Baidu enters online TV market

Beijing - Search engine giant Baidu has partnered with online video portal UiTV to launch an online TV platform.

TV and movie content from major TV networks including TVB and Enlight Media will be available on the platform movie.baidu.com, where internet users can download movies and TV programs free of charge.

According to the pact signed by both parties, Baidu will own 8.3% stake in UiTV. The partnership will make earn money from online advertising.

Xuyang Ren, Baidu's VP of marketing & business development, said the deal will leverage each companies respective strength to provide a better online movie and TV experience for Chinese internet users.

Baidu's second quarter report unveiled active online marketing customers grew to over 180,000, an increase of 12.5% from the previous quarter. Search engine marketing by large enterprises has generated significantly high revenue for the group. The new partnership is expected to accelerate its advertising growth.