PORTLAND, Ore., June 7, 2012 /PRNewswire/ -- Rentrak Corporation (NASDAQ:RENT), the leader in multi-screen media measurement serving the advertising, television and entertainment industries, today announced it has entered into a landmark joint venture named Sinotrak with Sinomonitor, a leading consumer and media research company in the People's Republic of China. On June 1, the Chinese Government awarded Sinotrak a license to measure all forms of video screens from digital devices in China. The initial screen to be measured will be linear TV through set-top-boxes. The headquarters for Sinotrak will be in Beijing.
As a result of this groundbreaking joint venture, Sinotrak will be the first company ever to be approved by the government of China to deliver census-level TV viewing information combined with advanced targeting capabilities across the entire country. Sinotrak's products will be built from the software platform used in Rentrak's United States TV Essentials service. Sinotrak will give advertisers, agencies, stations and networks the ability to make ad buys based on advanced demographics of product usage information, not just age and sex. In addition, Sinotrak's measurement from millions of TV sets will produce both more granular and more stable ratings, allowing the industry to maximize the value of all Chinese TV inventory.
Significant to this relationship is Rentrak's proven ability to gather anonymous TV usage data from millions of households, a skill that will now be employed in China. Sinomonitor chose to work with Rentrak in order to satisfy the need of the Chinese marketplace and the Chinese government to have accurate, quantitative TV viewing information based on census-level data that only set-top-box measurement can provide versus the unstable, broad-brush data from traditional sampling approaches.
According to recent figures, the Chinese TV marketplace has 1,815 TV stations and there are approximately 155 million digital set-top-boxes in use throughout China.
"China, as the biggest TV market in the world and the engine for global growth, needs a 21st century measurement for TV viewing. Sinomonitor selected Rentrak because of the company's impressive track record of successfully handling hundreds of billions of TV viewing data points on a very timely and accurate basis," said Michael Wen, CEO of Sinomonitor.
"Rentrak is extremely proud to make television history with Sinomonitor, who is a global research leader, to jointly advance the agenda for advanced television measurement in China as well as demonstrating the analytic power that actual census-level TV usage information across multiple viewing platforms delivers to networks, stations, advertisers and their agencies," said Bill Livek, CEO at Rentrak Corporation. "We are proud that two industry leaders through Sinotrak will be creating THE census TV measurement currency in China."
As the well-known and leading media and syndicated study company, Sinomonitor is one of the top 10 marketing research companies in China. Sinomonitor's syndicated database products are regarded as 'media planning currency' in China amongst media agencies, media owners and brand owners. Sinomonitor is a very innovative company that adopts many new and advanced techniques year by year. All of the mainstream media agencies, press medium, OOH media, and digital medium use CMMS and other syndicated database products of Sinomonitor's for many years. For more information on Sinomonitor, please visit www.sinomonitor.com.
About Rentrak Corporation
Rentrak (NASDAQ: RENT) is a global digital media measurement and research company, serving the most recognizable companies in the entertainment industry. With a reach across numerous platforms including box office, multi-screen television and home video, Rentrak has developed more efficient metrics to be used as database currencies for the evaluation and selling of media. Rentrak is headquartered in Portland, Oregon, with additional U.S. and international offices. For more information on Rentrak, please visit www.rentrak.com.
SOURCE Rentrak Corporation