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[quote=MARRIE,367163]By Zhu Shenshen  |   2009-5-27  -Shanghai Daily

MORE than 200 people congregated in the loft of a building in Shanghai last month to watch videos. But this was no film festival or social outing.

The event was staged to allow students and other amateur video makers to showcase their creative talents to Websites, TV stations, telecommunication operators, advertisers and other commercial companies which are eager to cash in on China's booming Internet video market.

"It's been a long march for the industry in past years, but now we feel we are close to some success," said Wang Wei, chief executive of Internet video player Tudou.com, which organized the event. "I never doubted the opportunities presented by the Internet, and now it's time for both podcasters and Websites to cash in."

Tudou hasn't been profitable since it was founded in 2005, or for that matter, other Websites too.

Still, Tudou, Youku.com and other Chinese YouTube-style Websites have been attracting attention and some venture capital, even if the investments have yet to yield much profit, industry analysts said.
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