NEW YORK, June 18, 2015 /PRNewswire/ -- YOU On Demand
Holdings, Inc. (NASDAQ: YOD) ("YOU On Demand" or "YOD"), a leading
Video On Demand ("VOD") service provider in China delivering Hollywood movies and premium content to mobile
and TV screens, announced today that based on the collaborative
success of its original partnership (from August 2014) with Beijing Hiveview Technology Co,
Ltd. ("Hiveview"), a wholly owned subsidiary of Dr. Peng Telecom and Media Group, Ltd. (publicly
listed on the Shanghai Stock Exchange) ("Dr. Peng Group"), both companies have agreed to
expand the existing distribution agreement to closer integrate YOU
On Demand's services with Dr. Peng
Group's branded consumer products and broadband
services.
Dr. Peng Group is the largest
private telecommunications operating company in China, with broadband coverage reaching
approximately 9 million homes across the country. Hiveview is the
operating entity of the Domy line of products, and is responsible
for development, production, operations, sales and marketing of the
Domy Over-the-Top (OTT) set-top box ("Domy Box") and the Domy Smart
TV.
Under the expanded collaboration and special promotion, Dr
Peng Group will provide 1-year or
2-years of automatically activated and bundled YOU Hollywood
service, to both the first 2 million purchasers of Dr. Peng's new
Domy Box and the first 200,000 purchasers of the new Domy Smart TV,
the latter of which was initially launched in April 2015. The
fee for the YOU Hollywood service will be built into and included
in the sale price of each individual piece of hardware. Upon
the sale of a device, YOU On Demand will receive payment from Dr.
Peng Group.
This latest collaborative effort between YOU On Demand and Dr.
Peng Group is officially being
launched later this month on both hardware devices. These new
consumer products, coupled with Dr. Peng's superior high-speed
closed network broadband service, will allow users to seamlessly
stream HD quality YOU Hollywood content.
Hiveview is anticipating approximately 3 million Domy Box users
and 500,000 Domy Smart TV users by the end of 2015. According
to Hiveview's operational data, there are currently over 2 million
users of the Domy Box since its launch in March 2014, amongst which 40% of whom are
considered "active" on a daily basis. An average Domy Box
user watches close to 4 hours of content on a daily basis.
The promotional launch of this new collaboration will initially
target over 108 cities in China,
including Beijing, Tianjing,
Shanghai, Guangzhou, Shenzhen and other major regions across
China.
The newest Domy products, coupled with the YOU Hollywood
service, will be heavily marketed through multiple channels
including: Dr. Peng's existing e-commerce platform and website, Dr.
Peng Group's broadband service
centers located in key locations in all 108 targeted cities
including prime residential areas, both YOU On Demand's and Dr.
Peng's official company Weibo and WeChat platforms, as well as
other sales channels and social media outlets.
CEO Weicheng Liu, commenting on
the partnership, stated, "We are thrilled about the strong working
relationship that continues to develop between YOU On Demand, Dr
Peng Group and its subsidiary
Hiveview. With the Domy Box establishing itself as a top
device contender in the OTT space, coupled with the introduction of
the new Domy Smart TV that is expected to quickly gain a strong
foothold in the market, we are excited that these innovative
products, which feature the YOU Hollywood HD service, will allow
for Chinese video consumers to experience our extensive content
offering off of Dr. Peng Group's
advanced closed network system which boasts 100Mbps bandwidth to
the home. Penetration of our services on both Dr Peng's continually
expanding hardware lines, in addition to the 108 cities that will
experience this promotional launch, is another strong step for YOU
On Demand as the company continues to pursue its "anytime and
anywhere" strategy of both viewing and delivering premium
content.
About YOU On Demand Holdings, Inc.
(http://corporate.yod.com)
YOU On Demand
(NASDAQ: YOD), is a leading multi-platform entertainment service
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 and Twentieth
Century Fox Television Distribution, 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.
About Dr. Peng Telecom &
Media Group Co., Ltd (www.drpeng.com.cn)
Dr. Peng Telecom & Media
Group Co., Ltd. (publicly listed 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.
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
YOU On
Demand
212-206-1216
jason.finkelstein@yod.com
@youondemand
corporate.yod.com
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SOURCE YOU On Demand Holdings, Inc.