Posted 06/15/2015 at 8:37 AM
Posted 2 years ago
China’s powerful e-commerce giant Alibaba is gearing up to make a brisk entry into the streaming video industry.
The company’s head of digital entertainment, Patrick Liu, announced on Sunday that they were planning to launch their own streaming video service inspired by others like Netflix within the next two months.
The service, named Tmall Box Office or TBO, will stream content purchased from China and other countries.
They will also produce and air their own programs.
Alibaba’s move pushes it into the fray of competition with other domestic streaming video companies like Baidu, Tencent Holdings and Youku Tudou – the latter of which has 16.5 % of its stake owned by Alibaba in a purchase made last year.
All of these companies are spending billions to compile enough content to attract customers.
However, TBO looks to have an edge embodied in the fact that thanks to monthly subscriptions or those based on show-to-show terms, 90 percent of their content is paid for.
It will be available free of charge to users.
Alibaba’s goal “to become like Netflix in the United States” may also see some competition from Netflix itself, which is reportedly looking to make inroads into the Chinese market.