NEW YORK, April 28, 2014 /PRNewswire/ -- YOU On Demand Holdings, Inc. (NASDAQ: YOD), a leading multi-platform entertainment and Video On Demand company in China, announced today that its YOU Cinema movie subscription service made its commercial debut on the Xiaomi over-the-top ("OTT") set-top box as part of YOU On Demand's previously announced distribution deal with China Network Television's (CNTV) subsidiary, Future TV Co. Ltd.
Future TV, operating under CNTV's Internet TV broadcasting control license, provides OTT television services to millions of Chinese consumers who receive the service on either their internet-enabled television sets or OTT set-top boxes. Xiaomi is a leading and prominent mobile phone and OTT device manufacturer who has sold over 40 million phones and more than 1 million Xiaomi OTT boxes ("Xiaomi Box") over the past 12 months. The YOU Cinema movie service is being made available first to all Xiaomi Box users and will soon be expanded to cover other Future TV authorized OTT devices and internet-enabled TVs.
YOU Cinema is a paid movie subscription service offering subscribers either a monthly or annual subscription package of movie library titles curated from YOU On Demand's numerous Hollywood studio partnerships. A transactional component that offers newer movie titles for one-off purchases will be added to the YOU Cinema service in the near future.
"We are very pleased with the smooth rollout of our YOU Cinema service on one million Xiaomi Boxes and are very much encouraged by the active adoption of our service by younger Chinese consumers who continue to embrace OTT services," said Weicheng Liu, CEO of YOU On Demand. "We are honored to partner with Future TV and are looking forward to reaching their expanding consumer base as they continue partnering with more OTT terminal manufacturers."
About YOU On Demand Holdings, Inc. (http://corporate.yod.com)
YOU On Demand (NASDAQ: YOD), is a leading multi-platform entertainment company delivering premium content, including leading Hollywood and China-produced movie titles, to customers across China via Subscription Video On Demand and Transactional Video On Demand. The Company has secured alliances with leading global media operators and content developers. YOU On Demand has content distribution agreements 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. The Company has a comprehensive end-to-end secure delivery system, governmental partnerships and approvals and offers additional value-added services. YOU On Demand has strategic partnerships with the largest media entities in China, a highly experienced management team with international background and expertise in Cable, Television, Film, Digital Media, Internet and Telecom. YOU On Demand is headquartered in New York, NY with its China headquarters in Beijing.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
SOURCE YOU On Demand Holdings, Inc.