Youku Signs Content Deal With Twentieth Century Fox for Growing Youku Premium Platform

Youku Inc.
2012-01-11 21:08 1315

BEIJING, January 11, 2012 /PRNewswire-Asia/ -- Youku Inc. (NYSE: YOKU), China's leading Internet television company ("Youku"), announced a deal with Twentieth Century Fox Home Entertainment today under which Youku will license 250 titles of new release and library films. The titles will appear on Youku Premium, Youku's on-demand platform, which has processed more than one million orders since launching in beta a year ago.

Number of pay-per-view transactions on Youku Premium more than tripled between Q2 and Q3 of 2011. As of November, a growing percentage -- 13.5% -- of Youku Premium users paid more than once per month to view premium content.

"We have been working closely with Hollywood studios in providing quality content to millions of Chinese Internet users while effectively protecting intellectual properties," said Huilong Zhu, Vice president of Movie Operations and Corporate Development. "We are encouraged by the growth of the Youku Premium platform, and our new licensing agreement with Fox will make Youku Premium more compelling for our users."

"We're eager to make our entertainment content accessible to the widest audience possible in China," said Jamie McCabe, Executive Vice President, WW PPV, VOD & EST. "With Youku's on-demand platform, consumers can easily enjoy our films online with a quality viewing experience."

The 250-film deal will grant Youku Premium the right to offer Fox's new release films and library titles. Film franchises have performed well on Youku Premium, with new theatrical releases driving online interest in previous installments in the franchises, and the new deal includes online rights to some of Fox's most beloved franchises including Planet of the Apes, Ice Age, X-Men and Alien. The films will begin appearing on Youku Premium this month, ahead of the Chinese New Year holiday in late January.

Youku is the leader among China's online video sites in introducing a new model for content distribution under which recently released films become available for on-demand viewing for a certain period of time, after which they may become available either to premium plan subscribers or for free on-demand viewing. Titles licensed under the new agreement with Fox will be available purely on a transactional pay-per-view basis, without a subscription or free on-demand component.

About Twentieth Century Fox Home Entertainment

Twentieth Century Fox Home Entertainment, LLC (TCFHE) is a recognized global industry leader and a subsidiary of Twentieth Century Fox Film Corporation, a News Corporation company. Representing 75 years of innovative and award-winning filmmaking from Twentieth Century Fox, TCFHE is the worldwide marketing, sales and distribution company for all Fox film and television programming, acquisitions and original productions on DVD, Blu-ray Disc Digital Copy, Video On Demand and Digital Download. The company also releases all products globally for MGM Home Entertainment. Each year TCFHE introduces hundreds of new and newly enhanced products, which it services to retail outlets from mass merchants and warehouse clubs to specialty stores and e-commerce throughout the world.

About Youku

Youku Inc. is China's leading Internet television company. Our Internet television platform enables users to search, view and share high-quality video content quickly and easily across multiple devices. Youku, which stands for "what's best and what's cool" in Chinese, is the most recognized online video brand in China. Youku's American depositary shares, each representing 18 of our Class A ordinary shares, are traded on NYSE under the symbol "YOKU."

For more information, please contact:

Media Relations:
Jean Shao
Director, International Communications
Youku Inc.
Tel: +86-10-5885-1881 x7128

Investor Relations:
Ryan Cheung
Corporate Finance Director
Youku Inc.
Tel: +86-10-5885-1881 x6090

Source: Youku Inc.