Report: Alibaba to launch streaming video in China

Hangzhou, China —Alibaba Group Holding Ltd. will reportedly launch a paid streaming video service in China in August 2015. According to Reuters, the service will be called Tmall Box Office (TBO) and offer both originally developed content and content from third-party providers.

Alibaba holds a 16.5% stake in Chinese video platform Youku Toudo. The service, which will offer 90% paid content and 10% free content, will compete with existing Chinese paid video streaming services from companies such as Tencent, Baidu, Sohu.com and LeTV. Netflix has also been considering launching a service in China.