Written by George Hancock Jr. | Last Updated October 27th, 2019Our goal, here at Best Company, is to provide you with honest, reliable information you need to find companies you can trust.
Alibaba has always experienced greater ease in securing Chinese market share than Amazon, which makes sense. What doesn't make much sense is Alibaba's recent underperformance in the stock market. As we are all constantly reminded, the Chinese middle class is growing and everyone's spending loads of money!! It may be true but the Chinese aren't spending all their money online, apparently. However, Alibaba's mastermind, Jack Ma, is setting his sights on streaming media. Specifically, videos and movies. Recently, Ma made a bid on Youku Tudou, a video streaming website similar to Youtube. If he gets his way, his company will have a chance to establish territory before Amazon and Netflix.
Last year Ma created an entity known as Alibaba Pictures when he purchased a majority share of ChinaVision Media. Effectively, he's now a top executive of a production studio. What could this mean if it's not that he's going to create original programming just like Amazon, Netflix, and Hulu do? That's what many investors expect from him, if for nothing but to turn Alibaba's stock decline around.
Something that may surprise you is that Alibaba has been invading living rooms in China for some time. It created it's own set-top box last year. The box is similar to the Roku player and Google Chromecast. Also surprising, Chinese company Tencent has had streaming movies on the market in their country for a while. Netflix is considering a run in China, too. Time is running out, however. In China you're the first mover or you're probably dead when it comes to these things. That was demonstrated by Alibaba's easy defeat over Amazon in the online retail arena. But enough with the market talk. I'm just excited about the possibility of getting cool Asian content on my PC. Ma, won't you create an English language version of Youku for us? Subtitles, please?