Baidu plans online Video Site

Baidu plans online Video Site

China’s leading search engine, Baidu, is planning to launch a new independent company that will provide licensed online video to internet users.

Functioning much like Hulu, the new company will work closely with content providers to bring copyrighted premium video content like movies, TV series, sporting events, animation and other programming to internet users through an advertising-supported model.

In another development, Baidu has appointed Yu Gong, formerly the president and COO of China Mobile’s 12580 business, as CEO of the new company.

“As China’s Internet industry evolves, we have seen increasing demand for high-quality video content on our search platform,” Said Baidu VP of marketing and business development Xuyang Ren, “By establishing this new company, we will be able to better serve our users and customers with superior content and focused resources. ”

Commented Gong, “Online video is a rapidly growing sector in China and I believe Baidu’s search platform will provide a solid foundation for the new company to address the increasing demand for premium content.”