Tag Archives: video

Tencent Ties Up With Korean Gamer, Eyes Youku Tudou

By on
Tencent goes shopping for games, video

Internet leader Tencent (HKEx: 700) has just announced a major purchase involving a Korean game maker, in what would normally be leading news on the Chinese Internet. But instead, the company is making bigger headlines on talk that it’s nearing a deal to buy 20 percent of leading online video firm Youku Tudou (NYSE: YOKU) for a smaller amount. The 2 deals collectively would be worth about $1 billion, which these days doesn’t seem like big news anymore for China’s rapidly consolidating Internet. Read Full Post…

Tencent Eyes Sohu Video, Merger Ahead?

By on
Sohu eyes video tie-up with Tencent

Just a half year after pooling their online search assets, leading web firm Tencent (HKEx: 700) and the much smaller Sohu (Nasdaq: SOHU) are reportedly in talks to also merge their video businesses amid a broader wave of consolidation sweeping China’s Internet. I have some doubts about whether this new deal will happen for reasons I’ll explain shortly, though I’m far less skeptical now than I would have been at this time a year ago. If such a deal does happen, it could mark the latest step in what could become Tencent’s eventual acquisition of Sohu, one of China’s oldest Internet companies. Read Full Post…

iQiyi Taps Baidu Roots With IPO Plan

By on
Baidu’s iQiyi eyes 2014 IPO

Boosted by the big success of the IPO for its money-losing Qunar (Nasdaq: QUNR) online travel unit, Internet search leader Baidu (Nasdaq: BIDU) is reportedly aiming to test investor appetite for a similar offering next year for its loss-making iQiyi online video unit. Frankly speaking, I don’t think this plan looks very good for a number of reasons, led by the fact that money-losing firms aren’t very attractive in general to investors. Qunar has been the only money-loser of 5 Chinese tech companies to make New York IPOs in the last 2 months, and I wouldn’t be at all surprised if investors were attracted to the firm chiefly for its strong ties to Baidu, its controlling stakeholder. Read Full Post…

Hollywood, Rivals Ambush Baidu With Piracy Lawsuit

By on
Baidu snared in video piracy lawsuit

In what looks like a highly coordinated ambush, a group of China’s top online video sites have teamed up with Hollywood to sue Internet search leader Baidu (Nasdaq: BIDU) for video piracy. This is the first time I can recall seeing big western names team up with Chinese companies to launch such a major lawsuit, creating not only legal headaches but also a huge wave of negative publicity for Baidu. The action also comes as Baidu makes a series of major moves in the online video space in a bid to challenge industry leader Youku Tudou (NYSE: YOKU), which is also one of the co-plaintiffs in this new lawsuit. Read Full Post…

PPLive, Phoenix Video Initiatives Offer News Alternative 凤凰新媒体与PPLive的新尝试

By on

Two of China’s up-and-coming Internet firms, video sharing site PPLive and new media site Phoenix New Media (NYSE: FENG) are getting bold in their bid to attract more viewers by offering news and current affairs programs in a quiet but clear challenge to Beijing’s state-run media establishment. In the most recent development, Chinese media are reporting that PPLive, one of the country’s hottest video sites and a frequently mentioned IPO candidate, has formed a tie-up with Xinhuanet, the online arm of the state-run Xinhua news agency, to create a joint venture to produce short news segments for streaming online. (English article; Chinese article) That news comes just a week after Phoenix New Media said it has launched its own online current affairs program (company announcement) on its online site. Both initiatives are part of a broader trend that has also seen video sharing leader Youku (NYSE: YOKU) also announce development of its own original programming in recent weeks. (previous post) This latest gamble looks very calculated and is also a smart move by both PPLive and Phoenix, both seeking to top demand for interesting alternatives from viewers tired of watching the same old state-sponsored newsspeak on TV. By choosing the well-connected Xinhua as its partner, PPLive should avoid angering Beijing too much, even as it explores interesting new formats and topics that central propaganda officials might consider inappropriate for mainstream TV. Likewise, Phoenix New Media is also well connected to propaganda officials through its parent, Phoenix Satellite Television (HKEx: 2008), which operates the only privately-owned and quite successful news channel in China. If one or both of these initiatives succeed, which seems likely, look for others like Youku and even Web portals like Sina (Nasdaq: SINA) and Sohu (Nasdaq: SOHU) to follow with similar news video offerings in the months ahead.

Bottom line: New online video news shows by PPLive and Phoenix New Media look like smart moves with a good chance of success, aimed at Chinese consumers looking for more news alternatives.

两家後起的中国互联网公司新秀——视频分享网站PPLive和新媒体网站凤凰新媒体(FENG.N)为吸引更多观众，作风可谓大胆。他们通过提供新闻和时事节目向官方媒体发起了无声但明确的挑战。最近有中国媒体报导称，PPLive计划与新华网络电视台合作成立一家合资公司，制作新闻短片。此前一周，凤凰新媒体表示，公司已在其网站上推出了在线时事节目。视频分享网站优酷网(YOKU.O)最近几周也推出了其原创节目。这些最新举动看起来是精心策划，PPLive和凤凰新媒体的举动也颇为明智，两者都在寻求满足观众多样化的观看需求。PPLive在探索寻找宣传部门可能不适宜主流电视媒体的有趣新模式和话题，与人脉广大的新华社合作，应避免过份激怒中国政府。同样，凤凰新媒体通过凤凰卫视(2008.HK)也与宣传部门的官员保持着良好的关系。如果这些想法获得成功，目前看来成功机会也很大，优酷甚至新浪(SINA.O)、搜狐(SOHU.O)等门户网站也有望在未来数月提供类似的新闻视频节目。

一句话：PPLive和凤凰新媒体提供的新型在线视频新闻看来是明智之举，且成功机率很大，因中国消费者正寻找更多类型的新闻节目。

Related postings 相关文章:

◙ Hulu Makes First Global Stop in Japan, China Next?

◙ Youku’s New Formula: Sponsored Programs 优酷“新配方”：赞助项目

◙ Sina Taps On Back Door Into Tudou 新浪可能收购土豆

Hulu Makes First Global Stop in Japan, China Next?

By on

And the winner is … Japan. That’s the word coming from Hulu, the popular video streaming site backed by 3 top Hollywood studios, which has just announced that Japan will be the first stop in its international expansion. (company announcement) The fact that China wasn’t chosen isn’t all that surprising, as Japan and most of Western Europe boast far wealthier consumers to buy the mostly paid programming services offered by Hulu, whose primary backers include Disney (NYSE: DIS), News Corp (Nasdaq: NWS) and Comcast’s (Nasdaq: CMCSA) NBC Universal. But what’s interesting for China watchers is the language towards the bottom of the announcement, where Hulu describes itself as a company with offices in “Los Angeles, New York, Chicago, Seattle, Tokyo and Beijing.” That’s the exact wording, with Tokyo and Beijing listed as Hulu’s only offices outside the US, in that order. Does that mean that China will be the next stop on Hulu’s global expansion? I would say there’s a good chance the answer is “yes”, given the recent flurry of Hollywood deals to provide content to the growing number of Chinese video and music sites under growing pressure from Beijing to delete illegal content and offer legal material instead. Top online video site Youku (NYSE: YOKU) has been a leader in the recent trend, signing deals with Warner Brothers (NYSE: TWX) and Philips Electronics (Amsterdam: PHG) (previous post), while leading search site Baidu (Nasdaq: BIDU) also recently signed a deal with several major record labels to offer legal copies of their music. (previous post) The timing also looks particularly good for Hulu, as it could offer its programs not only over the Internet, but also potentially over a state-of-the-art digital home cable network being rolled out soon by China Telecom (HKEx: 728; NYSE: CHA) or via a future similar network being created through an ongoing national cable TV consolidation plan. If the Japan roll-out goes smoothly, I’d look for a Hulu announcement in China possibly as early as the end of this year, but more likely in 2012.

Bottom line: Hulu’s move to Japan presages a move into China for the second stop on its global expansion, most likely in 2012.

Related postings 相关文章:

◙ Youku’s New Formula: Sponsored Programs 优酷“新配方”：赞助项目

◙ After Years, Baidu Does the Right Thing 百度多年来的一个正确之举

◙ TV Programers Dial Up Success on Internet 电视电影制片商迎来网络商机

 

Youku’s New Formula: Sponsored Programs 优酷“新配方”：赞助项目

By on

At first glance, video sharing site Youku’s (NYSE: YOKU) new announcement regarding the creation of a new video series together with Dutch electronics giant Philips (Amsterdam: PHG) looks like little more than PR, which led me to pay little attention when it landed in my email box. (company announcement) But closer inspection reveals a more innovative tie-up, which has Philips essentially paying for the creation of an exclusive new video series for Youku in exchange for sponsorship rights, much the way advertisers pay for traditional TV series with their advertising dollars. According to Youku, the first episode of the series, about a young designer trying to win back his girlfriend from a wealthy man, was viewed 2 million times in its first 24 hours — numbers that would make most TV channels envious. While I’m still not completely convinced about Youku’s long-term viability as a stand-alone online video provider, initiatives like this, which are costing it nothing and bringing in millions of viewers, look like a smart formula for success as the money-losing company seeks ways to turn a profit. This latest effort follows another Youku initiative back in June, when it became China’s first big portal to sign a licensing deal with a major Hollywood studio, in this case offering content from Warner Brothers (NYSE: TWX) to its premium subscribers. (pervious posting) These kind of initiatives are exactly the kind of thing that Youku and video- and music-sharing rivals like Tudou (Nasdaq: TUDO), Xunlei and even Baidu (Nasdaq: BIDU) need to be doing in order to ensure their long-term viability. Recent talk that Youku may be in talks with for an equity tie-up with China Internet leader Tencent (HKEx: 700) (previous post) are making this company look like an even stronger bet to maintain its position as China’s leading online video site, and potentially even a profitable one in the near future!

Bottom line: Youku’s foray into sponsored video series looks like a good move with strong future potential as it weans itself from pirated content.

乍看起来，中国视频分享网站优酷(YOKU.N)与荷兰电子厂商飞利浦(PHG.AS)联合出品系列网络电影的新项目不过是公司公关而已，所以一开始邮箱里出现这条消息时，我并未在意。但是进一步的观察发现，其实这一合作还有着非常创新的一面：飞利浦其实通过出资为优酷创作独家网络电影，以换取赞助权。据优酷介绍，系列电影第一支短片《爱有多久》首映24小时内，点播量高达200万，这一数字足以让多数电视频道感到眼红。短片讲述一名年轻设计师如何从一名富翁手中赢回自己的女朋友。虽然我对优酷能否长期扮演在线视频提供者的角色还存有质疑，但此类创意举措，用不着优酷花钱，还能吸引数以百万计的观众，看起来像是优酷寻求扭亏为盈的“巧妙配方”。此前，优酷6月份宣布与华纳兄弟(TWX.N)合作，由优酷通过视频付费点播服务，向高端用户提供450部华纳影片，并成为第一家赢得好莱坞主流片商授权的中国大型门户网站。此类做法正是优酷、土豆(TUDO.O)、迅雷，甚至百度(BIDU.O)等类音乐与视频分享网站需要去做的事情，因为这样可以保证他们的长久生命力。而且最近还有传言称优酷可能正在与腾讯(0700.HK)洽谈股权合作事宜，似乎意味着优酷保持国内在线视频网站领头羊的机率更高，甚至有可能近期扭亏为盈。

一句话：优酷涉足有赞助的网络电影项目看似是明智之举，未来颇为看好，有助于其摆脱盗版内容。

Related postings 相关文章:

◙ Video Sharing: Let the Tie-Ups Begin

◙ Tudou IPO Set to Stumble Out of the Gate 土豆上市首日难有精彩表现

◙ Youku, TCL Discover Hollywood in New Tie-Ups 优酷、TCL双双联手好莱坞大品牌

Tudou Name Tossed Around as IPO Looms IPO临近 土豆网新闻多

By on

I have to say that video sharing site Tudou gets this year’s award for most mentioned company in media reports in the run-up to its bumpy IPO, with new wrinkles in this strange story sprouting up in the media almost daily. After reporting last week the company was in talks to sell part or all of itself to leading online search site Baidu (Nasdaq: BIDU) (previous post), Chinese media went on to say the company was also in talks with leading online video site Youku (NYSE: YOKU), as well as another online video site called LeTV (Shenzhen: 300104). (English article; Chinese article) Meantime, international media reported about the same time late last week that Tudou’s $180 million IPO — which was originally set for late last year but got delayed due to Chairman Gary Wang’s messy divorce — had been fully subscribed, with pricing set for Tuesday and an official trading debut on Wednesday. So, what’s going on here? Clearly Wang is trying to wheel and deal his way to a deal that will give his company the highest valuation possible, and he’s most probably seeing better valuations from a sale of his company than he is for an IPO. Cash-rich Baidu and Youku are most likely offering the best deals, but both of those would almost certainly require Wang to step down as chairman — something he and heads of similar Chinese companies are usually reluctant to do. An IPO would obviously allow Wang to stay on as chairman, and it’s quite possible the company or its bankers are deliberately leaking rumors about acquisitions to the media to stir up investor interest in an otherwise chilly IPO market. If I were a bettor, I would put my money on the IPO going forward, with a 70 percent chance of success. Among the private buyers, Baidu probably stands a better chance than Youku, as the former can offer more money and also the small possibility that Wang can continue to run the business. Stay tuned for an interesting finale to this rocky but colorful IPO later in the week.

Bottom line: Tudou is likely to go ahead with its $180 million IPO, declining lucrative buyout offers as chairman Gary Wang opts for control of the company over cash.

不得不说，土豆网在走向IPO的道路上，算得上是今年中国媒体提及最多的一家企业了，关於土豆的新闻几乎天天不缺。上周媒体报导，百度<BIDU.O>正在洽购土豆，中国媒体现在又称土豆也在与优酷网<YOKU.N>、乐视网<300104.Z>洽谈。同时，国际媒体上周大约同一时间报导，土豆1.8亿美元IPO已经获得足额认购，定价日定於本周二，周三为首个交易日。那麽，到底是什麽情况？显然土豆网董事长兼CEO王微有着自己的算盘，想要按照自己的方式为公司争取最高的估值，而且他可能觉得出售公司的估值比IPO的会更高。百度、优酷最有可能给出好报价，但两家公司几乎一定都会要求王微辞任董事长，这是他与其他很多类似中国企业的负责人都不愿意做的事情。IPO显然可以让王微保住董事长的职位，而且极有可能是土豆自己或帮助其上市的投行故意向媒体透露收购传闻，以激起投资者对公司IPO的兴趣。如果要赌的话，我会把钱压在IPO上，胜算七成。土豆的各家求购者中，百度的机会可能要比优酷大一些，因为百度给的钱可能会更多，而且王微还有很小的机会继续管理公司。土豆曲折离奇而又多姿多彩的IPO本周稍晚如何落幕？大家不妨拭目以待。

一句话：土豆可能会继续推进IPO，拒绝其他企业的收购报价，因为在权、钱衡量中，王微更倾向於掌控公司的控制权。

Related postings 相关文章:

◙ Baidu Seeks Diversification in Tudou Talks 百度求购土豆，寻求多元化

◙ Tudou IPO Moves Forward Despite Headwinds 土豆网“逆风”上市

◙ Tudou Nears IPO Despite Strong Headwind 土豆网逆流而动决意上市

Baidu Seeks Diversification in Tudou Talks 百度求购土豆，寻求多元化

By on

Finally there’s a bit of news out ther about online search leader Baidu (Nasdaq: BIDU) that I like, with Chinese media reporting the company is in talks to buy Tudou, one of China’s top online video sites. (English article; Chinese article) Regular readers of this blog will know that I consider Baidu a classic one-note samba, relying on search-related advertising for almost 100 percent of its revenue despite numerous failed attempts to diversify into other businesses. (previous post) But in this case, a purchase of Tudou, a relatively successful company in the online video sharing space, would make great sense for both companies and could ultimately help Baidu achieve its evasive goal of deriving profits from something besides search. Tudou is clearly in dire need of cash, based on its determination to go forward with a delayed IPO despite facing the worst market for such offerings since the financial crisis of 2008. (previous post) So from Baidu’s perspective, it could probably take advantage of Tudou’s need for cash and turbulence on Wall Street to buy the company for a very good price. From Tudou’s perspective, Baidu would be an extremely strong partner in two ways. Most importantly, Baidu could tinker with its search results, which it already frequently does, to favor Tudou over other video sharing sites like industry leader Youku (NYSE: YOKU). In addition, Baidu could also use its industry clout to help Tudou sign favorable licensing deals for legal video, as Beijing pressures China’s Web firms to offer more legitimate content instead of the pirated material they have thrived on for years. Youku made a step in that direction when it signed a deal in June with Warner Brothers (NYSE: TWX) (previous post), and Baidu itself signed a similar tie-up with major music labels last month. (previous post) If Baidu does reach a deal for Tudou, it will have a bit of work to do, as the company posted a loss of $12 million in the second quarter, triple the $4 million loss for Youku. Baidu Chairman Robin Li could also find it challenging to work with Tudou founder Gary Wang, whose messy divorce held up his company’s IPO which was originally slated for late last year. But Wang’s weak financial position may leave him with little choice than to sell out, with Baidu offering one of the best potential partners.

Bottom line: Baidu could achieve its elusive goal of diversifying beyond its core online search business with a potential purchase of online video sharing site Tudou.

百度(BIDU.O)终于有条合我口味的新闻了。据中国媒体报导，百度正在洽谈收购土豆网。经常浏览我博客的读者们知道，我一直认为百度是只有一个舞步的桑巴，近乎100%的收入依赖于搜索相关的广告，虽然有一些尝试业务多元化的动作，但多是无果而终。但就此案例而言，土豆网是一个运作相对成功的网上视频分享网站，购买它对两家公司都有很大意义，而且最终有可能帮助百度增加营收渠道。土豆如此糟糕时机下仍坚持IPO，明显是急需资金。所以，从百度的角度出发，充分利用土豆的资金需求以及华尔街的震荡，它也许可以用很好的价格买下土豆。再从土豆的角度来看，百度是一个非常强有力的合作夥伴。最重要的是，百度可以对页面搜索结果稍作调整，使土豆的内容相比优酷等竞争对手显示在搜索结果更有利的位置。另外，百度还可利用其行业影响力，帮助土豆签下有利的合法视频许可协议。目前政府正施压中国网络企业提供合法内容，弃用盗版内容。优酷网(YOKU.N)在这一方向上已经迈出了一步，6月份公司与华纳兄弟(TWX.N)签署合作协议。而百度上月也宣布与多家唱片公司联手合作。如果百度确实为土豆达成了类似协议，那麽土豆可能有一些功课要做，因为公司第二季度报告亏损1,200万美元，是优酷的三倍。此外，百度董事长李彦宏也可能会感到与土豆创始人王微共事有些麻烦。要知道土豆网IPO原本定在去年底，正是因为王微复杂的离婚纠纷拖延了IPO时间。但是鉴于土豆网目前财务状况，王微除了出售公司外选择寥寥，而百度正好是最好的潜在合作夥伴之一。

一句话：百度如果收购土豆，可能从单一搜索业务模式逐渐走向多元化。

Related postings 相关文章:

◙ After Years, Baidu Does the Right Thing 百度多年来的一个正确之举

◙ Tudou Nears IPO Despite Strong Headwind 土豆网逆流而动决意上市

◙ Baidu’s One-Dimensional Growth Story Continues 百度亮丽财报难掩前景不确定性

Xunlei’s Incredible Shrinking IPO 迅雷IPO规模缩水 纽约首秀或破发

By on

What once looked like one of the year’s hottest China IPOs, that of video and music sharing site Xunlei, is rapidly looking like one of the biggest failures, the victim to negative publicity about both the company itself and questionable accounting practices of Chinese firms in general. Chinese media are reporting that Xunlei has lowered the price range for its offering, originally set for Wednesday in the US but now moved to Thursday, to $12-$14 per share from a previous $14-$16 due to weak demand. (Chinese article) At that new range, it would raise around $78 million, far less than the $100-plus million it was originally targeting. So what happened on the road to market to derail such a once-promising company, whose backers include local and global search leaders Baidu (Nasdaq: BIDU) and Google (Nasdaq: GOOG)? At the company level, Chinese media reports that seven major record labels, including Sony Music (Tokyo: 6758) and Warner Music (NYSE: WMG) are suing Xunlei for 20.5 million yuan surely isn’t good. (Chinese article) That figure translates to a relatively small $3 million. but the bigger picture is that China is pushing its major Web sites to rid themselves of pirated music and video, as evidenced by big content deals between the major global media companies and leading online video site Youku (NYSE: YOKU) and Baidu over the last two weeks. Xunlei has much less resources than these two sector leaders, and investors are probably scared that a clean-up of pirated material from the site could lead to a big drop in traffic. From a broader perspective, the IPO is coming to market as sentiment toward Chinese companies has chilled in recent weeks over a recent series of accounting scandals that have undermined investor confidence. With all that going against it, Xunlei is facing strong headwinds as it prepares to join the ranks of US-listed China firms.

Bottom line: Xunlei’s upcoming IPO will struggle out of the gate, and is likely to fall in its New York trading debut amid weak sentiment and a major lawsuit against it.

视频和音乐分享网站迅雷IPO原本是中国今年最热门的IPO之一，受该公司负面报导和中国赴美企业会计丑闻影响，迅雷IPO看似将迅速成为最大败笔之一。中国媒体报导称，由於认购情况不佳，迅雷已将发行价区间从之前的14-16美元下调至12-14美元，并将IPO时间从周三推迟至周四。按照新的发行价区间计算，其融资额将降至7,800万美元左右，远远低於原先上亿美元的目标。迅雷上市进程中到底发生了什麽，致使这样一个曾前途无量、获百度<BIDU.O>和谷歌<GOOG. O>支持的公司陷入当前困境？从公司层面上来看，中国媒体报导称，索尼音乐<6758.T>和华纳音乐<WMG.N>等七大唱片公司起诉迅雷侵权，索赔2,050万元，此事自然对迅雷影响不好。索赔金额换算一下不过300万美元，但该事件的大背景是，中国正敦促国内各大网站清除盗版音乐和视频，优酷<YOKU.N>和百度在过去两周分别与大型全球媒体公司签署内容协议即是例证。迅雷的资源远远少於优酷和百度，投资者或担忧，清除盗版内容，或导致其访问量大幅下降。从更广泛的角度来看，中国赴美企业近期系列会计丑闻重挫投资者信心，迅雷IPO适逢市况不佳之时。综上所有不利因素，迅雷赴美上市将面临强劲阻力。

一句话：迅雷赴美IPO路途多舛，由於市况不佳，并遭大唱片公司侵权起诉，迅雷纽约首秀或将破发。

Related postings 相关文章:

◙ China, US Move to Ease Confidence Crisis 中美合作解决在美上市中国企业的信任危机

◙ Xunlei’s Rich Parentage List Grows 迅雷投资方阵容强大

◙ Youku, TCL Discover Hollywood in New Tie-Ups 优酷、TCL双双联手好莱坞大品牌