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.
Robert Rinderman or Norberto Aja
YOU On Demand
SOURCE YOU On Demand Holdings, Inc.