BEIJING, Feb. 24, 2011 /PRNewswire-Asia/ -- Youku.com Inc. (NYSE: YOKU), China's leading Internet television company, recently received several new licenses allowing it to expand its video services in live broadcasting, video search, and production and distribution of original content.
Youku received two online video licenses from China's State Administration of Radio, Film and Television (SARFT) in July 2008 for Internet audio/video programming transmission and production, which enabled the company to engage in professional content syndication, online video sharing, and original content production. With the latest licenses, Youku continues to lead the way in the Chinese online space with a wide array of service licenses.
"The granting of these permits enables us to diversify our business lines and enhance our flexibility to explore additional opportunities in the booming online media environment in China," said Victor Koo, Chairman and CEO of Youku.
Koo highlighted the importance of the new licenses for production and distribution of original content, which permit Youku to produce its own content and to distribute the content to other media or partners. While the majority of Youku's viewers watch long-form professionally produced content featured on the Company's website, original content plays a key role in defining Youku's brand image and personality, and helps Youku gain significant online and offline popularity.
Old Boys, the crowning final piece in the 11 Degrees New Media Film Project co-produced by Youku Originals, China Film Group and Chevrolet in 2010, was viewed more than 28 million times within three months of its release on Youku's website.
Another license authorizes Youku to provide "aggregation and indexing services for online video content," which enables the Company to continue developing Soku.com, the Company's Internet video search engine currently in beta-testing.
Youku.com 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".
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SOURCE Youku.com Inc.