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.
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SOURCE YOU On Demand