Beijing / Bangalore, October 07, 2015: Since its establishment in 2004, Letv has become a well-known company in many fields, as each of its more than 10 sub-companies is an industry leader and redefining the industries it plays in. Letv Music Company was established in March 2015, and recently became the first company in China that created the mode of “pay-to-view” online live concert for its users.
The live concert of Li Yuchun, a pop singer in China, made online pay-to-view history. The concert, themed “WHY ME” attracted nearly 5 million pay-to-view online viewers worldwide on Letv’s platform.
Pegged at Rs.700-crore, the music Industry in India is buzzing with some latest developments by major players that point towards a big change in the way the content will be consumed by the user online in the coming future. With an interest in the Indian market; Letv is defined in China as a game changer and market disruptor in every industry it operates. Letv is also the first company in China that rose up the idea of “building products with an ecosystem”.
Recently, Letv’s Facebook post garnered more than 100,000 likes in less than 2 days with 50,000 likes coming in less than 24 hours. To mark China’s 66th national day anniversary, Letv was recognized as one of the most revered Chinese brand in the US and was featured amongst the 66 Chinese brands at Times Square in New York.
Since then, Letv has broadcast live shows of domestic and foreign artists for a fee. From Sept 19-28 this year, Letv had a live-streaming schedule of 20 shows, including the 2015 Global Citizen Festival headlined by Beyonce and Coldplay on Sept 26 in New York City, with 18 yuan (US$2.8) charged for each show.
About Letv : LETV is a listed company in China. Headquartered in Beijing, this 11 years old company has grown into a full-fledged multinational with a wide range of products including smart phones, smart TVs, smart electric vehicles, movies and TV shows and sports events.
It is China’s first company to pioneer the concept of “ecosystem” products. LETV has China’s largest content library, including movies, TV dramas, entertainment shows, concerts, and sports games, which could be viewed on LETV’s terminals, like phones, TVs and electric vehicles, and these terminals could be interacted through LETV’s eco-network.