Update on bollywood.tv
October 29, 2008
Listed investment company Charter Pacific Corporation Limited (ASX:CHF) today updated the market on bollywood.tv, a wholly-owned subsidiary of Charter Pacific.
bollywood.tv is a leading provider of online media content in the Indian market and worldwide non-resident Indian (NRI) market with one of the largest on-line content libraries for Bollywood and regional movies, cricket, sports and entertainment.
Since its formal launch as the online voting partner at the 2008 Star Dust Awards in India (the Indian Oscars) in January this year, bollywood.tv has made significant progress including the following recent transactions:
- Series 2 Indian Cricket League (ICL) Twenty20 – bollywood.tv is the global on-line partner for the ICL and is streaming live all 41 games over 6 weeks which commenced on 10 October. All games are available on a free to view basis and revenues are derived from sponsorship and advertising.
- Reliance Global Call – bollywood.tv has entered into an agreement with Reliance whereby Reliance rewards their customers who purchase telephone air-time with vouchers to redeem movies on the bollywood.tv website. bollywood.tv is paid a fee from Reliance for each voucher redeemed by its customers. Reliance is part of Reliance Communications who is India’s leading integrated telecommunication company with over 58 million customers.
- Real Media Zee Network Dubai - has signed a 17 movie picture deal with bollywood.tv, thereby adding and enhancing the extensive film library and further expanding the relationship between Zee Entertainment and bollywood.tv. Real Media Zee Network Dubai is part of the Zee Entertainment Enterprises group which is India's largest vertically integrated media and Entertainment Company.
Chief Executive Officer of Charter Pacific Corporation Limited, Kevin Dart said: “bollywood.tv is a significant investment for Charter Pacific and one in which we have built great value in since its launch in January 2008.”
“bollywood.tv is more than just movies. It is a 360 degree e-commerce portal which offers cricket, news, entertainment and sports for the ever growing NRI population. We plan to launch a retail section called Bollywood Bazaar to ensure that our customers can purchase all their favourite Indian goods on-line and at one place.”
Charter Pacific is an investment company, listed on the Australian Stock Exchange (ASX: CHF). It invests in a variety of equity investments in listed and unlisted companies. It also manages the wholly-owned subsidiary, Charter Pacific Capital Limited, a rapidly growing independent corporate advisory business to the small and mid-cap companies in Australia and overseas.