Youku PR, 6/28/11
Chinese online video site Youku (NYSE: YOKU) officially launched its Youku Premium paid content platform today after signing a digital distribution agreement with CAV Warner Home Entertainment Co., Ltd., Warner Bros. Home Entertainment Group's joint venture in China. Under the terms of the three-year agreement, Youku will add a total of 400 to 450 Warner Bros. new releases and catalog titles to its Youku Premium content library.
Youku Premium launched in beta in October 2010. Since then, the service has processed 200,000 paid transactions for its library of more than 300 movies and 3,880 educational programs.
Warner Bros. first worked with Youku earlier this year for the launch of the film Inception on Youku Premium, then in beta. Youku Premium now also has Harry Potter and the Deathly Hallows: Part 1 on offer, and will add the conclusion of the series after its release later this year. Other popular titles, including the Lord of the Rings trilogy, are also available for premium online viewing.