BEIJING, June 28, 2011 /PRNewswire-Asia/ -- Youku.com,
Inc. (NYSE: YOKU), China's leading
Internet television company, officially launched its Youku Premium
paid content platform today after signing a digital distribution
agreement with CAV Warner Home Entertainment Co., Ltd., Warner
Bros. Home Entertainment Group's joint venture in China. Under the terms of the three-year
agreement, Youku will add a total of 400 to 450 Warner Bros. New
Releases and Catalog titles to its Youku Premium content
library.
Youku Premium launched in beta in October
2010. Since then, the service has processed 200,000 paid
transactions for its library of more than 300 movies and 3,880
educational programs.
Warner Bros. was one of the first major international studios to
tap the potential of China's
growing premium online video market. The studio first worked with
Youku earlier this year for the launch of the film Inception
on Youku Premium, then in beta. Youku Premium now also has
Harry Potter and the Deathly
Hallows: Part 1 on offer, and will add the conclusion of the
series after its release later this year. Other popular titles,
including the Lord of the Rings trilogy, are also available
for premium online viewing.
"Over the past year," said Dele Liu, Youku's CFO, "we've seen
Chinese Internet users become more sophisticated in terms of what
they'll spend money on. People are increasingly willing to pay for
high quality content, and we take the growth of Youku Premium as a
sign that the market is improving for paid services."
"We spent the time when Youku Premium was in beta making sure
that we had the technology to power the service," said Liu. "Now
we're working to make sure that we've got the content that will set
Youku Premium apart from the competition, and our new agreement
with Warner Bros. is a major step in that direction."
After the success of Inception earlier this year, a
number of Chinese filmmakers made their new releases, including
box-office record-holder Let the Bullets Fly, available for
paid viewing on Youku Premium.
About Youku:
Youku.com Inc. is China's
leading Internet television company. Our Internet television
platform enables users to search, view and share high-quality video
content quickly and easily across multiple devices. Youku, which
stands for "what's best and what's cool" in Chinese, is the most
recognized online video brand in China. Youku's American depositary shares,
each representing 18 of our Class A ordinary shares, are traded on
NYSE under the symbol "YOKU."
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For more information,
please contact:
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Media
Relations:
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Jean Shao
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Director, International
Public Relations
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Youku.com Inc.
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Tel: +86-10-5885-1881
x7128
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Email:
shaodan@youku.com
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Investor
Relations:
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Ryan Cheung
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Corporate Finance
Director
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Youku.com Inc.
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Tel: +86-10-5885-1881
x6090
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Email:
ryan.cheung@youku.com
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SOURCE Youku.com Inc.