Internet television service provider Joost said it launched a Chinese service Wednesday with local portal TOM Online to tap the world's largest online market. The company has also set up a joint venture with Hong Kong-listed TOM Group, parent of TOM Online, to bring a full Joost offering to China, Joost said in a statement posted on its website.
"There's a great market opportunity in China: content producers who are making high-quality content, advertisers eager to reach consumers online, and an active online community," said CEO Mike Volpi.
"Collaborating with TOM, which operates one of the most popular online portals in China, positions us strongly in the region," he said in the statement. Both Joost and TOM will primarily source programming from within China and distribute this programming within and outside of China, the statement said. TOM has sourced about 16,000 hours of Chinese programming for Joost from content providers such as China Central Television, China Record Corporation, and CAV Warner Home Entertainment, it said. China's online population is now the largest in the world.
According to a report by China Internet Network Information Centre, 160 million Chinese, or 76.9 percent of China's total Web users then, viewed TV programmes or movies on the Internet in 2007.