YOU On Demand Enters JV with Megtron


NEW YORK: YOU On Demand Holdings and Megtron Hong Kong Investment Group have entered into a joint-venture agreement with an aim to develop mobile video apps.

Through its affiliates, Megtron has already delivered more than 50 million smartphones worldwide, and will leverage its relationships with global telecom operators and smartphone manufacturers to support the JV by targeting app placement and installation on between 50 to 100 million smartphones and other mobile devices globally, through pre-installation, online and offline promotion installation, and several app distribution channels. The apps provided by YOU On Demand will feature video content, including film and TV programming, as well as music, games, shopping, news and social media capabilities.

Both companies are pledging $5 million toward the new venture. They will share the app-operating expenses.