On June 15, 2011, You On Demand Holdings, Inc. (Public, OTC: CBBD) announced that Warner Bros Entertainment will distribute on-demand movies in China starting this summer, through an agreement with China’s YOU On Demand Holdings.
The Company’s PRC joint venture along with Warner Bros. Home Entertainment Group’s joint venture in China, through a distribution agreement with CAV Warner Home Entertainment Co., Ltd, YOU On Demand Media, consumers will be able to access Warner Bros.’ new release and catalog films this summer through the first national Pay-Per-View and Video On Demand platform in China.
YOU On Demand, China’s first-ever national Pay-Per-View and Video On Demand Platform will distribute Warner Bros.’ films to a potential 200 million cable households. By the end of this summer, the company anticipated that their service will be available in three million cable TV homes in China.
Shares of the company declined 7.27% to $0.102 with volume of 3.97 million shares traded. The market cap of the stock stands at $67.42 million with beta of -3.76. The stock climbed to the new 52 week high of $0.14, its 52 week low being $0.03.
YOU On Demand is the first national Pay-Per-View and Video On Demand platform in China. The Company offers high quality premium content to customers across China through its Near Video On Demand (NVOD), Video On Demand (VOD) and Subscription Video On Demand (SVOD) services.
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