Online Video Site Joy.cn Issues Virtual Currency

DoNews, 7/26/11

Chinese online video company Joy.cn recently began issuing virtual currency for use with its VOD service (pay.joy.cn). Users who sign in to Joy.cn's premium HD video channel can now purchase JoyCoins virtual currency in their account settings via online banking or online payment processors such as Alipay and YeePay. One JoyCoin is worth RMB 1, and movies can currently be viewed for 3-5 JoyCoins per showing.

Joy.cn finalized a deal in 2010 to purchase several hundred films from the Walt Disney Company. More recently, the company announced that a strategic partnership deal has been reached with 20th Century Fox and Sony Pictures Entertainment which gives Joy.cn access to a number of classic films belonging to the two companies, as well as online broadcast rights for future releases from the two companies each year.

Keywords: content Disney Internet online video Joy.cn virtual currency Sony Pictures broadcasting rights 20th Century Fox

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