BEIJING, Aug. 29, 2011 /PRNewswire-Asia/ -- Youku.com,
Inc. (NYSE: YOKU), China's leading
internet television company, and DreamWorks Animation SKG, Inc.
(NASDAQ: DWA) announced today that they have entered into a
first-of-its-kind online distribution agreement for rights to the
DreamWorks Animation KungFu Panda franchise films in
Mainland China. This is the first time that DreamWorks Animation
titles, which are distributed by Paramount Pictures, will be made
available through an online platform in China.
Both Kung Fu Panda titles
are available for on-demand viewing on Youku Premium and will
subsequently debut on Youku's Hollywood Movie Channel after the
paid viewing window closes.
"We're excited to add both of DreamWorks Animation's KungFu
Panda movies to our online channels," said Victor Koo, Chairman and Chief Executive Officer
of Youku. "As technology matures and Chinese internet users
increasingly turn to the web for entertainment, Youku has been able
to expand on the traditional movie release roadmap through
agreements for studio films such as Kung
Fu Panda and Kung Fu
Panda 2. Both titles have a proven track record of
success with Chinese audiences, and we look forward to expanding
our alignment with Hollywood
studios in the future to offer even more compelling content."
DreamWorks Animation's KungFu Panda franchise has grossed
over $1.25 billion at the worldwide
box office to date and is wildly popular with Chinese audiences. In
China, Kung Fu Panda was the #1 animated film of
2008 and Kung Fu Panda 2
became the fastest film in history to surpass RMB 100 million at the box office - in just two
days. The DreamWorks Animation artistic team visited China to obtain cultural references for the
KungFu Panda films, both of which feature lush environments,
scenery and landscapes inspired by traditional Chinese art and
architecture.
"Youku is an innovative company with extraordinary reach in
China and we are thrilled that the
KungFu Panda features will now be offered through their
platform, which presents high-quality content to consumers online,"
said Kelley Avery, Head of Worldwide
Franchise Strategy and Distribution for DreamWorks Animation. "It
is particularly satisfying that Chinese audiences have responded so
enthusiastically to the cultural references within our franchise
and we look forward to making both Kung
Fu Panda movies available to more and more consumers in
China through Youku."
Youku is the leader among China's online video sites in introducing a
new model for content distribution, under which recently released
films become available for on-demand viewing for a certain period
of time before becoming available on a subscription basis, followed
by a free-on-demand basis. The model, which debuted with Chinese
movies and recently expanded with the launch of the Hollywood Movie
Channel, allows studios to monetize the online release of their
titles while also ensuring that their films reach as wide an
audience as possible.
About Youku
Youku.com Inc. is China's
leading Internet television company. Our Internet television
platform enables users to search, view and share high-quality video
content quickly and easily across multiple devices. Youku, which
stands for "what's best and what's cool" in Chinese, is the most
recognized online video brand in China. Youku's American depositary shares,
each representing 18 of our Class A ordinary shares, are traded on
NYSE under the symbol "YOKU."
About DreamWorks Animation
DreamWorks Animation creates high-quality entertainment,
including CG animated feature films, television specials and
series, live entertainment properties and online virtual worlds,
meant for audiences around the world. The Company has world-class
creative talent, a strong and experienced management team and
advanced filmmaking technology and techniques. DreamWorks Animation
has been named one of the "100 Best Companies to Work For" by
FORTUNEĀ® Magazine for three consecutive years. In 2011, DreamWorks
Animation ranks #10 on the list. All of DreamWorks Animation's
feature films are now being produced in 3D. The Company has
theatrically released a total of 22 animated feature films,
including the franchise properties of Shrek, Madagascar, Kung Fu
Panda and How to Train Your Dragon.
About Paramount Pictures Corporation
Paramount Pictures Corporation (PPC), a global producer and
distributor of filmed entertainment, is a unit of Viacom (NYSE:
VIA, VIA.B), a leading content company with prominent and respected
film, television and digital entertainment brands. The company's
labels include Paramount Pictures, Paramount Vantage, Paramount
Classics, Insurge Pictures, MTV Films and Nickelodeon Movies. PPC
operations also include Paramount Digital Entertainment, Paramount
Famous Productions, Paramount Home Entertainment, Paramount
Pictures International, Paramount Licensing Inc., Paramount Studio
Group and Paramount Television & Digital Distribution.
Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. The Company's plans, prospects, strategies, proposals and our
beliefs and expectations concerning performance of our current and
future releases and anticipated talent, directors and storyline for
our upcoming films and other projects, constitute forward-looking
statements. These statements are based on current expectations,
estimates, forecasts and projections about the industry in which we
operate and management's beliefs and assumptions. These statements
are not guarantees of future performance and involve risks,
uncertainties and assumptions which are difficult to predict.
Actual results may vary materially from those expressed or implied
by the statements herein due to changes in economic, business,
competitive, technological and/or regulatory factors, and other
risks and uncertainties affecting the operation of the business of
DreamWorks Animation SKG, Inc. These risks and uncertainties
include: audience acceptance of our films, our dependence on the
success of a limited number of releases each year, the increasing
cost of producing and marketing feature films, piracy of motion
pictures, the effect of rapid technological change or alternative
forms of entertainment and our need to protect our proprietary
technology and enhance or develop new technology. In addition, due
to the uncertainties and risks involved in the development and
production of animated feature projects, the release dates for the
projects described in this document may be delayed. For a further
list and description of such risks and uncertainties, see the
reports filed by us with the Securities and Exchange Commission,
including our most recent annual report on Form 10-K and our most
recent quarterly reports on Form 10-Q. DreamWorks Animation is
under no obligation to, and expressly disclaims any obligation to,
update or alter its forward-looking statements, whether as a result
of new information, future events, changes in assumptions or
otherwise.
For more information, please
contact:
|
|
|
|
Media Relations:
|
|
Jean Shao
|
|
Director, International Public
Relations
|
|
Youku.com Inc.
|
|
Tel: +86-10-5885-1881
x7128
|
|
Email: shaodan@youku.com
|
|
|
|
Investor Relations:
|
|
Ryan Cheung
|
|
Corporate Finance
Director
|
|
Youku.com Inc.
|
|
Tel: +86-10-5885-1881
x6090
|
|
Email: ryan.cheung@youku.com
|
|
|
SOURCE Youku.com Inc.