China Online Video Network Hits Milestone, Secures US$3m in Expansion Capital
SHANGHAI, April 6, 2016 /PRNewswire/ -- Online video network Yooya announced that it has now achieved over four billion lifetime views, with more than 2.75 billion added in the last seven months. The combination of an increasing number of distribution partners and a growing stream of compelling new content on the platform drove this astounding 25% month-on-month growth.
This development coincides with Yooya securing US$3 million, at a post-money valuation of $13 million in its Series Seed financing round.
Yooya has been instrumental in helping content producers monetize China's fragmented online video market by providing a single platform for content distribution, rights management, and advertising solutions. Yooya brings together many key components essential to the equation, including licensing at scale, automated ad sales, consolidated data & analytics, and dramatically simplified content distribution.
For advertisers looking to tap into the large-scale engagement online video in China offers, Yooya provides a single point of contact to access distribution across all major video platforms and access to hundreds of channels, covering key advertising demographics and interest categories.
"Yooya viewership continues to grow at an astounding rate," said Yooya CEO Rick Myers. "This growth reflects the exploding popularity and enormous power of online video in China, but more importantly for rights owners and advertisers, it means that finally there is a viable managed platform on which to build better monetization and more effective video-based advertising."
Currently with over 200 million network views on average per month, Yooya predicts it will hit more than 800 million video views per month before the end of 2016, representing month-on-month growth of 40%.
"The three-way intersection of China, entertainment, and online video makes for one of the most exciting media and marketing arenas worldwide today," adds Mr Myers.
Yooya was recently rebranded from Entertainment Direct Asia.
Yooya is one of China's fastest growing online video networks and provides comprehensive content distribution, rights management, and video-based advertising solutions.
Yooya's one-stop, technology-driven approach to online video in China delivers broader distribution, better data & analytics, superior monetization, and more effective video advertising solutions to the company's clients.
SOURCE Yooya Media