YOKU: Youku rallies as Citi touts potential of new mobile ads

Youku rallies as Citi touts potential of new mobile ads • 11:05 AM

• Citi, which is reiterating a Buy on Youku (YOKU +4.2%), is upbeat about the company's launch of mobile video ads that charge based on performance (i.e. clicks or subsequent user activity) rather than views.
• The firm thinks such ads will boost mobile monetization on account of being easier to sell to advertisers and less content-dependent, and gaining more traction in "low-tier" Chinese cities.
• Citi notes Youku expects performance-based mobile ads to produce "meaningful revenues" in Q4 and Q1, while cautioning mobile isn't expected to make up more than 10% of total revenue in the near-term.
• Mobile now makes up over 30% of Youku's traffic.

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