Entertainment Direct Asia Secures New Funding to Accelerate Digital Content Expansion in China
Entertainment Direct Asia Ltd. finalizes over US$1,200,000 round of financing from Dream Incubator and other investors to expand its digital video distribution capabilities.
SHANGHAI, Aug. 20, 2014 /PRNewswire/ — 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.
About Entertainment Direct Asia Ltd. (EDA)
Entertainment Direct Asia Ltd. is a technology company that helps content rights owners get more value out of China. The company is at the forefront of enabling rights owners to better distribute, manage and monetize their content in China. EDA was conceived and launched by digital media venture studio Designed for Revolution (DFR). For more information please visit: www.edirect.asia.
About Dream Incubator, Inc. (DI)
Dream Incubator is a strategic consulting and business development firm primarily for Japanese corporate clients and governmental institutions. DI provides both capital and professional services to next-generation companies to support their growth and expansion, while also operating their own businesses. Established in 2000, DI was listed on the Tokyo Stock Exchange 1st section in 2005 and is currently expanding from Tokyo to Vietnam, Shanghai, and Singapore. For more information please visit: www.dreamincubator.co.jp/entop.
About DFR Asia
Designed for Revolution (DFR Asia) is the first startup venture studio in Asia. Founded in 2008 by Asia media and technology veterans John Possman and Rick Myers, DFR, under its venture studio model, conceives, sets up, funds, and scales new startup ventures from inception. The company’s ventures in Japan and China are leading the transformation now taking place in digital media, mobile, and entertainment in Asia with a sharp focus on fulfilling the rapidly growing demand for online video. For more information please visit: www.dfra.com.
Contact: Alex Wang
Telephone: +86 (21) 63866290