Joost Expands to China

LONDON/NEW
YORK/BEIJING/HONG KONG, July 23: Joost has aligned with the Chinese media
company TOM Group to launch its Internet TV offering in China.

Joost and TOM Group’s
Internet arm, TOM Online, have launched a Chinese version of the service,
delivering broadcast-quality content, at joost.tom.com. Both companies will
primarily source programming from within China. TOM has already secured some
16,000 hours of Chinese programming for Joost from providers such as CCTV, BTV
Media, Huayi Brothers Media Group and CAV Warner Home Entertainment. TOM will
secure advertising for the localized version of Joost, and Joost will provide
the underlying technology.

“Joost has always been a
global service, and our partnership with TOM is a perfect example of the
regionalized offerings we are able to bring to the market,” said Mike Volpi,
Joost’s CEO. “There’s a great market opportunity in China—content
producers who are making high-quality content, advertisers eager to reach
consumers online, and an active online community. Collaborating with TOM, which
operates one of the most popular online portals in China, positions us strongly
in the region.”

Ken Yeung, the CEO and
executive director of TOM Group, added: "TOM Group has a strong foothold
in the Greater China media scene ranging from Internet and wireless to
traditional TV broadcasting. We are the pioneer in widgetizing and modulizing
our portal, www.tom.com, in the region to create a personalized and interactive
user experience. The alliance with Joost will further enhance and increase our
range of Internet service offerings. We are set to bring in a whole new
high-quality video viewing experience with interactivity to our huge base of
local Internet users and at the same time, provide targeted and innovative
advertising solutions that add value to our clients. Riding on the established
and diversified media platform covering Internet, TV, publishing and outdoor
advertising, TOM is leading the way in the avenue where traditional and new
media converge.”

Hong Kong billionaire Li
Ka-shing, a majority shareholder of TOM, also owns a minority stake in Joost.

—By Mansha Daswani