During Chinese Lunar New Year, TG‘s Chinese friends said that they were watching video online all day long while they were enjoying their 2-week holidays in China.
One of the movie channels they are watching is PPLive TV (PPLive 視頻網站),which has just secured US250 millions private funding from Softbank. While asking if these movies were legal copy, the answer was affirmative.
They said running an online video site in China was extremely capital-intensive and it would be difficult to those which has no content itself. Yet they were happy to see a strong growth of video site business as they have more choices, more channels to look at.
At present, there are three major types of video sites in China
2. CNTV and local TV stations
PPTV is a China online and streaming video company founded in 2004. It says it has over 105 million active monthly users as of Dec 2010 with primary business in content aggregation of live TV programs and professional produced contents (PPC) including TV shows, drama, movies, sports, news and entertainment programs.
In order to generate a lucrative revenue model, many China video sites are restructuring their business and seeking private fundings or IPOs .
Late last year, China Youtube-version Youku (優 酷) successfully got its IPOs (initial public offering) on the NYSE. Its share price closed at US33.44 on the first trading day, 161 per cent higher than its issued price. The video sharing company was closed at US30.40 on Feb 4.