$1MN shot for Distrify seals Future TV VOD deal
DetailsRebecca Hawkes | 09 June 2015
UK video-on-demand (VOD) provider Distrify Media has secured almost US$1 million in series A investment to support the launch of an international VOD portal for China's Future TV.
The funding, led by international venture syndicate ESM Investments, will also help realise the deal to distribute Chinese films internationally, agreed between Distrify and Future TV, the online video arm of China Network Television (CNTV).
In addition, content from Future TV will be delivered online to mobile devices and connected televisions via the Distrify Media platform as part of the deal. Over 1.5 million hours of programming will become available around the world on the Distrify's new VOD platform. In a reciprocal agreement, Distrify Media's current catalogue of international titles, currently available in over 160 countries, will also become available on the new Chinese VOD platform.
"We have been working hard to grow the business rapidly over the past year. With the exceptional work of UKTI [UK Trade and Investment] and ongoing support from Scottish Development International and the European Commission, we are now in the position to enter into such a significant and unique agreement with CNTV," said Andy Green, CEO, 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. The deal will also allow us to showcase Chinese content around the world and finding new audiences."
Xiong Zhihui, CEO, Future TV, added: "Distrify Media is 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.
"This integration will promote Future TV's premium video content around the world on one hand, and on the other, enrich Distrify Media's offer to its audience. Most importantly the partnership will promote the spread of Chinese culture."
Distrify Media, which recently appointed David McIntosh to the role of chairman, will also now have a Chinese base within the Future TV headquarters in Tianjin, as part of the agreement. It joins its existing facilities in Glasgow and Tel Aviv.