Beijing, March 31 (Reuters) – China’s national entertainment industry group, the World Eagle Entertainment Group, said on Wednesday that it will launch its own streaming service by the end of this year and is also planning to launch a music streaming platform.
The China-based group said it would start selling the streaming service and will offer music and movies through the service in Chinese and English.
It will launch the service later this year.
The service will be launched by the Chinese People’s Television Broadcasting Corporation, a state-run broadcaster that was launched in 2010.
China’s domestic entertainment industry has struggled to make headway in the last decade as its population ages.
Its economy shrank more than 6.4 percent in the first quarter of this decade from a year earlier, according to the World Economic Forum.
(Reporting by Michael Martina; Editing by Tom Heneghan)