2nd Oct 2014 07:17
LONDON (Alliance News) - DQ Entertainment PLC Thursday said it will be able to expand into the growing kids entertainment market in China after it signed a content acquisition deal with the Ciwen Kids unit of Ciwen Media Group.
In a statement, DQ said the six-year acquisition deal covers multiple properties that it has produced for distribution in Greater China, which includes Hong Kong and Macau.
Ciwen Media Group distributes and manages international animation properties in China, and will represent DQ properties for television, home video and video-on-demand distribution in the country. The properties include The Jungle Book, Lassie, Lanfuest Quest, Robin Hood, Iron Man and others.
Ciwen recently launched a video-on-demand service, BuddiesTV, targeting kids in China, and the DQ properties will be featured on the service. BuddiesTV is currently available across most streaming platforms with partners including iQiyi and Tencent Video, BesTV and Xiaomi Media Box in mainland China, Macau and Hong Kong. It is also accessible via iOS- and Android-based apps.
DQ said it will receive a minimum guarantee fee with a revenue sharing arrangement beyond that.
"This deal is definitely strategic for us and will introduce DQE's high quality, global kids' content to China, across multiple platforms. This will be the first time we will be entering this unique and hitherto untapped market," DQ Entertainment Chairman and Chief executive Tapaas Chakravarti said in a statement.
DQ Entertainment shares were up 8.6% at 9.50 pence early Thursday, one of the best=performing stocks on the AIM All-Share index.
By Steve McGrath; [email protected]; @stevemcgrath1
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