Lions Gate Partners Alibaba for Streaming Services in China
Lions Gate Entertainment Corp. (NYSE: LGF) will team up with Chinese e-commerce giant Alibaba Group to provide streaming services in Mainland China. Lionsgate Entertainment World (LGEW), the subscription channel, will be available through Alibaba's latest generation of set-top boxes.
Through LGEW, customers will have access to several Hollywood smash hits including Lions Gate's blockbuster franchises The Hunger Games, Twilight and the recently released first installment of the Divergent franchise. Popular television series like Mad Men and Weeds will be also available, whereas series like Rosemary's Baby and The Royals will premiere in China on LGEW.
Additionally, customers will be able to enjoy behind-the-scenes footage, features and extra premium content which are not available anywhere else across China. Moreover, subscribers will get VIP membership benefits like special merchandise gifts and screening invitations. The service is slated for an August launch.
Mainland China is one of the fastest growing markets for movie and television content. The collaboration will provide Lions Gate with an opportunity to gain better access to this lucrative market. Moreover, Alibaba's expertise in the digital entertainment market and Lions Gate's top class content make an intriguing combination.
Lions Gate is fast emerging as a leading player in the media industry which boasts of stalwarts like The Walt Disney Co. (NYSE: DIS), Twenty-First Century Fox, Inc. (NASDAQ: FOXA) and CBS Corp. (NYSE: CBS). With franchises like The Hunger Games and Divergent, the studio has achieved tremendous success. Lions Gate acquired Summit Entertainment in 2012, which has given it the rights for the hugely popular young-adult fantasy themed Twilight series.
The studio is grabbing every possible opportunity to expand its presence and soon might become a recognizable power within the media circle.
Currently, Lions Gate is a Zacks Rank #4 (Sell) stock.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
LIONS GATE ETMT (NYSE: LGF): Free Stock Analysis Report
TWENTY-FST CF-A (NASDAQ: FOXA): Free Stock Analysis Report
CBS CORP (NYSE: CBS): Free Stock Analysis Report
DISNEY WALT (NYSE: DIS): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.