SINGAPORE (Reuters) – Alibaba Group Holding Ltd’s home entertainment arm has actually signed a licensing arrangement with Walt Disney Co in an offer that will offer the Chinese group’s Youku video streaming platform with the biggest Disney animation collection in China.
Alibaba stated in a news release on Monday that the multi-year licensing arrangement signed in between Alibaba Digital Media and Home Entertainment Group and Disney subsidiary Buena Vista International Inc will see more than 1,000Disney episodes launched on Alibaba platforms that include set-top boxes.
The offer comes as Disney has actually dealt with challenges in getting digital tv material into China. In 2016, its DisneyLife online material endeavor, which it introduced with Alibaba, was closed down by Chinese regulators less than 5 months after operations started. The factor for the shutdown was not revealed.
” The addition of Disney material considerably enhances the library of quality worldwide material on Alibaba’s media and home entertainment community, providing us a leading edge in foreign content circulation in China,” stated Yang Weidong, president of Youku at Alibaba Digital Media and Home Entertainment Group.
Alibaba did not reveal the worth of the offer.
Youku reaches 580 million gadgets and gets about 1.2 billion views every day, inning accordance with Alibaba’s news site Alizila. It stated the platform currently has comparable licensing handle Warner Bros., Paramount, Fox, NBCUniversal and Sony Pictures Tv, to name a few.