HONG KONG, Feb, 17, 2012
/PRNewswire/ -- Celestial Tiger Entertainment (CTE), the
recently-launched independent Asian media company, today announced
several major content licensing deals for Video On Demand (VOD)
rights with multiple platforms in China, including iQIYI, Sohu, YOU On Demand
and Youku.
The deals establish CTE's presence as a significant content
distributor in Asia in addition to
its operation of six branded pay TV channels across Asia Pacific. The deals encompass feature
films and television content from the Lionsgate (NYSE: LGF)
library, and enable CTE to further penetrate China's booming 2 billion-plus RMB
($300 million U.S.) video-on-demand
market. Lionsgate, a diversified global entertainment
company, is partnered in CTE with Saban Capital Group and Astro's
Celestial Pictures.
"These VOD deals represent just the first step for CTE's content
distribution in China," said
Wendy Reeds, CTE's Executive Vice
President, Content Sales and Distribution. "CTE has a strong
library of film and television content from Lionsgate, as well as
original CTE productions, that we are proud to bring to viewers in
China."
"We are pleased to have the opportunity to work with the leading
video-on-demand companies in China
to strengthen their product offerings to their users, and we are
excited about participating in a market that is achieving such
unprecedented growth," said Jenny
Suen, Director, Content Sales and Distribution.
CTE noted that its content licensing deals meet a rapidly
growing need for copyrighted content in the intensely competitive 2
billion RMB Chinese online video market, which is poised for
continued strong growth after a 170% increase in 2010 over the
previous year. As the exclusive sales agent for all of Lionsgate's
content in Greater China and Southeast Asia, CTE has access to a
vast array of commercially successful and critically-acclaimed
films and television series, and the licensing deals announced
today included Quentin Tarantino's classic Reservoir Dogs,
Lionsgate's Oscar-winning drama Monster's Ball, director
David Lynch's sci-fi classic Dune, the action franchise
Crank, and the multiple Emmy© Award-winning television
series Mad Men.
CTE's licensing deals are for non-exclusive VOD rights with the
following companies:
- iQIYI is an independent online video company founded by
top Chinese search engine Baidu (NASDAQ: BIDU), and Providence
Equity Partners, and focuses on licensed, high-definition,
professionally-produced content. For more information, please visit
http://www.iqiyi.com/.
- Sohu.com Inc. (NASDAQ: SOHU) is one of China's leading Internet companies with
services encompassing news, search, communication, and
entertainment, with a strong presence in the online video
industry. For more information, please visit
http://www.sohu.com/.
- YOU On Demand Holdings, Inc. (OTCBB: CBBD/CBBDD) is a
leading national Pay-Per-View and Video On Demand platform that
offers premium content on a transactional and subscription
basis. For more information, please visit
http://www.yod.com/
- Youku Inc. (NYSE: YOKU) is China's leading online video site, and
features user-generated, self-produced, and licensed content from
over 1,500 content partners. For more information, please
visit http://www.youku.com
Media enquiries
Pauline Poon
Celestial Tiger Entertainment
T: 8522626 8131
E: pauline.poon@celestialtiger.com
For Lionsgate corporate inquiries, please contact:
Peter D. Wilkes
310/255-3726
pwilkes@lionsgate.com
About Celestial Tiger Entertainment
CELESTIAL TIGER ENTERTAINMENT (CTE) is a diversified
media company dedicated to entertaining audiences in Asia and beyond. The company focuses on the
operation of branded pay television channels, content creation and
content distribution targeted at Asian consumers.
CTE operates a powerful bouquet of distinct pay television
channels including: CELESTIAL MOVIES, the most broadly distributed
24-hour Chinese and Asian movies channel in the world; CELESTIAL
CLASSIC MOVIES, the gateway to an unparalleled array of Chinese
movie masterpieces; CELESTIAL MOVIES ON DEMAND, Celestial's
subscription Video On Demand service; KIX, the ultimate in action
entertainment; Thrill, Asia's only
horror and suspense movie channel; and KIX HD, featuring the best
of action with a late-night dose of thrillers in high
definition.
As one of Asia's largest
vertically integrated entertainment companies, CTE produces
original content which complements its channels business. CTE is
also the exclusive sales agent of content in all media in
Southeast Asia and China from independent Hollywood studio Lionsgate.
Headquartered in Hong Kong, CTE
is a joint venture among Saban Capital Group, a leading private
investment firm specializing in the media, entertainment and
communications industries; Celestial Pictures, a major Asian
entertainment company wholly-owned by Astro, the owner and operator
of the leading DTH platform in Malaysia; and Lionsgate, the world's largest
independent filmed entertainment studio.
SOURCE Celestial Tiger Entertainment