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Related Party Transactions and Balances (Tables)
12 Months Ended
Dec. 31, 2013
RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]  
Schedule of Relationship between Related Parties and Ku6 Media Co., Ltd.

Entity

 

Relationship to Ku6 Media Co., Ltd.

Shanda Interactive Entertainment Limited (“Shanda”)

 

Controlling shareholder

Shanda Computer (Shanghai) Co., Ltd. (“Shanda Computer”)

 

Wholly owned affiliate of Shanda

Shanghai Shulong Computer Technology Co., Ltd. (“Shanghai Shulong Computer”)

 

Consolidated affiliate of Shanda Games Limited

Shanghai Shulong Technology Co., Ltd. (“Shanghai Shulong”)

 

Consolidated affiliate of Shanda Games Limited

Chengdu Jisheng Technology Co., Ltd. (“Chengdu Jisheng”)

 

Wholly owned affiliate of Shanda

Shanghai Shengyue Advertising Co., Ltd. (“Shengyue”)

 

Wholly owned affiliate of Shanda until April 2014 (not related party thereafter)

Shanda Media Group Ltd. (“Shanda Media”)

 

Wholly owned affiliate of Shanda

Shanda Capital Limited. (“Shanda Capital”)

 

Wholly owned affiliate of Shanda

Shanda Games Ltd. (“Shanda Games”)

 

Affiliate under common control of Shanda

Hurray! Media Co., Ltd.

 

Wholly owned affiliate of Shanda

Shanghai Shengle Information Technology Co.,Ltd

 

Wholly owned affiliate of Shanda

Shanghai Shengda Network Development Co.,Ltd

 

Wholly owned affiliate of Shanda

Seed Music Group Limited

 

Significant influence exercised by Shanda

Schedule of Significant Related Party Transactions

 

 

Year ended
December 31, 2011

 

Year ended
December 31, 2012

 

Year ended
December 31, 2013

 

Related party transactions in continuing operations:

 

 

 

 

 

 

 

Advertising revenue received from companies under common control by Shanda

 

8,076,155

 

12,481,927

 

12,404,031

 

Technical service fees reported in cost of revenues paid to companies under common control by Shanda

 

 

 

335,504

 

Promotion service fees reported in cost of revenues paid to companies under common control by Shanda

 

379,465

 

 

 

Purchase of equipment from companies under common control by Shanda

 

 

 

188,334

 

Loan borrowing from Shanghai Shulong Computer Technology Co., Ltd.

 

6,832,012

 

 

 

Loan borrowing from Shanghai Shulong Technology Co., Ltd.

 

6,503,884

 

 

 

Loan repayment received from Shanda Games Limited

 

 

13,900,000

 

3,300,000

 

Loan repayment paid to Shanghai Shulong Computer Technology Co., Ltd.

 

 

6,769,544

 

 

Loan repayment to Shanghai Shulong Technology Co., Ltd.

 

3,189,527

 

3,135,076

 

3,303,760

 

Loan to Shanda Games Limited

 

14,000,000

 

 

 

Loan to Shanda Capital Limited

 

 

470,000

 

13,865

 

Loan interest income from Shanda Games Limited

 

108,019

 

246,178

 

14,236

 

Loan interest income from Shanda Capital Limited

 

 

10,575

 

14,620

 

Convertible Bond issued to Shanda Media (Note 1)

 

50,000,000

 

 

 

Convertible Bond redeemed from Shanda Media (Note 1)

 

50,000,000

 

 

 

Interest expense for loan from companies under common control by Shanda

 

688,952

 

448,011

 

16,365

 

Interest expense of Convertible Bond issued to Shanda Media (Note 1)

 

375,000

 

 

 

Schedule of Accounts Receivable Balances Due from Related Parties

 

 

December 31, 2012

 

December 31, 2013

 

 

 

 

 

 

 

Shanghai Shengyue Advertising Co., Ltd.

 

4,333,797

 

6,313,489

 

Other companies under common control by Shanda

 

65,240

 

208,495

 

 

 

4,399,037

 

6,521,984

 

Schedule of Accounts Payable Balances Due to Related Parties

 

 

December 31, 2012

 

December 31, 2013

 

 

 

 

 

 

 

Shanghai Shengle Information Technology Co., Ltd.

 

 

190,837

 

Shanghai Shengda Network Development Co.,Ltd

 

 

355,820

 

Other companies under common control by Shanda

 

 

11

 

 

 

 

546,668

 

Schedule of Other Receivables Balances Due from Related Parties

 

 

December 31, 2012

 

December 31, 2013

 

Other receivables due from related parties

 

 

 

 

 

Shanda Games Limited

 

3,389,567

 

 

Hurray! Media Co., Ltd. (Note 20)

 

1,246,641

 

1,246,641

 

Seed Music Group Limited (Note 10)

 

980,000

 

 

Shanda Capital Limited

 

480,575

 

495,196

 

Other companies under common control by Shanda

 

 

45,668

 

 

 

6,096,783

 

1,787,505

 

Schedule of Other Payables Balances Due to Related Parties

 

 

December 31, 2012

 

December 31, 2013

 

Other payables due to related parties

 

 

 

 

 

Shanghai Shulong Technology Co. Ltd

 

3,404,497

 

 

Other related party

 

375,000

 

375,000

 

 

 

3,779,497

 

375,000