Nasdaq-traded Chinese VOD operator YOU on Demand has added another one of Hollywood’s major studios to its portfolio, Paramount Pictures.
The deal puts some of Paramount’s recent theatrical hits on YOU’s cable-based pay-per-view and subscription video-on-demand services in China, including Transformers: Dark of the Moon and Mission: Impossible – Ghost Protocol.
The company has previously made content licensing deals with Warner Bros., Disney, Lionsgate, Miramax, Magnolia Pictures and Gravitas Ventures, among other suppliers.
Founded by Shane McMahon, son of World Wrestling Entertainment chairman and CEO Vince McMahon, YOU on Demand became the first company to secure licenses from the Chinese government to operate national PPV and VOD services. The company, previously known as China Broadband before ditching the internet side of its distribution model, went public in June 2011 and began trading on the Nasdaq in late May of this year.
However, since debuting on the Nasdaq at around $5.50 a share May 29, the company’s stock price has dropped, to about $4.30 on Wednesday.
The company claims distribution to five million subscribers in China currently and is aiming for eleven million by the end of 2012.