Alibaba buys 20 % stake in media company

Alibaba buys 20 % stake in media company

Chinese e-commerce giant Alibaba has invested 750 million euro in Wasu Media Holding, which gives it a 20 % stake in the company. The move is Alibaba's next step towards digital content.

Support

Jack Ma, Alibaba's founder, has invested 6.54 billion yuan (750 million euro) in Wasu Digital TV Media Group, alongside several partners. Together, they have signed a cooperation agreement to create online content and internet television.

 

"Alibaba and Wasu Group are optimistic about the future development of China's media industry and will support each other in areas such as original content development, video communication, games, music, education, cloud computing, big data, as well as other areas of future exploration and investment in the media industry", Alibaba told Reuters.

 

20 million subscribers

Alibaba's investment in Wasu Media means it can now access 20 million subscribers, while Wasu also has an internet TV license from the Chinese government and that is exactly what Alibaba will use it for: to distribute digital entertainment content.

 

Alibaba had already worked with Wasu to develop its set-top box that connects televisions to the internet. The box also has several Alibaba services on offer, like an easy access to Alibaba's online shopping centre, Tmall.com.

Questions or comments? Please feel free to contact the editors


Will free home delivery disappear?

15/12/2017

A growing number of online orders also brings additional pressure on the logistical industry. Free home delivery can no longer be maintained according to research company ECC Köln. More flexible options should be installed.

Amazon brings its private labels to Europe

14/12/2017

After it introduced Amazon Prime to an increased number of European markets, Amazon is now bringing in its own FMCG private labels. Over the past few weeks, the online department store launched several private label products in Europe and it has plans for even more. 

Amazon Echo is now available in the Benelux

11/12/2017

Amazon announced it will ship its smart speaker Amazon Echo to another 28 countries, including Belgium and the Netherlands. Its own music streaming service will also get a local launch.

Luxury manufacturers can block retailers from selling on Amazon

07/12/2017

Luxury product manufactures can block retailers from selling their merchandise on online marketplaces like Amazon. The European Court of Justice has ruled on the matter after cosmetics manufacturer Coty filed a complaint.

Surge in mobile sales during Thanksgiving weekend

29/11/2017

During Thanksgiving weekend in the United States, which contains Black Friday and Cyber Monday, there was a big surge in mobile sales. Those two days saw a total sales figure of almost twelve billion dollar (just shy of ten billion euro).

Alibaba reveals its high-tech store of the future

24/11/2017

Amazon Go’s automated supermarkets have not yet arrived, but Alibaba already has its answers ready. The Chinese online retailer has showcased Tmall Supermart, filled with technology: from virtual fitting rooms to facial recognition.

Back to top