On April 18th, Baidu and LeTV jointly announced that they will cooperate in film and television drama production, announcement, and derivative product development, and integrate resources in new product launches, membership rights, etc. to realize the rights and interests of users of the two platforms. It will also help LeTV to open overseas markets.
Baidu and LeTV reached a strategic cooperation to import content for content
On the afternoon of April 18th, Baidu signed a strategic cooperation agreement with LeTV. The two parties will open up the ecology of Baidu Union’s ecology and LeTV video content, and meet the Baidu users' demand for video content while enhancing the ability to display and distribute LeTV content. In the future, both parties will also cooperate in user rights, smart hardware, and globalization.
Wang Haifeng, vice president of Baidu, said, "Lvvision welcomes Baidu as a strategic partner. Baidu and LeTV are open to each other to achieve complementary advantages and explore a win-win business future. As a technology-driven company, Baidu has been firmly convinced of the power of technology. It has created the best Chinese search engine in the world and has laid a solid technological foundation in artificial intelligence, big data and cloud computing, etc. Baidu's technological advantages will provide efficient service connections for LeTV and intelligently provide intimate services for both users. With the service experience, both parties will open up more imaginations for cooperation in terms of content services and hardware."
Lebu Holding’s vice president of strategy, Abu Likmu-Abu Limiti, stated: “Baidu is one of the best partners for LeTV. LeTV also needs a giant platform and portal like Baidu. I believe this strategic cooperation will further strengthen LeTV. With the deep operation capabilities of content resources in sports, film, and television, we can explore product innovation and experience innovation in the future and actively participate in global market competition.â€
In addition, Baidu and LeTV also said that they will cooperate in film and television drama production, announcement, and derivative product development, and establish synergies between upstream and downstream resources; in terms of user rights, Baidu will cooperate with LeTV in the launch of new products, membership rights, etc. The integration of resources will be implemented to realize the joint construction of the user rights of the two platforms; in terms of overseas markets, Baidu will help Levision open the overseas market by virtue of its accumulated advantages in overseas mobile users.
However, as we all know, Baidu has absolutely controlled iqiyi in video content. Although in February of this year, Li Yanhong and Gong Yu mentioned to Baidu’s board of directors the acquisition of Baiyi’s Iqiyi shares for private ownership. However, the transaction is still in progress and there is no further news.
Regarding the iQIYI-related questions, Baidu explained to Sina Technology that the cooperation with LeTV was mainly based on Baidu Union's external cooperation and was more oriented toward strategic cooperation. As a member of the Baidu system, iQiyi will continue to receive the support of resources as always.
In addition, Baidu also revealed that this strategic cooperation negotiation has been a long time, today is only signing a cooperation agreement.
Baidu and LeTV reached a strategic cooperation to import content for content
On the afternoon of April 18th, Baidu signed a strategic cooperation agreement with LeTV. The two parties will open up the ecology of Baidu Union’s ecology and LeTV video content, and meet the Baidu users' demand for video content while enhancing the ability to display and distribute LeTV content. In the future, both parties will also cooperate in user rights, smart hardware, and globalization.
Wang Haifeng, vice president of Baidu, said, "Lvvision welcomes Baidu as a strategic partner. Baidu and LeTV are open to each other to achieve complementary advantages and explore a win-win business future. As a technology-driven company, Baidu has been firmly convinced of the power of technology. It has created the best Chinese search engine in the world and has laid a solid technological foundation in artificial intelligence, big data and cloud computing, etc. Baidu's technological advantages will provide efficient service connections for LeTV and intelligently provide intimate services for both users. With the service experience, both parties will open up more imaginations for cooperation in terms of content services and hardware."
Lebu Holding’s vice president of strategy, Abu Likmu-Abu Limiti, stated: “Baidu is one of the best partners for LeTV. LeTV also needs a giant platform and portal like Baidu. I believe this strategic cooperation will further strengthen LeTV. With the deep operation capabilities of content resources in sports, film, and television, we can explore product innovation and experience innovation in the future and actively participate in global market competition.â€
In addition, Baidu and LeTV also said that they will cooperate in film and television drama production, announcement, and derivative product development, and establish synergies between upstream and downstream resources; in terms of user rights, Baidu will cooperate with LeTV in the launch of new products, membership rights, etc. The integration of resources will be implemented to realize the joint construction of the user rights of the two platforms; in terms of overseas markets, Baidu will help Levision open the overseas market by virtue of its accumulated advantages in overseas mobile users.
However, as we all know, Baidu has absolutely controlled iqiyi in video content. Although in February of this year, Li Yanhong and Gong Yu mentioned to Baidu’s board of directors the acquisition of Baiyi’s Iqiyi shares for private ownership. However, the transaction is still in progress and there is no further news.
Regarding the iQIYI-related questions, Baidu explained to Sina Technology that the cooperation with LeTV was mainly based on Baidu Union's external cooperation and was more oriented toward strategic cooperation. As a member of the Baidu system, iQiyi will continue to receive the support of resources as always.
In addition, Baidu also revealed that this strategic cooperation negotiation has been a long time, today is only signing a cooperation agreement.
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