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LeTV, Tudou unite to share copyrights

(China Economic Net)

15:09, November 11, 2011

Edited and translated by People's Daily Online

Beijing, Nov.11 (People's Daily Online) --Two Chinese video websites and made an agreement to work on a new video platform and found a joint venture to strengthen copyright control.

According to LeTV's financial statement, it currently has network copyrights for 50,000 episodes of TV shows and 4,000 movies. LeTV owns 70 percent of the exclusive network copyrights for popular TV shows in 2011.

Liu Hong, the COO of LeTV, said a joint venture will benefit both websites by avoiding irrational competition for copyrights.

LeTV has great advantages in copyright reserves. Meanwhile Tudou is the most influential video website, with a huge user base in China. Tudou also leads in terms of advertisement, marketing and wireless platforms.

The cooperation between the two websites is good for improving the utilization of LeTV's videos. It is said the cooperation will be valid for two years.

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