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Tudou's Q4 losses narrow on rising revenue
By Ding Yining |
March 1, 2012, Thursday
|
Online Edition
Online Edition
CHINA'S second largest online video site Tudou said its fourth quarter losses narrowed as booming online advertising income boosted revenues.
Income rose 70 percent annually to 166.5 million yuan (US$26.5 million) and sales in 2011 was 512.2 million yuan, it said in a statement today. Net losses in the three months ending December 31 was 148.9 million, down from 263.7 million in the corresponding period in 2010.
"We are focused on enhancing user experiences through further integrating our video platform with China's leading social networking platforms and Tudou is set to benefit from the big trend as social media is moving to the mobile Internet end," said Gary Wang, chairman and chief executive officer of Tudou.
Despite its growing revenue, operation costs in the fourth quarter more than doubled to 160 million yuan.
High operation costs to acquire bandwidth and high quality video and film airing rights has long been the woes of domestic online video sites.
Its arch rival Youku, which completed its listing on the New York Stock Exchange, recorded a net loss of US$7.4 million in the third quarter last year.
Last year, the market size of China's online video industry doubled to 6.27 billion yuan and will continue to grow to 12.6 billion yuan this year, according to Internet consultancy iResearch Inc.
Income rose 70 percent annually to 166.5 million yuan (US$26.5 million) and sales in 2011 was 512.2 million yuan, it said in a statement today. Net losses in the three months ending December 31 was 148.9 million, down from 263.7 million in the corresponding period in 2010.
"We are focused on enhancing user experiences through further integrating our video platform with China's leading social networking platforms and Tudou is set to benefit from the big trend as social media is moving to the mobile Internet end," said Gary Wang, chairman and chief executive officer of Tudou.
Despite its growing revenue, operation costs in the fourth quarter more than doubled to 160 million yuan.
High operation costs to acquire bandwidth and high quality video and film airing rights has long been the woes of domestic online video sites.
Its arch rival Youku, which completed its listing on the New York Stock Exchange, recorded a net loss of US$7.4 million in the third quarter last year.
Last year, the market size of China's online video industry doubled to 6.27 billion yuan and will continue to grow to 12.6 billion yuan this year, according to Internet consultancy iResearch Inc.
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