HONG KONG, Feb, 17, 2012 /PRNewswire/ -- Celestial Tiger Entertainment (CTE), the recently-launched independent Asian media company, today announced several major content licensing deals for Video On Demand (VOD) rights with multiple platforms in China, including iQIYI, Sohu, YOU On Demand and Youku.
The deals establish CTE's presence as a significant content distributor in Asia in addition to its operation of six branded pay TV channels across Asia Pacific. The deals encompass feature films and television content from the Lionsgate (NYSE: LGF) library, and enable CTE to further penetrate China's booming 2 billion-plus RMB ( $300 million U.S.) video-on-demand market. Lionsgate, a diversified global entertainment company, is partnered in CTE with Saban Capital Group and Astro's Celestial Pictures.
"These VOD deals represent just the first step for CTE's content distribution in China," said Wendy Reeds, CTE's Executive Vice President, Content Sales and Distribution. "CTE has a strong library of film and television content from Lionsgate, as well as original CTE productions, that we are proud to bring to viewers in China.""We are pleased to have the opportunity to work with the leading video-on-demand companies in China to strengthen their product offerings to their users, and we are excited about participating in a market that is achieving such unprecedented growth," said Jenny Suen, Director, Content Sales and Distribution. CTE noted that its content licensing deals meet a rapidly growing need for copyrighted content in the intensely competitive 2 billion RMB Chinese online video market, which is poised for continued strong growth after a 170% increase in 2010 over the previous year. As the exclusive sales agent for all of Lionsgate's content in Greater China and Southeast Asia, CTE has access to a vast array of commercially successful and critically-acclaimed films and television series, and the licensing deals announced today included Quentin Tarantino's classic Reservoir Dogs, Lionsgate's Oscar-winning drama Monster's Ball, director David Lynch's sci-fi classic Dune, the action franchise Crank, and the multiple Emmy© Award-winning television series Mad Men. CTE's licensing deals are for non-exclusive VOD rights with the following companies: