(Yicai Global) Nov. 3 -- Internet video platform Mango TV, developed and operated by Hunan Happy Sunshine Interactive Entertainment Media Co., is expected to generate a profit ranging from CNY400 million (USD60.51 million) to CNY500 million (USD75.7 million) in 2017 and plans to list soon, online media outlet Ifeng cited the firm's general manager, Cai Huaijun, as saying yesterday at the at the 2018 Advertising Investment Promotion Conference.
Cai expects Mango TV, set up in April 2014, to become China's first profitable video site. The platform has developed rapidly in recent years and currently ranks among the top five integrated video service providers in China.
The sector enjoys a strong user base in China with online video users totaling 525 million in the first half of 2017. The size of the video subscription market in the country is projected to grow swiftly in the next two years.
Mango TV became profitable in the first half of 2017, recording revenue of CNY1.38 billion and net profit of CNY158 million.