Press Release #163 (6/10/13) iN DEMAND
For release June 10, 2013
BRUNO WU'S SEVEN STARS MEDIA AND iN DEMAND PARTNER TO DELIVER PROGRAMING IN CHINA
Deal Also Brings Chinese Movies On Demand to U.S. Cable Systems
New York and Beijing, June 10, 2013 - In a groundbreaking bi-lateral programming relationship, iN DEMAND L.L.C. has entered into an agreement with Seven Stars Media Limited, a leading Chinese media company, it was announced today by Bruno Wu, Chairman, Seven Stars and Bob Benya, President & CEO, iN DEMAND. iN DEMAND, the leading distributor of transactional Video On Demand (VOD) and Pay-Per-View (PPV) for the U.S. cable industry, will provide content services to Seven Stars for distribution in China. Such content is planned to initially feature sports, music programming and extensive lifestyle content, covering such areas as travel, home and garden and parenting, expanding over time to supply a broad variety of niche channels. iN DEMAND will license, process and deliver content to Seven Stars, who plan to distribute via branded blocks on cable through MSO's in China with a target audience of 80 million households, and through OTT / IPTV operators and web portals to reach China's 500 million web users.
In addition, iN DEMAND will provide Chinese language on demand movies to cable systems in the U.S. through its digital and set-top VOD platforms. Chinese Americans are the largest Asian American group in the U.S., with a population of over four million.
"The marketplace in China for cable programming holds tremendous promise," said Mr. Benya. "With nearly 200 million cable TV households - of which 70 million are expected to be VOD-enabled within two years - we are laying the groundwork to provide a range of entertainment to China's growing TV viewer base. We are thrilled to be embarking on our international expansion with Bruno Wu's Seven Stars, one of the most entrepreneurial and innovative media entities in China."
According to Mr. Wu, "iN DEMAND has an impressive and long-standing record as the best in the business of content aggregation and preparation. They have the relationships, industry knowledge, creativity and technical proficiency to help us grow our entertainment offerings to Chinese viewers." This agreement signals a partnership between the two parties which is expected to evolve and add multiple projects across the media landscape, including expanded content packages. The first programming is expected to begin distribution later in 2013.
About SEVEN STARS MEDIA LIMITED Seven Stars Media Limited is a leading China-based global entertainment company that focuses on creation, aggregation and distribution of premium content both in Asia and North America. Activities focus on a broad range of entertainment, including film and television production and co-production, mixed martial arts, theatrical and cable TV distribution, as well as large scale event and location based entertainment productions in mainland China and other parts of the world.
About iN DEMAND iN DEMAND L.L.C. is the pioneer and world leader in providing exciting transactional entertainment delivered through television's most innovative technologies. iN DEMAND creates, acquires and delivers programming through cable Pay-Per-View (PPV), Video On Demand (VOD) as well as on digital platforms. It also supplies marketing support, production services and transport for the industry. PPV programming includes movies, boxing, wrestling and mixed martial arts events and the digital out-of-market subscription professional sports packages for MLB, the NBA, the NHL and MLS. The company's VOD products include first-run and library movies, plus subscription movie and entertainment services. Content is delivered in SD, HD and 3D. iN DEMAND's owners are Comcast iN DEMAND Holdings, Inc., Cox Communications Holdings, Inc., and Time Warner Entertainment - Advance/Newhouse Partnership. Further information about the company can be found at business.indemand.com.
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