Malaysia's media entertainment group Prodigee Media and its digital media division WebTVAsia, signed five Memorandum of Understandings (MoU) with seven global media companies from China, Korea, USA and France.
The agreements were signed today during the ‘WebTVAsia Creators Forum,’ an exclusive event prior to Asia's first digital creator awards, ‘WebTVAsia Awards 2015’ at Sunway Pyramid Convention Centre.
Group CEO of Prodigee Media and WebTVAsia, Fred Chong expressed strong confidence in the long term success of these partnerships with established global players in the film and digital entertainment sectors, "We look forward to building mutually profitable and sustainable ventures with all our partners as Prodigee and WebTVAsia embark on the next stage of growth."
The first agreement was on film investment and co-production between Prodigee Media, Heyi Pictures (China), Stellar Mega Pictures (China) and Wanda Pictures (China). Scope of partnership includes joint investment by Heyi Pictures, Stellar Mega Pictures and Wanda Pictures into an original China film production "Teacher's Diary" by Prodigee Media.
Prodigee Media also signed a strategic partnership MoU with Whaley Technology (China) to form strategic partnership to source, acquire, co-produce, localise and distribute digital video content globally on Whaley's Smart TV platform as well as on international digital video platforms.
Dato' Kamil Othman, Director General of the National Film Development Corporation (FINAS), lauded the move by Prodigee Media to establish closer ties with Chinese film companies. "I have no doubt that Prodigee Media will continue to lead the charge beyond our shores."
In addition, Prodigee Media signed a strategic agreement with CJ E&M (Korea) and Stylehaul (USA) to form a strategic partnership in the Asia region to develop, produce, market and commercialise digital video content together.
Besides, content licensing agreement with Dailymotion (France) allows WebTVAsia and Dailymotion to form global content licensing partnership to develop, manage and monetise digital video content on the Dailymotion platform.
The MoU signings were witnessed by Dato’ Ng Wan Peng, COO of Multimedia Development Corporation Malaysia (MDeC) and Azmir Saifuddin Mutalib, Director of Development and Innovation at the National Film Development Corporation Malaysia (FINAS).