💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

NBA, Ant Group launch strategic partnership in China

Published 02/20/2023, 11:25 PM
Updated 02/21/2023, 10:51 AM
© Reuters. FILE PHOTO: An NBA sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song

SHANGHAI (Reuters) -Chinese fintech giant Ant Group said on Tuesday it had entered a strategic partnership with the NBA league in China that would see the two cooperate in areas such as video content, programme broadcasting and membership.

Fans in China would have access to NBA video content on Alipay, the hugely popular payments app owned by Ant Group, the company said in a statement.

The collaboration with the professional basketball league's Chinese business arm will also cover areas such as joint marketing campaigns and digital collectables, Ant Group said.

NBA China last week launched a channel in Alipay that shows user-generated content from NBA China's network of influencers and Alipay's authorised content creators, Ant Group added.

The NBA is one of the United States' most popular cultural exports to China and makes hundreds of millions of dollars a year from its presence in the Chinese market.

However, a decades-long partnership with state broadcaster CCTV was upset in October 2019 when then-Houston Rockets General Manager Daryl Morey tweeted in support of widespread protests in Hong Kong, a Chinese-ruled city that was embroiled in a political crisis that included months of anti-government demonstrations.     

© Reuters. FILE PHOTO: An NBA sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 5, 2020. REUTERS/Aly Song

Morey's tweet, though quickly deleted, was criticised strongly in China, and CCTV stopped showing NBA games immediately, in what became an 18-month blackout. 

Basketball fans in China are watching NBA games at levels close to where they were before the 2019 rift, Reuters reported in December, citing a source familiar with the league's viewership data.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.