Daum, SPTI ink Korea VOD deal
EmptySEOUL -- Leading Korean Internet portal Daum Communications is teaming with Sony Pictures Television International in the territory's first free video-on-demand licensing deal with a Hollywood studio, the companies said Wednesday.
SPTI will license a selection of their titles to Daum, www.daum.net, where they will be available for streaming without charge to consumers. All movies will be ad-supported and available only in South Korea.
"With the rapid growth of the Internet video market, Daum is taking the lead in this market through the groundbreaking deals and strategies we are pursuing," said Choi So-young, chief strategy officer of Daum's media division. "By offering free VOD content from a world-class Hollywood studio such as SPTI, Daum is taking a great step forward to increase our customers' satisfaction while creating a new business model."
SPTI said the business model for this service will represent a new model for VOD providers in Asia.
"SPTI is very proud to be the first to collaborate with Daum to introduce the free VOD model to Asia," said Ross Pollack, SPTI's senior distribution, Asia. "SPTI prides itself on being at the forefront of digital distribution, and this is an example of how aggressively we are pursuing new forms of digital distribution here in Asia."