On the evening of April 16, the official Weibo account of Qvod released two posts.
The first post stated: "Since March 2014, Qvod has initiated a comprehensive transformation of its business model, shifting from technology to original and licensed content. Currently, we are mainly preparing in three areas: first, purchasing film and television domains; second, technically blocking all pirated content in Yunfan Search and Qvod Entertainment Trend Indicator; third, investing no less than 100 million yuan in copyright acquisition over the next year, and no less than 30 million yuan to support domestic micro-drama innovation."
Qvod released a second post, titled 'Letter to Qvod Users: Our Renaissance is Imminent,' which said: 'In order to completely eliminate pirated and vulgar content using Qvod technology, we have decided to shut down the QVOD servers and stop video-on-demand and downloads based on Qvod technology. From this moment, the previous "Qvod model" comes to a full end.'
With this, China's last 'rebel' video giant QVOD has ended the business model that had achieved more than 200 million active users.
"Announcement"
Dear Qvod Users:
Since March 2014, Qvod has initiated a comprehensive transformation of its business model, shifting from technology to original and licensed content. Currently, we are mainly preparing in three areas: first, purchasing film and television domains; second, technically blocking all pirated content in Yunfan Search and Qvod Entertainment Trend Indicator; third, investing no less than 100 million yuan in copyright acquisition over the next year, and no less than 30 million yuan to support domestic micro-drama innovation.
Qvod is willing to work with peers to promote the legalization of the video industry and also welcomes supervision from all sectors of society.
Shenzhen Qvod Technology Co., Ltd.
April 2014
I should say: Yuanfang, what do you think?
KuaiBo is transforming, what do you think about it, young man?
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