MUMBAI: Zee Entertainment Enterprises Ltd (Zeel) has formed a joint venture company with Geodesic for content monetisation on the mobile and online platforms.
Zeel will have a 60 per cent stake in the joint venture entity, ITM Digital, as it seeks to tap into the convergence and mobile Vas (value-added services) market that is expected to see rapid growth in future years.
Mundu TV, part of Geodesic‘s business that provides live television streaming on mobile phones and desktops, will be brought into the JV, according to a source familiar with the development.
Zeel will offer its wide range of entertainment assets while Geodesic, a provider of content, communication and collaboration solutions, will bring in the technology.
"Zeel has already digitised most of its entertainment content. The JV will not require much investments," adds the source.
The new company will launch real time and on-delivery entertainment applications for the mobile and Internet enabled devices.
Says Zeel MD and CEO Punit Goenka, “The combination of Zee’s expertise in content and programming strength, across media properties and Geodesic’s cutting edge technology is aimed to provide consumers a world of exciting user experiences. This alliance will enable us to deliver optimised levels of Internet integration across our range of assets and product categories. With this venture, we aim to capture the unexplored power of this medium that the Indian audience is fast adapting to.”
As the first step in this collaboration, ITM Digital will launch content-rich and interactive Internet TV on the mobile and desktop platforms.
The application will stream over 20 live television channels and several on-demand video channels. Consumers across all telecom networks will be able to download the application, discover, access, and schedule content through an easy-to-use interface using their data plans (GPRS /EDGE / Wi-Fi) on their mobile phones, desktops and across the web.
“The alliance will allow both companies to drive new growth opportunities and has the potential to ultimately transform the way mobile and digital value added services are consumed by users at large. Geodesic and Zeel are engaging at technology, marketing and business levels to bring information, entertainment and the power of the mobile platform to consumers across India,” says Geodesic MD Kiran Kulkarni.
The two companies are exploring opportunities in extending the alliance to combine Zeel group’s other entertainment assets and Geodesic’s extended mobile products portfolio.
ITM will provide consumers a range of content rich entertainment applications that promises to enhance user experience and provide value and choice to consumers on their mobile phones and desktops.
The Essel group had earlier floated Digital Media Convergence Ltd as part of the network‘s foray into digital entertainment. The activity of integrating digital content aggregation and delivery technology has been brought under Zeel.
