Alibaba is planning to launch an online video streaming service in China within the next two months.
Alibaba’s head of digital entertainment Patrick Liu said that the company aims to create a new family entertainment experience with the new service.
Liu said: "Our goal is to become like HBO in the United States, to become like Netflix in the United States."
The service, dubbed TMall Box Office (TBO), will stream foreign and local film and TV content, as well as some original content produced by the company itself.
Alibaba will operate the service on its TV platforms including smart TVs and over-the-top TV box. Around 90% of TBO’s content will be paid for either by subscription or per broadcast.
The new service will compete with Tencent, Baidu’s iQiyi, Sohu.com and Leshi Internet Information & Technology Corp Beijing.
Last month, Alibaba’s CEO Daniel Zhang told employees that the company must expand globally in order to survive.
Zhang said the enterprise will invest in "new and existing overseas operations".
US online television and movie streaming service Netflix is also planning to enter the Chinese market.
