Youku Tudou Inc (ADR) (NYSE:YOKU), China’s leading Internet television company announced a new milestone in its IP-focused pan-entertainment strategy. A popular TV series The Journey of Flower, now being broadcast on the Youku Tudou platform simultaneously with TV, has generated over 1.8 million downloads for its mobile game since its release on June 25 and a record level of revenue for a single game at Youku Tudou.
The Journey of Flower is the latest success story in Youku Tudou’s initiatives to increase user stickiness and drive value by leveraging a single IP to create multi-format entertainment products. Through its dedicated Cloud Entertainment BU, Youku Tudou is able to connect fans across domains leveraging its position as the leading online video platform in China. The total cumulative views of The Journey of Flower now stand at over 1.1 billion, with more than half of the series still remaining. This is the fastest TV series to surpass 100 million cumulative video views in Youku Tudou’s TV series history. Since venturing into mobile gaming, Youku Tudou now jointly operates over 1,500 games with over 150 mobile game operators and has already driven a total of over 200 million mobile game downloads.
“With our Cloud Entertainment BU, we create more synergy of IPs across domains by bringing to the market high-quality IPs in different entertainment formats, using our distribution power across PC and mobile. Moving forward, we will continue to work across the IP value chain to give our users a highly-immersive experience and drive growth in mobile games, merchandising and other derivative entertainment channels,” said Leo Yao, President, Cloud Entertainment of Youku Tudou. (Original Source)
Shares of Youku Tudou closed yesterday at $20.34. YOKU has a 1-year high of $31.50 and a 1-year low of $11.85. The stock’s 50-day moving average is $26.59 and its 200-day moving average is $19.53.
On the ratings front, Youku Tudou has been the subject of a number of recent research reports. In a report issued on June 29, Mizuho analyst Jin Yoon downgraded YOKU to Hold, with a price target of $18, which represents a potential downside of 11.5% from where the stock is currently trading. Separately, on June 19, Macquarie’s Jiong Shao maintained a Buy rating on the stock and has a price target of $34.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jin Yoon and Jiong Shao have a total average return of 16.2% and 13.6% respectively. Yoon has a success rate of 44.4% and is ranked #768 out of 3702 analysts, while Shao has a success rate of 53.8% and is ranked #1207.
The street is mostly Bullish on YOKU stock. Out of 4 analysts who cover the stock, 2 suggest a Buy rating , 1 suggest a Sell and one recommends to Hold the stock. The 12-month average price target assigned to the stock is $22.00, which implies an upside of 8.2% from current levels.
Youku Tudou Inc is an Internet television company in china. Its internet television platform enables consumers to search, view and share high-quality video content quickly and easily across multiple devices.