Weibo, Youku Join in a Multimedia Partnership
China's Тwitter, Weibo Corp. (Nasdaq: WB), has partnered with video streaming platform Youku Tudou Inc., the self-proclaimed Netflix of China.
Weibo, the media arm of Sina Corp. (Nasdaq: SINA), said its SuperTopic community will connect with Youku. Under the business model of "from short videos to long videos," users will have access to the details of movies on Youku through teasers.
Sina said the joint efforts of the two sides will provide users with deep community discussion services and high-quality content in the field of pan-entertainment such as TV series, variety shows and animation with the combination of "social" and "video."
Youku is operated by Alibaba Group Holding Ltd. (NYSE: BABA), which has also backed Weibo. The e-commerce giant completed its purchase of Youku in 2016, while it also invested heavily and acquired more than 30 percent in Weibo. In 2014, Weibo was spun off as a public company from Sina, which retained 56-percent ownership of the company.
Weibo launched SuperTopic in 2017, which has attracted nearly 3,000 popular stars to be active in the community. Monthly active users in Weibo were 486 million in June with a net addition of approximately 55 million users year-over-year, according to its earnings report this month.
As early as 2016, Weibo and Youku have initiated a video sharing mode. Users can directly watch short video content shared from Youku on Weibo.
Shares in Weibo closed at $40.31 per American depositary share Monday, up nearly 2 percent.
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