Alibaba Group Holding Ltd is all set to launch a Netflix-like digital entertainment service. The online video streaming service will be rolled out in the next couple of months and will be called TBO-Tmall Box Office.
The dashboard would be furnished with content bought from China and other countries as well as in-house productions (Ali-house), confirmed Patrik Liu, President, Alibaba Group’s digital entertainment business unit.
“Our mission, the mission of all of Alibaba, is to redefine home entertainment…Our goal is to become like HBO in the United States, to become like Netflix in the United States”, stated Liu.
Alibaba’s new service will go up against the likes of Tencent Holdings Ltd, Baidu Inc’s iQiyi, Sohu.com Inc and Leshi Internet Information & Technology Corp Beijing (LeTV). However, unlike its competitors whose services are almost free, 90% of TBO’s content would be chargeable, reports 36Kr.
Last year, Alibaba had bought 16.6% stake in Yoku Tudou Inc.,one of China’s biggest Internet television companies. But it is still not very clear as how would TBO be employed in Yoku.