Mon, Jun 15, 2015 - Page 13 News List

Alibaba outlines ‘China’s Netflix’

IN THE QUEUE:China’s online video market is expected to almost triple in value to 90 billion yuan by 2018, a Shanghai-based Internet consultant said

Bloomberg

Alibaba Group Holding Ltd (阿里巴巴) is planning to build China’s version of Netflix Inc and HBO via a new service called Tmall Box Office, as it tries to serve 600 million families craving entertainment.

Tmall Box Office is to launch in about two months through Alibaba’s set-top box and smart televisions using its operating system, including those manufactured by Haier Group Corp (海爾), Alibaba digital entertainment president Liu Chunning (劉春寧) said at a news conference in Shanghai yesterday.

IN-HOUSE PRODUCTIONS

Some of the video content is to be produced by the company and some purchased from overseas, Liu said.

Alibaba is on a buying spree as it tries to compete with Tencent Holdings Ltd (騰訊控股) for China’s US$5.9 billion online video market.

Alibaba Pictures Group Ltd (阿里巴巴影業集團) completed a HK$12.2 billion (US$1.57 billion) stake sale in Hong Kong to help finance potential acquisitions this month.

Billionaire chairman Jack Ma (馬雲) visited Hollywood in October last year to acquire more content.

‘LIKE NETFLIX AND HBO’

“We want to create a whole new family entertainment experience,” Liu said. “Our goal is to become like Netflix and HBO in the US.”

China’s online video market is expected to almost triple in value to 90 billion yuan (US$14.5 billion) by 2018, Shanghai-based Internet consultant IResearch said.

Wasu Media Holding Co (華數傳媒控股), a Chinese media company backed by Ma, has also held talks with Netflix Inc, as the broadcaster of House of Cards hopes to expand in China, the company said last month.

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