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Alibaba Enters Partnership with Manchester United to Develop Online Streaming Services
Of late, Alibaba has been trying to expand its presence in the sports sector, and it can be dated back to its streaming of the entire FIFA World Cup 2018 through a partnership with China Central Television. Investment in the World Cup and original content has led to growth by 200 percent amongst average daily subscribers for Youku
Fremont, CA: Online e-Commerce giant Alibaba Group Holding Limited is looking to increase their foothold in the digital media and entertainment sector. The Hangzhou-based company recently signed a partnership with Premier League soccer club Manchester United Ltd., offering its online content streaming services on Youku. As part of the deal, the company will provide the club's content on its video streaming platform. Also, they will develop a Manchester United store on their business to consumer platform, Tmall.com.
Although United’s League matches will not be live streaming on the platform, other content like women's games, academy, and club tour matches will be presented and localized on multiple Alibaba platforms. The latest partnership is streamlined with the company’s strategic focus on digital entertainment. This move is expected to help the company expand its user base and fend off competition.
Of late, Alibaba has been trying to expand its presence in the sports sector, and it can be dated back to its streaming of the entire FIFA World Cup 2018, through a partnership with China Central Television. Investment in the World Cup and original content has led to growth by 200 percent amongst average daily subscribers for Youku. These innovative initiatives will continue to uphold the company’s position in the world of media and entertainment, especially China. This growing unit includes its video-streaming platform Youku and music-streaming service Xiami.
As per statistics, video-on-demand revenues in China is expected to reach USD 2.56 billion in 2019, and touch the USD 3 billion mark in 2023, at a cumulative aggregate growth rate of 3.8 percent. With the current plan, Alibaba is expected to reap the benefits of this rapidly growing market on the back of new strategies that include partnerships and acquisitions. The current deal with Manchester United is reflective of the company's continued efforts to make a mark in online entertainment, as they look to attract new customers to its platform. This new direction has also driven the company's top-line growth.
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