Lions Gate Makes Chinese Streaming DealTuesday, July 15, 2014
Santa Monica studio Lions Gate Entertainment Corp. has made a deal to bring its TV shows and movies to a new streaming service in China.
The streaming service, Lions Gate Entertainment World, is a partnership with Hangzhou, China e-commerce giant Alibaba Group. The service will be available on Alibaba set-top boxes. Lions Gate is providing TV shows including “Nashville,” “Mad Men” and movies in the “Twilight” series. The studio announced the deal on Monday.
Lions Gate has made other efforts to expand into the growing Chinese home entertainment market. In November, the studio announced a licensing deal to make its films and TV shows available on China’s official streaming website, called M1905.com.
Jon Feltheimer, Lions Gate chief executive, said the Alibaba deal shows the studio is committed to new digital ventures in foreign markets.
“The launch of our streaming service in China underscores our commitment to innovation and leadership in delivering premium content to digital platforms around the world,” Feltheimer said in a statement.
Lions Gate shares closed Tuesday at $29.67, up 3.3 percent, on the New York Stock Exchange.