Distrify Media, China's Future TV Ink Landmark VOD Pact
The Scottish company will set up an office in China following investment of $1 million for VOD growth into the country.
Glasgow-based VOD platform Distrify Media has signed a deal with China's Future TV, the digital arm of Internet video player CNTV, part of state broadcaster China Central Television.
The partnership will see Future TV's content, which includes more than 1.5 million hours of programming, become available around the world on a brand new VOD platform to be developed by Distrify Media.
"Our partnership will benefit our existing rights holders and distributors as well as forging new ground in China, a priority territory for any content producer or distributor," said Distrify Media CEO Andy Green. "The deal will also allow us to showcase Chinese content around the world and find new audiences. In addition, the appointment of our new chairman David McIntosh demonstrates the ambition of Distrify Media to become the world leader of video monetization online."
Also, Distrify Media’s current catalog of titles, available in more than160 countries, also will be available on the new Chinese VOD platform, reaching millions of new viewers.
The deal was facilitated by the UKTI (UK Trade and Investment), the government department that works with British businesses looking to grow in international markets, after a series of events in Shanghai, Beijing and London. Britain has been pushing hard to increase links with China, and Prince William recently visited to promote the U.K. industry in China.
In a statement, Distrify Media said the deal was made possible by a $1 million investment led by international venture syndicate ESM Investments, alongside continuing support from other investment bodies.
CEO of Future TV Xiong Zhihui described the linkup as "a partnership of giants." Said Xiong: "Distrify Media is a world-renowned video platform with substantial operational experience. Its advanced video player technology and data measurement system has helped it to successfully launch into many countries worldwide."
Distrify Media already works with many players in the U.K. film and social media industries, including the BFI, Film4, BBC, The Guardian and Creative Europe.