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If true, experts said the move would end intensifying rivalry and cut content costs for both players. Most recently, reports suggested that Tencent was looking to become the largest shareholder of iQiyi. Competition between the three players has resulted in a price war and prevented them from increasing takings, experts previously told this news service. Tencent Video, iQiyi, and Alibaba's Youku Tudou combined hold more than 70% of the Chinese online video market in terms of revenue, according to a June 2019 report by PwC. Surya Citra Media's share price rose to 1165 Indonesian rupiah on 26 June from 1090 Indonesian rupiah on 25 June, the day the Tencent-iFlix deal broke - suggesting investors expect a stake sale in too, analysts said. Tencent-backed ride-hailing company PT Go-Jek Indonesia and Alibaba have participated in several funding rounds for PT. Indonesia, in particular, has become an e-commerce battleground for Tencent and Alibaba.
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Alibaba has an existing relationship with Surya Citra Media Tbk through its digital payments tie-up with the Indonesian company's major shareholder PT Elang Mahkota Teknologi Tbk and so would be the "natural" acquirer of, Makintosh said, adding that when Tencent makes a move, Alibaba tends to follow. The acquisition could prompt Alibaba Group Holding Ltd.'s Youku Tudou to buy an over-the-top platform outside of China, Angus Mackintosh, founder of CrossASEAN Research, said.Īlibaba may purchase Indonesian streaming platform PT Vidio Dot Com from PT Surya Citra Media Tbk, Mackintosh said. IFlix is present in 13 countries: Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, the Maldives, Myanmar, Vietnam, Cambodia, Nepal and Bangladesh.Įxpanding outside of China will be vital for local players if the country's State Administration of Press tightens regulations on streaming content to a similar extent seen in the gaming sector, Lu said. With iFlix, Tencent can promote its influence in Asia thus putting pressure on iQiyi, or Baidu," Lu said. However, neither of them have attracted local audience. "Tencent Video tried Thailand and iQiyi tried in Taiwan. In the first quarter of 2020, Tencent Video and iQiyi had 112 million and 118.9 million subscribers, respectively. With iFlix's monthly active user base of 25 million in April, Tencent can exceed Baidu-owned iQiyi's numbers and add pressure as the companies compete to expand their streaming businesses outside of China, Ming Lu, analyst at Aequitas Research, said. to expand geographically via acquisitions, analysts said. The deal announced June 25 includes iFlix's content, technology and resources and gives Chinese internet conglomerate Tencent a foothold in several new markets - which could pressure rivals Baidu Inc.
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But looking ahead, JP Morgan expects China's online video industry to break even by 2019 as the big three platforms convert more free viewers into paid subscribers.Tencent Holdings Ltd.'s purchase of Malaysia-headquartered video on demand service iFlix Sdn Bhd could see it overtake Chinese rival iQiyi and lead to further consolidation between streamers in Southeast Asia, analysts told S&P Global Market Intelligence. Crawling toward profitabilityĪ key thing to remember is that none of these platforms are profitable.
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However, Youku hasn't updated that figure since then, so it's unclear if it's still keeping up with Tencent Video and iQiyi. The company notably added seven million subscribers during a single campaign - jointly run with Alibaba's payment arm Alipay - during the Chinese Spring Festival holiday. 2016, it revealed that it had reached 30 million paid subscribers. Nonetheless, Youku still attracts paying subscribers. As a result, viewers and advertisers often gravitated toward those larger platforms. As a smaller platform, it also attracted fewer distribution partnerships than Tencent Video and iQiyi. Unlike Tencent and Baidu's video platforms, which were extended from their core ecosystems, Youku Tudou wasn't heavily connected to Alibaba's core e-commerce platforms. Youku Tudou grew rapidly under Alibaba, but remains in third place with 325 million MAUs as of last August according to QuestMobile and Jefferies. Streaming video sites Youku and Tudou merged in 2012 to become Youku Tudou, which was then acquired by Alibaba in late 2015.