Tencent bringing Star Wars to China as Youku, Alibaba target US film and TV franchises for booming home streaming market
Streaming video users in China will soon be spoiled for choice for US film and television shows, with three of the country's major internet companies making strides into the entertainment business.
Tencent, China's social and gaming giant, announced this week that it had signed deals with Disney and 20th Century Fox to be the exclusive Chinese distributor for the upcoming Star Wars sequels.
On Tuesday, Youku Tudou, one of China's largest video streaming sites, announced a partnership with Paramount Pictures to bring more than a hundred top titles to its premium subscribers, including Transformers, Shrek, and Star Trek.
"The consumer-driven demand for premium online services in China is growing rapidly," said Victor Koo, chairman and chief executive of Youku Tudou.
"With top-branded content such as Paramount Picture's array of films, our commitment to enhancing our subscription services to create a premium experience and drive consumer-based revenue continues in earnest."