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Baidu Receives $50 Million To Build Video Site

Hulu investor helps out with Chinese counterpart

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The creation of the Chinese equivalent of Hulu is now officially underway.  Providence Equity Partners, which invested $100 million in the original American video site, will give Baidu $50 million to create Qiyi.com.  Qiyi should similarly offer premium content and rely on ad revenue.

Qiyi will indeed be a completely by-the-book operation, judging from an "About Us" section that’s in English.  It explained, "Qiyi will strictly abide by copyright laws and administrative regulations, to take copyright protection measures to protect the legitimate rights and interests of copyright holders."

Then another paragraph later added, "Qiyi keeps making efforts . . . to spread the advanced socialism culture by undertaking its social responsibility as an outstanding corporate citizen.  Qiyi is playing a positive role in developing a harmonious society."

Unfortunately, not a lot else is known about the project.  The site’s official launch date hasn’t been publicized, and other details (relating to advertisers’ identities, hours of content available, and so forth) are also unavailable.

One important thing that’s been made clear, at least, is the fact that Baidu will retain majority ownership in Qiyi despite Providence’s large investment.

Baidu Receives $50 Million To Build Video Site
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  • http://www.ameerpetstudent.com Guest

    This is good news. If they will develop new video web site it’s very good for visitors.

  • http://remote-pc-access-software.info/ Remote PC Access Software

    This is indeed something good to know. But I have been waiting for one in Canada for many years. I have always wanted to watch tv shows online and never can access any shows. I love hulu, but not being able to use it is not fun at all. Hopefully Canada will have similar services soon.