Sohu to spin off web video unit
By Ding Yining |
July 15, 2011, Friday
|
Print Edition
Print Edition
INTERNET portal and online game operator Sohu Inc is eying to spin off and list its online video unit to tap into rising advertising revenue in the online video sector.
"Our video business is aiming to become the leader in the market in terms of viewing duration and listing is our target in the next phase," Chief Executive Officer and Chairman Charles Zhang has said, without elaborating on a specific timetable.
Last month, Sohu appointed Liu Chun, former executive director at Phoenix TV, as vice president at Sohu and chief operating officer of Sohu Video, a move which was regarded as a clear signal for its intention to spin off its video business.
Advertising revenue on China's online video sites more than doubled from a year ago in the first quarter this year to US$662 million and Sohu has a 13 percent market share, the third largest in terms of advertising income, according to research firm Analysys International.
Sohu's Liu said last month in Shanghai that he planned to documentaries for the site to diversify its content.
"The spin off will give Sohu very rich capital to expand more content and upgrade its technology to outpace its competitors, but it will not take place in the near term," Tang Yizhi, a researcher at Analysys International, commented.
"Our video business is aiming to become the leader in the market in terms of viewing duration and listing is our target in the next phase," Chief Executive Officer and Chairman Charles Zhang has said, without elaborating on a specific timetable.
Last month, Sohu appointed Liu Chun, former executive director at Phoenix TV, as vice president at Sohu and chief operating officer of Sohu Video, a move which was regarded as a clear signal for its intention to spin off its video business.
Advertising revenue on China's online video sites more than doubled from a year ago in the first quarter this year to US$662 million and Sohu has a 13 percent market share, the third largest in terms of advertising income, according to research firm Analysys International.
Sohu's Liu said last month in Shanghai that he planned to documentaries for the site to diversify its content.
"The spin off will give Sohu very rich capital to expand more content and upgrade its technology to outpace its competitors, but it will not take place in the near term," Tang Yizhi, a researcher at Analysys International, commented.
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