Chinese e-commerce giant Alibaba plans to launch its own video-streaming service within the next two months.
The service, called Tmall Box Office (TBO), will have to compete with the likes of Netflix and HBO. Content will be brought from China and other countries, according to Reuters, and will feature a mix of third-party and in-house content, as well as domestic and foreign videos.
At a press conference in Shanghai, Alibaba’s head of entertainment, Patrick Liu said: “Our mission, the mission of all of Alibaba, is to redefine home entertainment.
“Our goal is to become like HBO in the United States, to become like Netflix in the United States.”
The service will be run through Alibaba’s set-top box and smart televisions.
Tencent Holdings and Baidu are just some of the companies that are already investing in their own streaming services in China.
It is not yet clear how this new service will fit in with Youku Tudou, one of China’s biggest video streaming services, in which Alibaba has a 16.5% stake.