New York, U.S. – YOU On Demand Holdings, Inc., the first national Video On Demand (VOD) platform in China, announced that C Media Limited, a mobile video service provider in China, has made a strategic investment in YOU On Demand totalling US $4 million, with the right to make an additional investment of between US $12 and $21 million. The C Media investment will allow YOU On Demand to more aggressively leverage the booming mobile video space.
YOU On Demand currently has content deals in place with many of Hollywood’s top studios including Disney Media Distribution, Paramount Pictures, NBC Universal, Warner Bros., Miramax Films, Lionsgate and Magnolia Pictures, as well as a broad selection of the best content from Chinese filmmakers.
Commenting on the strategic investment, Xuesong SONG, co-founder, Chairman, CEO and the largest shareholder of C Media said, “Shane McMahon and his team are building YOU On Demand into a world-class company with impressive content and cable distribution capabilities. I have been impressed with their recent penetration into the cable space and I believe their organisation is uniquely positioned to take advantage of the tremendous growth potential in China’s booming entertainment market. We look forward to partnering with YOU On Demand and utilising our mobile industry expertise to support the ongoing expansion of their Video On Demand platform and complementary services.”
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