Alibaba Group Holding Ltd (NYSE:BABA) signed a deal with Walt Disney Co (NYSE:DIS) that gives it certain streaming rights.
The deal between Alibaba and Disney will give the internet company the rights to stream the entertainment company’s animated shows in China. The deal covers more than 1,000 episodes of shows. It also gives BABA exclusive streaming rights to 600 of those episodes.
Alibaba will be streaming the shows through its own Youku streaming service. The deal also allows it the right to select other platforms in China to stream the episodes through. Allowing BABA to stream its shows in China lets Disney get around a restriction that requires government approval for streaming from a foreign company.
The animated TV shows that Alibaba has the right to stream in China thanks to the deal include DuckTales, My Friends Tigger and Pooh and more. The deal also includes streaming rights for more than 100 live-action and animated movies from Disney, reports TechCrunch.
Financial details of the deal between Alibaba and Disney weren’t disclosed. However, we do know that the deal is set to last for multiple years. It also replaces Disney previous streaming service in China, which shut down two years ago after only being up for a short time.
“The addition of Disney content greatly enriches the library of quality international content on Alibaba’s media and entertainment ecosystem, giving us a leading edge in foreign content distribution in China,” Yang Weidong, President of Youku, said in a statement obtained by Reuters.
BABA and DIS stock were both up slightly as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
