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
Celestial Tiger Entertainment
T: 8522626 8131
For Lionsgate corporate inquiries, please contact:
Peter D. Wilkes
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