Chinese Companies Form Video Content Group
Chinese Internet video providers Sohu video, Tencent video, and Iqiyi.com have together established an organization named Video Content Cooperation to implement deeper cooperation in resource sharing, platform development, copyright protection and broadcasting sector growth.
The three parties will jointly purchase quality video copyright content in China and abroad. Meanwhile, they will share their existing movie and TV series products and promote healthy competition in the Chinese Internet video industry..
Deng Ye, vice president of Sohu.com and chief executive officer for Sohu video, told local media that the three companies are major movie and TV series copyright purchase and broadcasting platforms in China.
Liu Chunning, vice president of Tencent, said the cooperation with Sohu and Iqiyi.com will create strong integrated advantages. It will not only increase the effective use of video contents of the three companies, but also will help maintain the mechanism of the Internet video content copyright market, so as to keep the healthy and orderly development of the related pricing system.
Gong Yu, chief executive officer of Iqiyi.com said that though the overall copyright price has been decreasing since the beginning of this year, it still has some distance from the range of rational trading. The cooperation with Sohu and Tencent will enhance content distribution while promoting the copyright trading to back at rational prices. More importantly, they want to work together to optimize the market structure and stimulate the healthy and rapid development of the Chinese Internet video industry.