China: Online Video Giant PPTV To Invest Big In VR

China: Online Video Giant PPTV To Invest Big In VR
October 27, 2016

PPTV will spend 10 billion yuan (US$1.5 billion) on contents in 2017 and plans to expand its business portfolio to a digital entertainment platform to include virtual reality and offline stores nationwide, the Shanghai-based firm said yesterday.
It also plans to cooperate with top content providers, including Shanghai Media Group, Mango TV, Shenzhen-listed Ci Wen Media and US-based CBS, for contents covering entertainment, sports and fantasy such as the latest Star Trek to woo audiences, the firm added.
The number of paid online video users in China is set to hit 74 million in 2017 and offering a market value of 14 billion yuan to online video firms including Baidu-invested iQiyi, Alibaba-invested Youku Tudou and Suning-invested PPTV, iResearch said.
PPTV plans to open 50 offline stores and 200 VR experience centers nationwide in 2017.

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