Friday, May 06, 2005

Chen Tianqiao Wants Shanda to be the Nation's Online Media Supermarket.

From Forbes: House of Flying Fingers

"Online gaming has minted a new power in China's booming Internet economy: Shanda's chief executive, Chen Tianqiao. An average of 1.2 million users, mostly in China, are playing a Shanda-operated game at any given time of day, up 70% from a year earlier. (...)
They control 60% of China's online game market, which, while worth a small $297 million last year, is expected to grow 35% a year through 2009 to $1.3 billion, according to International Data Corp."

"But Chen Tianqiao wants more. In the past few months he has put into motion a plan to parlay his gaming network's success into China's first all-in-one online media supermarket. In February Chen bought 19.5% of Sina, China's online news leader and biggest Internet portal, for $230 million in cash. In April Shanda announced a partnership with Universal Music Group, the world's largest music company, that will allow Shanda users to stream tunes to their PCs. It is Universal's first online sales foray into China and Chen's first foray into music. The service begins in June. "We want to be something like an interactive Disney or an interactive Viacom," Chen says."

"Later this year Chen will unveil a new interactive entertainment box, dubbed the Shanda Station, that will allow TV viewers to go online, play Shanda's games and buy music and, eventually, films. Developed in part with Intel, the product uses Microsoft software and connects to the Internet over high-speed DSLphone lines."

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