Chinese multi-screen entertainment and media giant Youku-Tudou held a press conference yesterday 11th to announce that they will bring in premium content with a total value of 10 billion yuan to enhance their paid content service.
As part of the efforts, Ali Sports, the sport unit of Chinese e-commerce giant Alibaba, masterminded by Jack Ma, announced their team-up with Youku on sports. The partnership will make the current sports resources purchased by Ali Sports, such as NFL and FIFA Club World Cup, available for pay-users of Youku. The team-up also includes leading sports clubs’ official TV channels on Youku.
Additionally, the two companies will work together to provide a ticketing service for the UEFA European Championships, Olympic Games, and sports-related tourism and derivatives.
Back in November 2015, Jack Ma’s Alibaba announced it had completed its major acquisition of Youku-Tudou by shelling out $3.67 billion to get its hands on the remaining shares in the company.
Prior to this, Alibaba, the world's largest e-commerce services provider, had invested $1.2 billion for a 18.3% share in Youku-Tudou and offered to buy out the remaining 81.7% for $26.60 a share.
Proofread by John Devlin.