NEW YORK, March 18, 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 mobile and TV screens, announced today a distribution and service partnership with Galaxy Internet Television Co., Ltd. ("GITV"), a joint venture founded by China National Radio, Jiangsu Television Station, Baidu's (NASDAQ:BIDU) iQiyi and Dr. Peng Telecom Media Group. This marks YOU On Demand's second partnership with a licensed Over-The-Top ("OTT") platform operator (the first being with CNTV's Future TV).
Starting in April, YOU On Demand will launch its YOU Hollywood service on current GITV platforms in 2 provinces, Zhejiang and Jiangsu, providing some of the best in Hollywood entertainment from YOU On Demand's extensive content library. YOU On Demand and GITV will jointly manage programming and operations, leveraging upon YOU On Demand's rich experience in marketing and curating movie content.
Weicheng Liu, CEO of YOU On Demand commented, "As YOU On Demand continues its commitment to provide premium and diverse entertainment to consumers in China, I am very pleased to announce this partnership with OTT provider, GITV. We are very honoured to be able to partner with the wide array of members that comprise the GITV joint venture. With YOU On Demand's ever-expanding video service as well as GITV's cutting-edge platform, even more Chinese entertainment and video enthusiasts will be able to enjoy the YOU Hollywood OTT service. This second partnership with a licensed OTT platform operator will allow YOU On Demand to further access and expand its reach to an even wider universe of Smart TVs and OTT devices."
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, Twentieth Century Fox Television Distribution, 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.
About Galaxy Internet Television Co., Ltd.
Galaxy Internet Television is a joined venture founded by CNR (China National Radio, JSTV (JiangSu Television Station) and Baidu/ iQiyi. GITV is an OTT license and content service provider for OTT, SmartTV and other content streaming devices in China. The company's main service is to provide a mandate licensing requirement by the state for all terminal devices sold in China with capability of providing video playback services. The company also provides Video On Demand content and CDN hosting services with over 120,000 hours of video contents.
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 Holdings, Inc.