Youku, one of China's major online streaming media platforms, announced in Beijing on July 19 that its mother company, the Hangzhou-based Alibaba Group, had reached a strategic agreement with Suning Sports.

The agreement will let the two sides to share copyright of sports broadcasts.

Suning Sports, which is based in Nanjing, Jiangsu province, owns China's major online sports streaming platform PPTV. And it has licenses for the live broadcast of top-tier domestic European football leagues, the Chinese Super League, the AFC Champions League, and other football competitions.

However, Youku, which is known for broadcasting producing online series dramas and variety shows, is a relevantly newcomer to the sports business.

And it biggest sports foray was the recent 2018 FIFA World Cup when it spent 160 million yuan ($23.5 million) to get exclusive online broadcast copyright for the tournament on the Chinese mainland.

According to Yang Weidong, the head of Youku, the deal between Youku and Suning Sports will also expand to many sports besides football.