"Warcraft," the movie based on the hit computer game, is set to be streamed in China as a local company has secured rights to the film.

"Warcraft" was considered as one of the high-budget films released this year, but the movie was a flop in the US. However, it was a hit in China, paving the way for an on-demand streaming rights deal in the country.

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PPTV, an online video network based in Beijing, reportedly secured a deal to stream "Warcraft," China Economic Review reported. The network reportedly paid about USD$24 million for the rights to post-theatrical online streaming.

Legendary Entertainment, the studio which produced "Warcraft," allegedly secured the deal with PPTV long before the release of the movie in theaters. PPTV will reportedly be launched in September.

There are speculations that the amount PPTV paid is twice the usual price for post-theatrical rights for movies on the market. The "Warcraft" streaming deal is speculated to be the beginning of a new revenue opportunity in the film industry.

However, according to Yibada, the video streaming market in China could still face hurdles despite the country being one of the largest movie markets in the world. China's video streaming industry is still "young" as compared to the US'.

Furthermore, the issue of piracy is also a problem that could hinder possible revenue in the film industry.

On the other hand, Hong Kong's PricewaterhouseCoopers entertainment partner Cecilia Yau stated that the country is experimenting with making viewers pay for films that have already been shown in cinemas. Yau added that although the number of video streamers is not as big as in other markets, "the trend is growing."

TagsWarcraft, PPTV