Distrify Media, the Glasgow-based VoD platform, has secured series A investment led by international venture syndicate ESM Investments which, alongside continuing support from other investment bodies, amounts to almost $1 million. The significant funding supports Distrify Media’s continued development and expansion which includes a landmark deal to launch an international Chinese VoD portal and to distribute locally produced films internationally.
The VoD provider is the first European VOD company to sign a distribution deal with China’s CNTV and the company’s digital arm Future TV. The deal will see Distrify Media technology deliver Future TV videos online including mobile apps and Smart TV As part of the deal. Distrify Media also gains a permanent Chinese base at the headquarters of Future TV in Tianjin, China, expanding its current workforce beyond Glasgow and Tel Aviv.
The innovative partnership will see Future TV content, over 1.5 million hours of programming, available around the world on the brand new VoD platform to be developed by Distrify Media. Distrify Media’s current catalogue of titles, currently available in over 160 countries, will also be available on the new Chinese VOD platform, reaching millions of new viewers.
Announcing the deal, Distrify Media CEO Andy Green said: “We have been working hard to grow the business rapidly over the past year. With the exceptional work of UKTI and ongoing support from Scottish Development International, and the European Commission, we are now in the position to enter into such a significant and unique agreement with CNTV. 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 finding new audiences.”