Previously based on a financial content broadcasting platform, the news provider is looking to a more profitable sector in providing sports-themed programming. “There are approximately 500 million soccer fans and 300 million basketball fans in China. Providing additional popular international sports content to these individuals as well as the sizeable untapped fans in China is a compelling business strategy and investment opportunity,” said Fredy Bush, CEO of Xinhua Sports and Entertainment.
The company currently holds exclusive rights to the All Sports Network which includes the NFL, NCAA March Madness, the Big 10 competitions, NHL and more. It also purchased the distribution of the UEFA Europa League’s 2009 to 2012 seasons.
“China’s media market is continuing to open opportunities that were not available just one year ago. Content is fast becoming the most valuable commodity in China. We are in the fortunate position of being able to leverage our well-established platform of media and advertising resources to deliver content across television channels, the Internet, and mobile phones,” said Bush.
