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Letv.com Says Chinese Internet Video Business Is Hot
January 29, 2014 |
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Comments | Category: Internet, Telecom & Wireless
In the face of massive competition from state-owned businesses, stalwarts like Youku Tudou, and mobile-only start-ups, Chinese Internet video website Letv.com says it's profits are bursting.
Letv.com published its unaudited annual performance pre-announcement for 2013, stating that the company expects to see net profit between CNY250 million and CNY270 million, a year-on-year increase of 30% to 40%.
Letv.com said during the entire year of 2013, the company's net profit attributable to shareholders reached between CNY252.452 million and CNY271.872 million. This marked an increase of 30% to 40% from the CNY194.194 million in the same period of the previous year.
The company pointed out the compared with 2012, the Chinese online video industry still maintained high-speed growth in 2013 and the scale of the industry continued to enlarge. Letv.com says it still achieved obvious synergy and the company's various main businesses realized stable growth.
In 2013, Letv.com's advertising business on video platforms increased by over 100% year-on-year. Meanwhile, the launch of its TV products had positive effect on the overall revenue of the company.
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March 19, 2014 Letv.com Acquires Full Stake In Huaer Entertainment For CNY900 Million
March 12, 2014 Letv.com Hops On Chinese Cloud Computing Wave
January 24, 2014 Youku Tudou Reaches Smart TV Content Deal With Haier
February 5, 2010 Chinese Internet Video Rivals Join Forces On Copyright Issues
November 4, 2013 Letv.com Net Profit Up 56% In Q3 2013
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June 18, 2010 Chinese State-owned Company Enters Internet Video Industry Sector
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