NEW YORK, Aug. 14, 2014 /PRNewswire/ -- YOU On Demand
Holdings, Inc. (NASDAQ: YOD) ("YOU On Demand"), a leading Video On
Demand ("VOD") service provider in China delivering Hollywood movies to mobile and TV screens,
announced today that it has signed a distribution and service
agreement with Beijing Hiveview Technology Co,Ltd., a wholly owned
subsidiary of Dr. Peng Telecom and
Media Group, Ltd. (600804.SS on the Shanghai Stock Exchange) ("Dr.
Peng Group"). Dr. Peng Group is the largest independent broadband
service provider in China with 8
million broadband homes across the country.
Under the partnership, YOU On Demand will launch its
subscription VOD service on Dr. Peng's Domy
Over-the-Top (OTT) box ("Domy
Box"). The service will include 100 Hollywood movies
available at a time and a 30% monthly refresh rate, targeting
almost 1 million Domy Box users by
the end of 2014.
Domy Box users will be able to
subscribe to YOU On Demand's subscription service for a monthly fee
of 20 RMB. A 6-month and 1-year
service option will also be available.
Both companies have also agreed to further expand their
cooperation in the mobile arena in order to provide customers with
an enhanced multiscreen user experience when combined with OTT on
TV screens.
"We are excited to announce this partnership with Dr
Peng Group, one of the premier ISP
and broadband providers in China,"
said Kevin Lin, CTO of YOU On
Demand. "Dr. Peng Group's
stated goal is to provide its OTT audience with the highest quality
content as it specifically focuses on those users who purchase
cutting edge 100Mbps bandwidth to the home. We are looking forward
to reaching Dr. Peng Group's
expanding broadband subscriber base and are pleased that they have
chosen to showcase our HD service on their Domy Box."
About Dr. Peng Telecom &
Media Group Co., Ltd (www.drpeng.com.cn)
Dr. Peng Telecom & Media
Group Co., Ltd. (600804.SS on the Shanghai Stock Exchange) provides
value-added telecommunications services. The company offers
Internet access, e-government, Internet data center, and private
network and operations services, as well as network security
monitoring, city surveillance, toll-shunt, and other value-added
network services. Its security monitoring solutions include
security surveillance camera unit installation, line connections,
data storage, control center, monitoring center construction,
maintenance services, and operations services. The company also
engages in advertising design, production, agency, publishing,
information consultation, exhibition, cultural, and art exchange
activities; and other services in the fields of newspapers,
magazines, television, radio, Internet, and taxi streaming media,
as well as commercial brand planning, news, public relations,
government relations, and market research businesses. It operates
approximately 20,000 kilometers of metropolitan fiber optic network
in Beijing. In addition, the
company is involved in educational software and a steel smelting
businesses. The company was formerly known as Chengdu Dr.
Peng Telecom & Media Group Co.,
Ltd. and changed its name to Dr. Peng
Telecom & Media Group Co., Ltd. in September 2013. Dr. Peng
Telecom & Media Group Co., Ltd. was founded in 1985 and
is headquartered in Chengdu,
China.
About YOU On Demand Holdings, Inc.
(http://corporate.yod.com)
YOU On Demand
(NASDAQ: YOD), is a leading multi-platform entertainment company
delivering premium content, including leading Hollywood movie titles, to customers across
China via Subscription Video On
Demand and Transactional Video On Demand. The Company has secured
alliances with leading global media operators and content
developers. YOU On Demand has content distribution agreements
in place with many of Hollywood's top studios including Disney
Media Distribution, Paramount Pictures, NBC Universal, Warner
Bros., Miramax Films, Lionsgate and Magnolia Pictures, as well as a
broad selection of the best content from Chinese filmmakers. The
Company has a comprehensive end-to-end secure delivery system,
governmental partnerships and approvals and offers additional
value-added services. YOU On Demand has strategic partnerships with
the largest media entities in China, a highly experienced management team
with international background and expertise in Cable, Television,
Film, Digital Media, Internet and Telecom. YOU On Demand is
headquartered in New York, NY with
its China headquarters in
Beijing.
Safe Harbor Statement
This press release contains certain statements that may include
"forward looking statements." All statements other than statements
of historical fact included herein are "forward-looking
statements." These forward looking statements are often identified
by the use of forward-looking terminology such as "believes,"
"expects" or similar expressions, involve known and unknown risks
and uncertainties. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. You should not
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company's
actual results could differ materially from those anticipated in
these forward-looking statements as a result of a variety of
factors, including those discussed in the Company's periodic
reports that are filed with the Securities and Exchange Commission
and available on its website (http://www.sec.gov). All
forward-looking statements attributable to the Company or persons
acting on its behalf are expressly qualified in their entirety by
these factors. Other than as required under the securities laws,
the Company does not assume a duty to update these forward-looking
statements.
CONTACT:
|
|
Jason
Finkelstein
|
Robert Rinderman or
Norberto Aja
|
YOU On
Demand
|
JCIR
|
212-206-1216
|
212-835-8500
|
jason.finkelstein@yod.com
|
YOD@jcir.com
|
@youondemand
|
|
SOURCE YOU On Demand Holdings, Inc.