SyQic(AIM:SYQ), the fast growing provider of live TV and on-‐demand video content across mobile and internet enabled consumer devices, announces a further expansion of its contract with Viki to launch cool2vu in India.
Viki – further territory expansion
SyQic announced on 9 March 2015 an expansion of its agreement with global video service provider Viki, to make its cool2vu platform (www.cool2vu.com). available to SyQic customers in Europe, South America and Central America. SyQic is delighted to announce that it has now secured the rights from Viki to further extend its Korean entertainment service into India. The mobile compatible service is available in seven different languages and will now have an addressable customer base of 3.13 billion people across four geographic regions.
The cool2vu service is currently advertising supported until a subscription service is introduced later in the year. cool2vu is already generating advertising revenues in most countries where the service is available. SyQic currently has a revenue share arrangement with Viki.
Jamal Hassim, CEO of SyQic, commented: “We are delighted to be continuing the rapid roll-out of cool2vu, our Korean themed entertainment service, into the vast and dynamic market that is India. According to ComScore, the analytics company for the digital media industry, the total online video audience in India grew by 74 percent between 2011 and 2013 to 54 million viewers. This rapid and continuing growth in the Indian online video market, both in terms of viewers and consumption time, means there could be a substantial upside for the key players in this market. We therefore believe this development could represent a significant commercial opportunity for SyQic.”
For further information:
Jamal Hassim, Group Chief Executive OfficerTel: +44 (0) 20 7933 8780
Steve Elliff, Chief Financial Officerwww.syqic.com
Allenby Capital Limited
Alex Price / Jeremy PorterTel: +44 (0) 20 3328 5656
Walbrook, Financial PR and IR
Guy McDougallTel: +44 (0) 20 7933 8792
Notes to Editors:
SyQic is a fast growing provider of live TV and on-‐demand video content across mobile and internet enabled consumer devices. Incorporated in Jersey and headquartered in the UK, it has a significant service footprint in Singapore, Indonesia and Malaysia.
The Group launched its new Korean content service called “cool2vu” in Malaysia, Singapore and Indonesia in January 2015 streaming high demand Korean content utilising an advertising revenue model.
Viki is a global TV streaming site with TV shows, movies and other premium content, translated into more than 200 languages by a community of fans. Launched in December 2010, Viki now has 35 million viewers every month watching and sharing TV shows, movies, music videos and other premium content from around the world which are translated into more than 160 languages.
With over 26 million mobile app installs and over 800 million words translated to date, Viki brings global prime-‐time entertainment to new audiences and unlocks new markets and revenue opportunities for content owners. Viki was acquired by Japanese internet services giant Rakuten for a reported $200m in September 2013. The company has offices in San Francisco, Singapore, Seoul and Tokyo.