Distrify Media pacts with China’s iCNTV
UK-based online video provider Distrify Media has signed with China’s iCNTV and its digital arm Future TV to launch a Chinese VOD portal. The two partners will also distribute Chinese films internationally.
The deal sees Distrify Media technology deliver Future TV videos online, including across mobile apps and smart TVs. Future TV has more than 1.5 million hours of programming and the deal also includes Distrify’s current catalogue.
Distrify recently closed a fundraising round, led by venture capital group ESM Investments, which combined with other investments raises it war chest to $1m. The Glasgow and Tel Aviv-based company will now also have a base at the Future TV headquarters in Tianjin, China.
UK Trade and Investment (UKTI), the government department that helps British businesses expand overseas, facilitated the deal. Distrify also has support from Scottish Development International and the European Commission.
Distrify Media CEO Andy Green said: “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 find new audiences.”
Future TV CEO Xiong Zhihui said: “The partnership between Future TV and Distrify Media is an alliance of giants. 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.”