Distrify Scores $1 Million Investment, Expands to China

LONDON: The Scotland-based video-on-demand platform Distrify Media has secured $1 million in funding, supporting a landmark deal to launch an international Chinese VOD portal and to distribute locally produced films internationally.

Distrify secured series A investment led by international venture syndicate ESM Investments which, alongside continuing support from other investment bodies, amounts to nearly $1 million.

The VOD provider is the first European VOD company to sign a distribution deal with China’s CNTV and the company’s digital arm Future TV. The deal will see Distrify Media technology deliver Future TV videos online, including mobile apps and Smart TV. Distrify Media also gains a permanent Chinese base at the headquarters of Future TV in Tianjin, China. This builds out its current workforce beyond Glasgow and Tel Aviv. The partnership will see Future TV content, which includes more than 1.5 million hours of programming, become available around the world on the brand-new VOD platform to be developed by Distrify Media. Distrify Media’s current catalogue of titles, available in some 160 countries, will also be available on the new Chinese VOD platform.

The agreement was facilitated by the UKTI (UK Trade and Investment).

Distrify Media's CEO, Andy Green, said, “We have been working hard to grow the business rapidly over the past year. With the exceptional work of UKTI and ongoing support from Scottish Development International, and the European Commission, we are now in the position to enter into such a significant and unique agreement with CNTV. Our partnership will benefit our existing rights holders and distributors as well as forging new ground in China, a priority territory for any content producer or distributor. The deal will also allow us to showcase Chinese content around the world and finding new audiences. In addition, the appointment of our new Chairman David McIntosh demonstrates the ambition of Distrify Media to become the world leader of video monetization online.”
 
Chairman David McIntosh added, “ESM has a very specific focus on technology companies that have highly scalable software technologies; Distrify Media has this scalability and I’m excited to come on board.”
 
The CEO of Future TV, Xiong Zhihui, said, “Distrify Media is world-renowned video platform with substantial operational experience. Its advanced video player technology and data measurement system has helped it to successfully launch into many countries worldwide. The partnership between Future TV and Distrify Media is an alliance of giants. This integration will promote Future TV’s premium video content around the world on one hand, and on the other, enrich Distrify Media’s offer to its audience. Most importantly the partnership will promote the spread of Chinese culture.”
 
UK Trade and Investment's digital media specialist, Gina Fegan, commented, “UKTI is delighted its support in China is delivering access for innovative U.K. companies to global business opportunities. It is particularly pleasing to see this very practical example of success in the UK China Year of Cultural Exchange. Distrify Media shows how this support brings real value to both partners and opens the door for others to follow.”