Youku signs deal to bring 300 Sony films online

Youku Tudou Inc, China's largest Internet television company in terms of audience, said on Tuesday it has signed a five-year deal with Sony Pictures Television to bring more than 300 new and classic Sony Pictures films to the Youku platform.

The move is likely to help Youku Tudou uphold its lead in the online film market as other Internet video sites introduce Hollywood films, talent shows and TV series as they try to narrow the gap with Youku Tudou.

"We are delighted to be working with SPT to enrich our film library," said Huilong Zhu, Youku Tudou's vice-president of movie operations and corporate development. "Our strong working relationships with all eight major Hollywood studios allow us to offer our viewers a wealth of licensed content."

The company has teamed up with other Hollywood studios. Previous deals were made with Warner Bros, DreamWorks, Paramount, Twentieth Century Fox, Disney, NBC Universal, and Lionsgate.

The company did not disclose the value of the deal.

Data from Internet analysis company iResearch Consulting Group showed that Youku Tudou had about 488 million users as of August. Tencent Inc's online video business ranked second, with an audience of 263.5 million.

"Online video platforms, such as Tencent Video, were able to triple its audience since April last year posing a threat to Youku Tudou," said iResearch.