By a News Reporter-Staff News Editor at China Weekly News -- Entertainment Direct Asia Ltd. (EDA) is poised to dramatically accelerate and expand its digital content distribution in the China market after securing over US$1,200,000 of financing.
Tokyo-based strategic consulting and business development firm Dream Incubator Inc. was the lead investor in the round, joined by angel investors from Shanghai and the U.K.
EDA forecasts massive potential in China as the country goes through a major shake-up in which dramatically improved legal protection is given to content rights owners. EDA's strategic plan is to tap into this radical transformation and act as a major facilitator for rights owners across the globe who are entering the China market.
Digital media venture studio Designed for Revolution Ltd. (DFR Asia) originally conceived and launched EDA, and will play an ongoing management role.
EDA cofounder Rick Myers, who is also a director of DFR Asia, said, "We are in the midst of an online video revolution in China. The video market is growing rapidly and represents a phenomenal opportunity. We are delighted to be in a position to help the world's leading content owners better distribute, manage, and monetize their content in this market. This new round of funding will help us accelerate our progress in strengthening our service offerings to rights owners."
EDA's core team consists of seasoned professionals from media and entertainment companies such as Sony, WPP, Apple, PPS, and Sina. Alex Wang, who recently joined EDA as General Manager, heads the strategy and operational side of the business.
Mr. Wang said, "EDA's commitment is second-to-none and the company continues to expand so that it can fully capitalize on the incredible opportunity that now exists. The timing is absolutely perfect."
EDA is perfectly positioned to service the exploding online video market in China, where YouTube is blocked and as many as eight alternative video service providers split the almost 450 million viewers who devour 5.7 billion hours of content every month. 76% of people surveyed in China already say they would rather watch online videos than TV.
Under one roof, EDA offers three key elements for online success in China's fragmented digital content landscape: consumer engagement, content management, and monetization--all powered by essential optimization tools, analytics, and a robust purpose-built platform.
Keywords for this news article include: China, Entertainment Direct Asia Ltd.
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