Renren and Viki Bring Subtitled Global TV to Renren's 160 Million Users on 56.com
BEIJING and SAN FRANCISCO, July 13, 2012 /PRNewswire-Asia/ -- Renren Inc. (NYSE: RENN), the leading real name social network in China and Viki, the global TV website offering user-generated translations in 150 languages, today announced the launch of "VikiZone", a dedicated section hosted on 56.com, Renren's online video sharing website.
Viki will provide VikiZone viewers with hundreds of hours of Cartoon Network programs and popular TNT dramas originally broadcast in the United States, as well as other global TV content. Starting in August, the shows will be available to Renren users on VikiZone, available 24 hours after airing in the United Sates. VikiZone will be promoted on both renren.com and 56.com, allowing users to easily share global video content across platforms.
"We're thrilled to be partnering with Renren to introduce some of the world's most popular TV shows and movies, with fan-powered translations, to hundreds of millions of potential new fans in China," said Razmig Hovaghimian, Viki CEO and co-founder. "Viki has always had a community drive, which reinforces Renren platform's social nature."
Furthermore, in collaboration with S.M. Entertainment, one of South Korea's largest independent record labels, Viki will stream exclusive K-pop music videos and behind-the-scenes interviews.
In addition to the US-based content, Viki has partnered with Tezuka Productions and other large licensors to bring nearly 50 classic Japanese titles to Renren and 56.com.
"In our continuous pursuit to enhance user experience, we wanted to give our users a wide range of high quality video contents from across the globe. Teaming with Viki, an innovative and resourceful player in video streaming, is an important step towards our goal," said James Liu , Renren's Chief Operating Officer.
About Renren Inc.
Renren Inc. (NYSE: RENN) operates the leading real name social networking internet platform in China. It enables users to connect and communicate with each other, share information and user generated content, play online games, listen to music, shop for deals and enjoy a wide range of other features and services. Renren's platform includes the main social networking website Renren.com, the online games center game.Renren.com, the social commerce website Nuomi.com, and the video-sharing website 56.com. Renren had approximately 154 million activated users as of March 31, 2012.
Viki is a global TV site with TV shows, movies and other premium content, translated into more than 150 languages by a community of avid fans. With over 1 billion videos viewed and nearly 200 million words translated, Viki uniquely brings global prime-time entertainment to new audiences and unlocks new markets and revenue opportunities for content owners. In 2011, Viki announced $20M in Series B funding from strategic investors include BBC Worldwide and SK Planet, a subsidiary of SK Telecom; as well as from existing investors Greylock Partners, Andreessen Horowitz, Charles River Ventures and Neoteny Labs, among others.
Safe Harbor Statement- Renren Inc.
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business and financial outlook and quotations from Renren's management in this announcement, contain forward-looking statements. Statements that are not historical facts, including statements about Renren's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These risks, uncertainties and other factors that may affect the Company's results of operations are summarized in the Company filings or submission the Company made and available on the website of the United States Securities and Exchange Commission at www.sec.com.
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