Baidu and PPS expect the transaction to close in the second quarter of 2013, subject to customary closing conditions. Upon completion of the transaction, the PPS online video business will be consolidated into Baidu's financial statements. PPS's online video business will be merged with Baidu's own video platform iQiyi.
UMeWorld (OTCQB: UMEWF) operates UMeLook (www.umelook.com), an online video platform focused on bringing foreign video content to China. UMeLook is deployed through a sophisticated CDN (Content Delivery Network) with broad coverage throughout Mainland China, Hong Kong & Taiwan. UMeLook plans to be a source of foreign video content for the Chinese viewer across any Internet-enabled device within China. UMeWorld intends to focus its future operations on digital media and the digital education market.
According to a recent press release from the company, "China has a population of 550 million "webizens," many of whom are glued to tablets or smartphones as they make their daily commute; mobile users last year totaled 420 million, an increase of nearly 18% from the previous year. However, the competition for "eyeballs" is fierce. Unlike many local online video companies who focus on local TV series and movies, UMeLook is uniquely positioned to provide foreign UGC video content of 3 to 8 minutes duration. UMeLook is targeting Chinese viewers between the ages of 18 and 45 years old who are interested in foreign information, products and brands.”
A recent report from www.iresearchchina.com notes, "Revenue of China online video attained 2.42 billion Yuan in Q1 2013, with a year on year growth of 39.5% and a quarter on quarter drop of 11.0% influenced by decreasing seasonal advertising. As the online video markets are gradually driven by multi-devices, commercialization of mobile internet will affect whole video industry in the future.”
Youku Tudou (NYSE: YOKU) recently signed a deal with SINA Corporation (NasdaqGS: SINA) to promote its video content on PC and mobile platforms.
Youku Tudou reported, "Under the deal, in exchange for access to Youku Tudou's video library, SINA will leverage their PC and mobile platform to promote Youku Tudou's licensed content to its users on Weibo. The multi-screen strategic also draws on huge gains in mobile traffic for both companies – 76% of Weibo's daily active users access Weibo through mobile devices, while Youku Tudou counts 170 million daily mobile views.”
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