Tudou Holds Awards Ceremony for 2012 Tudou Video Festival
Published on Monday, 04 June 2012 09:18 Written by TradersHuddle Staff
SHANGHAI, China, June 4, 2012 (GLOBE NEWSWIRE) -- Tudou Holdings Limited (Nasdaq:TUDO) ("Tudou" or the "Company"), a leading Internet video company in China, announced that the Company held the awards ceremony for the 2012 Tudou Video Festival on June 2, 2012 in Chengde, China. This is the 5th annual video festival co-hosted by Tudou and the China Film Group Corporation ("China Film Group"), the largest film enterprise in China.
With the slogan Be Creative and Live, this year's festival attracted over 15,000 video submissions, with a talented group of 200 video finalists vying for 15 grand prizes. In attendance were over 1,500 producers, directors, writers, studio representatives and advertisers hotly anticipating the opportunity to be involved with the creators of the winning submissions. For studio representatives and advertisers, this gives them an early lead in working with and sponsoring emerging new talents in the Chinese video industry. As an example, this year's event attracted 40 various investment opportunities, with six deals being signed worth more than RMB 10 million. The enthusiasm surrounding the Tudou Video Festival continues to demonstrate Tudou's strong reputation amongst China's next generation of independent film and video producers as well as sponsors looking to leverage these aspiring artists' creative capabilities.
The Sundance Festival, the Tudou Video Festival's foreign partner, was represented by Landon Zakhein, who presented the "Independent Spirit Award." In addition, Gary Wang was joined by Victor Koo, CEO of Youku Inc. (NYSE:YOKU), in awarding the "Youth Role Model Prize" to the Chopstick Brothers. This award was in recognition of the major contributions the two have made in generating increased interest and development for high-quality, short-form videos throughout China.
"After years of hard work, the Tudou Video Festival has built itself into a signature industry event for showcasing the video creations of China's young, aspiring independent video producers and artists. Tudou will continue working with China's community of aspiring artists and helping develop the next generation of film stars," stated Gary Wang, Founder, Chairman and Chief Executive Officer of Tudou. "We plan to continue leveraging this platform as a conduit between both Internet video producers as well as brands from both China and around the world. We believe that the Tudou Video Festival as well as Tudou's other artist-centric initiatives will continue to boost Tudou's influence and appeal amongst China's video enthusiasts, further expanding our unique and creative video content, while also growing our user base and interaction."
In addition, representatives from Tudou, Youku, and the China Film Group, announced the "Chengde Protocol." This announcement calls for increased diligence on the part of the media industry and audiences alike, to further safeguard copyrights, eliminate piracy and protect the common interest of the entertainment industry.
Tudou Holdings Limited (Nasdaq:TUDO) is a leading Internet video company in China providing premium licensed content, use generated content ("UGC") and original in-house produced content. Founded in 2005, Tudou was the first UGC video sharing website launched in China. The "Tudou" brand is one of the most recognized Internet brands in China, and the annual Tudou Video Festival has become a signature event in the online video industry. For more information, please visit http://ir.tudou.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as "may," "will," "expects," "anticipates," "future," "intends," "plans," "believes," "aims," "estimates," "confident," "likely to" and similar statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's ability to execute its business strategies, plans and initiatives; the Company's future business development, results of operations and financial condition; changes in the Company's revenues and certain cost or expense items; the Company's expectations with respect to increased revenue growth and its ability to sustain profitability; the Company's ability to develop new services; the Company's ability to attract users and advertisers and enhance its brand recognition; and the ability of the online video and advertising industry in China to grow at rates projected by market data. Any of the foregoing risks may have a material adverse effect on the Company's business and the market price of its ADSs. Further information regarding these and other risks is included in the Company's 20-F filed with the Securities and Exchange Commission on March 30, 2012. All information provided in this press release is current as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.
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