Run as an independent company since only 2014, LETV Sports is the fastest growing sports company in China. Supported by the strong LETV Group, the unicorn company is now valued at US$ 3 billion.
"LETV Sports is a leading sports marketing company in China but we market ourselves as a global sports marketing company," said Hang Yu, VP of Strategy at LETV Sports, who spoke to SportsLatam at SPORTELMonaco about the company's business and plans for expansion.
"At LETV Sports, we have an ecosystem composed of four parts: event management, a live video streaming platform, we manufacture and design smart hardware related to sports and provide added-value services," he explained.
In terms of content, LETV Sports holds almost all the important media rights in the market, ranging from football, basketball, tennis, badminton, fighting, cycling, marathon to Formula 1 and golf. The company holds the live streaming rights of UEFA Champions League, Premier League, Bundesliga, Serie A, Ligue 1, Chinese Super League, J-League, K-League, A-League, MLS, Copa America etc.
Regarding event management, LETV Sports is providing comprehensive services, including ticketing, marketing, sponsorship, media rights, hospitality and merchandise.
Concerning smart hardware, LETV Sports shows its strength as a leading technology company. LETV Group has already launched Smart Super TV and Super Smartphone. Moreover, LETV Sports will launch several self-branded smart hardware such as personal camera and exercise equipment.
And last but not least, in terms of value-added services, LETV Sports is creating Lottery, E-commerce, O2O training services to our sports-driven fans, which highlights the mission of LETV Sports: Keep changing the sports lifestyle.
"We provide to our partners a comprehensive solution, from the event to the platform and added value services," he said.
"In addition, we have a globalization plan," he explained, highlighting the company's recent deal in Hong Kong, where it acquired the media rights to the Premier League, beginning next season. "Our next goal is to go to India. We set up an office in Bangalore. We will be selling our hardware in India, including our Smart TV and Smartphone," he said.
"US is always a key market, but we don't go into content business in the US. We do mainly smart hardware and new technology like virtual technology," he added.
"We've become a good brand," the executive said. "Inside and outside China people are keen to working with us," he concluded.