LAS VEGAS, Jan. 12, 2012 /PRNewswire-Asia/ -- On January 11th, 2012, PPTV and WASU Media Group Limited (WASU) announced to form a strategic partnership to explore China's Internet TV and Set-top box market during the International Consumer Electronics Show (CES). The strategic partnership will also cover other new media opportunities. PPTV Online TV and WASU vowed to take full advantage of their strengths in taking the partnership further.
WASU is not only the largest operating TV media company nationwide but was also one of the first companies granted Internet TV Integration Business License by the SARFT (State Administration of Radio, Film and Television) in China. It has since deployed in new media and Three-network-convergence as a forerunner. PPTV, as a leading online television player in China, has unique advantages in copyrighted content resources, internet TV distribution platform and technology of live broadcasting via internet. Its integrated and multi-terminal services contributed to its leading position in online video industry.
During the conference, Mr. Qiang Cao, President of WASU, and PPTV CEO Dr. Vincent Tao both prospected the benefits brought by the partnership for the future Internet TV industry.
For entertainment consumers, the partnership will bring revolutionary innovation to the world of online television. Users will gain access to massive high-definition video content and a vast array of network applications. In addition, a real intelligent human-computer interaction experience, including voice and gesture recognition, voice-controlled intelligent search, multi-screen linkage, interactive games and other customized features will be presented in living rooms. At the same time, functions can be upgraded and content can be watched on demand with a more versatile operating system. Users can now create their own personalized television experience. As television and Internet become more and more integrated, the new generation of online TV is defined by its ability to bring people closer together. Based on PPTV's network of over 240 million user installed base and 30 million mobile internet and smart pad users, online television may soon become a vehicle for social networking. Users can share their video experiences, cast in votes, and even buy clothing and accessories worn by TV characters and have them delivered to their friends and families. In this way, consumer behavior will change from just "watching TV" to "full interaction with TV."
According to the structure of the partnership, WASU will take responsibilities for the integrated broadcast control of online television while PPTV handles the operations and marketing side of the business. The alliance will be sure to bring the best of both companies into play, increasing influence and brand awareness through cooperation and restructuring of resources, while offering customers an online media experience that is safe, healthy, rich, interactive and innovative.
According to a report by Digital TV Research in October 2011, revenue from China's online television is expected to rise from $50 million in 2010 to an estimated $1.38 billion by 2016, implying a growth of twenty seven times. Online television users will also undoubtedly surpass one billion households. According to the report, television terminals in the living room and bedroom will sure become the core of home entertainment, representing a previously untapped market.
Following the promotion in 2012, Three-network-convergence in China will only gain momentum. WASU and PPTV's combined forces will not only facilitate a good reputation among users with a wealth of copyrighted content and leading cross-terminal technology, it will also manifest a complete industrial value chain of integrated online television, from production to broadcasting channels. This strategic partnership will also give rise to new trends in the online video industry and provide a template for the healthy development of Chinese online television.
PPTV Online Television
A subsidiary of PPLive, PPTV is the largest, most popular, most diverse and most recognized online television media outlet in the world, with service reaching to users around the globe. Their three-dimensional online television media service is offered on its integrated video website (www.pptv.com) to PC users, iOS and Android, iPhone and iPad as well as other mobile multi-terminal applications.
WASU Media Group Limited
WASU Media Group Limited is a new and innovative Chinese media and network operating company. Offering full cable network coverage of Zhejiang Province, WASU boasts a massive library of digital content and plans to construct eight bases of operations, specializing in video, music and games. As a licensee in interactive, cellular and Internet television, WASU has supplied media across the screens of PCs, mobile phones, TVs and iPads.