尽管去年此产业获得90亿的营收，但几乎没有公司是盈利的。

　　This is because their costs are so high. Buying bandwidth to deliver content to so many usersis expensive, and so are the rights to license content.

　　这是因为他们的成本太高了。购买带宽来为如此多的用户传送内容实在是太昂贵了，版权也是。

　　As a result there have been nearly as many mergers as there are elimination rounds on TheVoice of China, one of China s most popular TV shows.

　　这样的结果是，中国最受欢迎的电视节目中国好声音的淘汰赛有多少轮，那么就有多少兼并案。

　　Last year Youku and Tudou, the most popular online-video sites, merged.

　　去年，优酷和土豆，中国最受欢迎的网上视频网站合并。

　　In May Baidu, an internet-search giant, bought PPS, a video site, for $370m and merged itwith its existing video service, iQiyi.

　　五月，网络搜索巨头百度以3.7亿的价格收购了视频网PPS，并兼并了其现有的视频服务商爱奇艺。

　　Self-interest has helped change the treatment of copyright in China.

　　自利动机让中国人改变了对版权的看法。

　　Several online-video firms are stockmarket-listed, and as a result they take content licencesseriously, especially since as makers of their own shows they now have intellectualproperty to protect.

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