LOS ANGELES, Dec. 7, 2011 /PRNewswire/ -- Gravitas Ventures, the largest supplier of independent content to the video on demand (VOD) marketplace in North America, announced today that it has formed Gravitas Ventures International (GVI), a new division that will distribute its content to a worldwide audience starting in 2012.
As part of the new initiative, GVI has entered into a deal with YOU On Demand Holdings, Inc. (OTCBB: CBBD), China's leading national pay-per-view (PPV) and VOD platform.
In conjunction with Gravitas' expansion into the international arena, Gravitas executive vice-president Michael Murphy is being promoted to president and head of GVI.
"Our deal with YOU On Demand (YOD) comes within a sea change for film distribution," said Murphy. "Currently, we can put a film in 100 million homes on the same day. Our goal is to place that same film in one billion homes simultaneously. We're going to build GVI the same way we built Gravitas; by focusing on the fundamentals that will meaningfully impact filmmakers with an eye towards scalability. It's exciting."
Added Shane McMahon, chairman and CEO of YOU On Demand: "We look forward to working with the Gravitas team to bring our subscribers films that embrace the independent spirit and continue to deliver the finest in home entertainment."
The GVI-YOD deal is part of a strategy for GVI to expand its relationships with U.S.-based VOD platforms that are increasing their international footprint while partnering with leading foreign players that have a keen sense for the local market.
The GVI-YOD deal comes as foreign box office for American films is reaching record levels. According to the Motion Picture Association of America, foreign box office now accounts for nearly 70% of the worldwide box office. GVI believes VOD will follow suit over the next three to five years as VOD platforms mature abroad. Technology and increased digital distribution will be the driving factor to overall entertainment revenue growth.
About Michael Murphy
Michael Murphy is the president of Gravitas Ventures International, a division of Gravitas Ventures. Before joining Gravitas in 2007, Murphy had significant experience practicing law and living abroad in Europe, Latin America, Asia, and the Middle East.To date, he has garnered distribution deals with more than 75 North American cable, satellite, telco and online VOD platforms for Gravitas content in the transactional, subscription, and ad-sponsored VOD windows.
About Gravitas Ventures
Gravitas Ventures connects independent filmmakers, producers and distribution companies to leading cable, satellite, telco and online distribution partners on a worldwide basis. Working with more than 500 content partners, Gravitas Ventures aggregates and distributes worldwide thousands of hours of feature films, documentaries, animation, alternative sports, comedy, and music concert programming. www.gravitasventures.com
About YOU On Demand Holdings, Inc.
YOU On Demand is the leading national Pay-Per-View and Video On Demand platform in China. The Company plans to offer high quality premium content to customers across China through its Near Video On Demand (NVOD), Video On Demand (VOD) and Subscription Video On Demand (SVOD) services. The Company consists of a portfolio of businesses that include alliances with leading media operators, comprehensive end-to-end content delivery, an exclusive billing solution, governmental partnerships and approvals, and value added services. YOU On Demand has secured strategic partnerships with the largest media entities in China, and has a highly experienced management team with a strong background in Cable, Television, Media and Telecom. The company is headquartered in New York, NY, with its China headquarters in Beijing.www.yod.com
For more information, please contact:
PMK-BNC for Gravitas Ventures International
YOU On Demand
DiGennaro Communications for YOU On Demand
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SOURCE: YOU On Demand Holdings, Inc.