NEW YORK, Nov. 12, 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 TV and
mobile screens, announced today an exclusive distribution and
service partnership agreement with China Network Television's
("CNTV") IPTV operating entity Ai Shang Media ("CHINA IPTV").
Under existing government regulations, CNTV is the sole national
broadcast controller of all of the country's IPTV platforms across
all 31 provinces. In each region, the local telecom operators
provide 2-tiered service of bundled broadband and IPTV services,
which carry both live TV and on demand content from CNTV and local
provincial TV stations. For example, over the last several
years, China Telecom, one of the big 3 telecom operators in
China, has expanded to 40 million
IPTV subscriber homes in southern China.
CHINA IPTV, created as a joint
venture by CNTV and Shanghai Media Group, is the only integrated
for-profit IPTV platform operating nationwide under CNTV's
authorization. As of today, CHINA IPTV has consolidated more than a dozen
local IPTV platforms covering 15 million subscriber homes and aims
to accomplish its mission of covering all IPTV users, existing and
new, by the end of 2017.
Under the terms of the agreement, CHINA IPTV and YOD will work exclusively to
provide Hollywood movie content to
all IPTV users in China. YOD will
have the first right of refusal on all movie content distribution,
so that any content that CHINA
IPTV looks to distribute will always be sourced first from YOU On
Demand.
"CHINA IPTV selected YOU On
Demand as one of our most favored content partners based on the
fact that YOD is already a recognized name with established service
partnerships with some of the leading IPTV and OTT operators in
China," stated Ms. Jing Jing He, the Chief Editor and Executive
Vice President of CHINA IPTV, "We
also believe that YOD can help, with its rich experience in both
content distribution operations and marketing, to expedite our
integration with local IPTV platforms."
CEO Weicheng Liu, commenting on
the partnership, stated, "Aligning YOD's content alongside such a
strong, centralized national platform, will help strengthen both
the YOD brand as well as its reach. This deal is particularly
significant to YOD on multiple levels. First, it makes YOU On
Demand the exclusive gatekeeper of Hollywood movie content to potentially 40+
million IPTV users. Second, it provides YOD, in addition to
the typical SVOD and TVOD revenue split, a separate and additional
recurring revenue that will be tied to its heavy involvement in
CHINA IPTV operations and
marketing and how those engines drive CHINA IPTV growth and expansion."
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,
Miramax, 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 both New York, NY
and Beijing, 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