[SHANGHAI, 8 April 2016] YOOYA Media, (“Yooya”), a fast growing multi-platform online video network in China revealed it recently closed its Series Seed financing round at a US$13 million post-money valuation. The company will push ahead with plans to further build out its video distribution services, enhance its rights management capabilities, and deploy an enlarged suite of video-based marketing and advertising solutions.
FastForward Innovations Limited led the latest investment round, with previous investor Dream Incubator Inc. of Tokyo also joining the round.
Currently, with over 200 million network views on average per month, Yooya predicts it will hit more than 800 million video views per month before the end of 2016, representing month-on-month growth of 40%.
“The three-way intersection of China, entertainment, and online video makes for one of the most exciting media and marketing arenas worldwide today. Advertisers in particular are hungry for new solutions to tap into this fast-growing, media—solutions which also require access to both comprehensive distribution and the best creators in China,” says CEO Rick Myers, who highlights that Yooya has a deep portfolio of targeted advertising solutions for both Chinese and international advertisers.
Yooya offers video advertising technology (adtech) solutions that allow marketers to reach targeted online video audiences based on their target demographics in China. Yooya also provides video licensing and rights management services to a rapidly rising number of both China and international rights owners and leading content providers.
“China is the world's second largest economy behind the United States. The Chinese entertainment industry experienced tremendous growth and monetization in 2015 and is expected to surpass the US market in the first half of 2016. Yooya is very well positioned to be at the forefront of this growth. Yooya's target market, the Chinese millennial, is large, lucrative, and pre-disposed to consume their video content online—and not via TV,” said CEOLorne Abony of FastForward Innovations.
Yooya has deals in place with 20 of the country’s leading online video platforms, including Youku Tudou, Baidu-owned iQiyi, Sina, and Sohu.
Today China has three times more online video users than the US, and half a billion smartphone users, who consume more video online than all of YouTube globally. Yooya forecasts that by 2020 China will become the largest market for many global content companies and consumer brands.
Yooya is one of China's fastest growing online video networks and provides comprehensive content distribution, rights management, and video-based advertising solutions.
Yooya’s one-stop, technology-driven approach to online video in China delivers broader distribution, better data & analytics, superior monetization, and more effective video advertising solutions to the company’s clients.