Alibaba Inc. a Chinese based company has announced to launch the online video streaming service on the same lines as the Netflix or HBO in the United States.
Alibaba group holding limited, a Chinese based company has announced to launch the online video streaming service in China within a period of two months. This online video streaming service will be established on the same lines as the Netflix Inc. and HBO services are available in the United States. The service announced by the company’s head of digital entertainment this Sunday has been great news for millions of internet users in china who are using the online video streaming services.
Alibaba Group Holding Limited is a Chinese based e-commerce firm which provides business to business, business to consumer and consumer to consumer sales services through the web portals. It offers a wide range of services including a data centric cloud computing services, a shopping search engine and electronic payment services.
The Netflix which provides the largest online video streaming service has not started its services in the China and this is a great opportunity for the Alibaba Inc. to enter into this market as a pioneer and offer the high quality video streaming services to the Chinese audience who were still seeking for a reputable service provider at economical rates.
The newly introduced service will be named as TBO or “Tmall Box Office” and will offer the content bought both from china and other countries and also the in-house productions, the Alibaba’s Patrick Liu announced while talking to the reporters in Shanghai.
The TBO will have to enter into a competitive market of online video streaming services in China where the firms are spending billions of dollars to dominate this particular market. The TBO unlike other companies will have a good chance to dominate the market because of its repute and the trusted name among the Chinese audience and Alibaba will make the most out of this repute and trust. The companies which are already providing these services in the china includes the Tencent Holdings Ltd, Baidu Inc’s iQiyi, Leshi Internet Information & Technology Corp Beijing and the Sohu.com Inc and the TBO will have to compete these video streaming giants to dominate this market which the experts are predicting to be very much likely.
Alibaba also bought a 16.5 percent share in one of the china’s giant video streaming service provider the Youku Tudou Inc and it was not quite clear how it will get along with this service provider.
Our mission, the mission of all of Alibaba, is to redefine home entertainment, Announced Liu while talking to reporters. “Our goal is to become like HBO in the United States, to become like Netflix in the United States.” He added further.
The 90 percent of the content on the newly launched service TBO will be paid for, unlike most of the other companies in the domestic market of China, either by monthly subscription or on a show-by –show basis, said Liu. However the remaining 10 percent content would be free.
The Netflix also have shown some interest to launch their video streaming services in the china but it is not yet finalized as it is a hard job for the foreign internet firms to enter the Chinese market.
However this has been a great news among the Chinese audience who use online video streaming services as they were looking for a reputable company to enter into this market and break the monopoly of the online video streaming service providers which now very much seems likely.