The 2017/Fall Youku online drama forum was held in Shanghai Oct 24 to 25. [Photo provided to chinadaily.com.cn]

The 2017/Fall Youku online drama forum was held in Shanghai Oct 24 to 25. Fifty-eight upcoming internet series and 37 TV shows were unveiled during the two-day forum, where participants also shared several successful operational experiences with Youku’s hit online dramas.

Yu Yongfu, chairman and CEO of Alibaba Digital Media & Entertainment Group, said in his opening speech that Alibaba will increase its investment in video content on Youku Tudou, China's top video site, with unlimited support. He also expressed that the first stage of integrating Youku Tudou into Alibaba was successfully completed.

Yu Yongfu, chairman and CEO of Alibaba Digital Media & Entertainment Group, speaks during the opening ceremony of the 2017/Fall Youku online drama forum, Shanghai, Oct 24. [Photo provided to chinadaily.com.cn]

"The video platform has become an important part of the entertainment industry. Nowadays, the three dimensions of content, users and the business have entered a new era of holistic competition, and long-term symbiotic relationships will become increasingly important for the platform and content," said Yang Weidong, president of Youku Tudou and CEO of Alibaba's music unit. “Any isolated pattern or way of thinking will face a huge challenge. For content, it means they will face options in front of new media, new content and new production.”

Yang Weidong, president of Youku Tudou and CEO of Alibaba's music unit, made a speech during the opening ceremony of the 2017/Fall Youku online drama forum, Shanghai, Oct 24. [Photo provided to chinadaily.com.cn]

According to him, with the development of the video industry, “users" has become a keyword instead of "audience.” The relationships between the content side and the platform have been transforming from the short-term and simple pattern of production and marketing to a long-term and more closely symbiotic relationship. In the future, awareness of the long-term relationship between the platform and content will be crucial for acquiring major breakthroughs.

The entertainment industry is an industry of long-term and large-scale investments, Yu added. For Youku Tudou, Alibaba has provided unlimited support through investments in the past years, with the goal of having Youku Tudou return to an industry-leading position in the shortest possible time.

China's e-commerce giant Alibaba Group Holding Ltd completed buyouts of Youku Tudou Inc in 2015, making the Beijing-based video company one of its wholly owned subsidiaries.