Youku (YOKU) Shares Up 6% Following Warner Bros, 'Inception' Deal
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Youku.com Inc. (NASDAQ: YOKU) was dubbed the YouTube of China following its IPO late last year, but now it seems the company would like to pattern itself more after Netflix Inc. (NASDAQ: NFLX).
On Tuesday the company announced that it has partnered with a Warner Bros. studio on transactional on-demand streaming for one of the hottest films through Youku Premium, which will include distribution of the blockbuster movie, "Inception."
The company said that the movie Inception from Warner Bros, one of the top films of 2010, is now available on Youku Premium, while it will also have online resale rights for the film.
"Through building long-term partnerships with copyright holders and communicating with our media partners, Youku Premium is creating a whole new way for people to find and watch the content they want, when they want it," said Youku founder and CEO Victor Koo.
Shares of Youku are up 6.62 percent to $38.00 in premarket movement on Wednesday.
On Tuesday the company announced that it has partnered with a Warner Bros. studio on transactional on-demand streaming for one of the hottest films through Youku Premium, which will include distribution of the blockbuster movie, "Inception."
The company said that the movie Inception from Warner Bros, one of the top films of 2010, is now available on Youku Premium, while it will also have online resale rights for the film.
"Through building long-term partnerships with copyright holders and communicating with our media partners, Youku Premium is creating a whole new way for people to find and watch the content they want, when they want it," said Youku founder and CEO Victor Koo.
Shares of Youku are up 6.62 percent to $38.00 in premarket movement on Wednesday.
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