Wasu Media, 6/26/18
Zhejiang-based new media and cable TV network operator Wasu Media Holding (000156.SZ) has announced its wholly owned subsidiary Wasu Media Networks has reached a partnership agreement with Alibaba Group's (NYSE: BABA) online video platform Youku Tudou which will grant Wasu Media the national cable DTV and IPTV broadcasting rights for Youku's video content.
Youku will provide the online broadcasting rights for cable DTV VOD and IPTV broadcasting of its video content, while Wasu Media will provide platform access for the on-demand videos, as well as their operation and management. Youku will authorize Wasu to use the film, television, and online variety content to which Youku holds the information network broadcasting rights on all of its cable TV network and IPTV platforms.
The agreement does not grant Wasu the right to sublicense Youku's content.
Under the agreement, Youku will receive a revenue share on any of its content broadcast by Wasu on cable TV or IPTV networks.