental Market • VAYK • May 14, 2024 9:00 AM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM