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October 29, 2009

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Tudou expects to break even

TUDOU.COM, which will invest 100 million yuan (US$14.75 million) on content, expects to break even next year, thanks to booming advertising income and growing mobile business, the Chinese video Website said yesterday.

Tudou is probably the first firm to break even in the non-profit and fiercely competitive Chinese online video market, which has attracted millions of dollars of venture capital for several years, analysts said.

Tudou has also tied up with China Mobile to launch video content on cell phones.

"Content is king," said Gary Wang, Tudou's founder and chief executive. "We are ready to invest strategically and financially to bring Tudou from UGC (user-generated-contents) sharing to an online video powerhouse within the next 12 months."

Under the investment plan, Tudou will expand its ties with copyright owners via purchasing, revenue sharing or co-producing to grow its high-definition and copyright content. Its partners include Shanghai Media Group, China Film Group Corporation, Hong Kong's Emperor Entertainment Group, TVB, Beijing TV and Hunan TV.

Tudou's main income will still be generated from advertising, whose market size is expected to rebound after the financial crisis, analysts said.

In 2009, the Chinese online ad revenue is set to reach 21.64 billion yuan, a 27.2 percent growth annually, said iResearch, an IT consulting firm.



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