Cineverse Corp | September 26, 2023
Cineverse Corp., a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, announced today a partnership with Whip Media, the leading enterprise software platform and data provider to the world's largest entertainment organizations. Using its Content Value Management (CVM) software platform, Whip Media will help Cineverse automate and more efficiently manage content partner royalty payments for its expansive distribution network across Cineverse direct and third-party platforms.
Cineverse distributes content from hundreds of content providers through its FAST/AVOD channels, SVOD service, TVOD/EST distribution and physical home entertainment products.
The rapid growth of Cineverse required a new system to scale and efficiently handle financial activities for the high volume of content partner contracts and licenses, such as royalty calculations, revenue statement generation and issuance of payment to partners on a monthly and quarterly basis. Currently, Cineverse must create over 1,700 complex financial statements per quarter which require significant manual effort to manage.
Cineverse will leverage the CVM Platform for Content Partner Payments to capture all contractual financial terms for each content provider, and ingest performance and revenue data from Matchpoint Insights – part of Cineverse's proprietary suite of streaming technology products. By consolidating sales, performance, and revenue data, CVM can automate the calculation of royalties due to each provider and accurately generate royalty statements. What has historically been a manual process will be transformed into a highly scalable solution that radically reduces costs, increases efficiency, and improves accuracy.
"We're excited to partner with Cineverse, an entertainment technology and streaming trailblazer that has created an innovative solution that eliminates the expensive, time-consuming manual process required for preparing film and television assets for broad global distribution," said Saj Jayasinghe, Whip Media's EVP of Global Revenue. "Our partnership will allow Cineverse to optimize their workflow and automate their digital supply chain by utilizing our platform to streamline their financial reconciliation process and extend automation to a much higher level on the financial side."
"Our partnership with Whip Media is critical as it helps fill a gap in our technology stack. We feel that developing financial-based software is not our core competency so partnering with Whip Media and leveraging their best-in-class technology allows us to address a significant unmet need in the rapidly growing streaming marketplace: an end-to-end solution from content ingestion and delivery all the way to reporting and payment," said Tony Huidor, Chief Operating Officer & Chief Technology Officer at Cineverse. "This comes at a time when the legacy entertainment industry desperately needs to shift towards video-on-demand and FAST services, giving us the ability to scale quickly via automation and pave the way via an all-in-one solution."
About Whip Media
Whip Media is reimagining content licensing to create a smarter, more connected entertainment ecosystem. We help the world's leading entertainment organizations succeed in today's high-volume, high-velocity global content environment with a market leading cloud software platform that combines unique, actionable insights with scalable, connected workflows for licensing, content planning and financial operations.
Cineverse is a global streaming technology and entertainment company with one of the world's largest portfolios of streaming channels and content libraries, all powered by its advanced, proprietary technology platform. Cineverse currently features enthusiast brands for subscription video on demand (SVOD), advertising-based video on demand (AVOD) and free, ad-supported streaming television (FAST) channels. Cineverse entertains consumers around the globe by providing premium feature film and television series, enthusiast streaming channels and technology services to some of the world's largest media, retail, and technology companies.
Xsolla | September 21, 2023
Xsolla, a global video game commerce company, has announced a new online destination called Xsolla Mall. This platform allows video games to host multiple landing pages where players can access exclusive in-game items, game discounts, and premium experiences directly from developers and publishers or via campaigns with content creators and payment providers.
Developers can showcase and monetize content from their games on a specific branded landing page within the platform, even the entirety of a game. There is already a growing library of cloud games accessible through the Xsolla Mall, supported by the Xsolla Cloud Gaming solution. Xsolla Mall also merges video game content and the convenience of multiple local payment methods with the power of content creators and influencers into one cost-effective platform, providing a wide range of generating incremental revenue for games.
Xsolla Mall provides developers and publishers with a new distribution channel, reducing overall customer acquisition and retention costs, growing brand awareness, increasing player engagement, and generating more profit for their business.
"Xsolla Mall unlocks a new direct-to-consumer distribution channel for delivering games and in-game content on the web," said Chris Hewish, CEO of Xsolla. "We aim to help developers tackle current market challenges like the high cost of acquiring and retaining players, high distribution fees, and increasing the number of paying players so they can earn and keep more of the profits from the sale of their games and in-game content. Xsolla Mall perfectly aligns with our mission to bolster the gaming community by providing developers, influencers, and players with a safe, practical, and engaging platform."
Xsolla is a global video game commerce company with a robust and powerful set of tools and services designed specifically for the video game industry. Since its founding in 2005, Xsolla has helped thousands of game developers and publishers of all sizes fund, market, launch and monetize their games globally and across multiple platforms. As an innovative leader in game commerce, Xsolla’s mission is to solve the inherent complexities of global distribution, marketing, and monetization to help our partners reach more geographies, generate more revenue and create relationships with gamers worldwide. Headquartered and incorporated in Los Angeles, California, with offices in Berlin, Seoul, Beijing, Kuala Lumpur, Tokyo and cities around the world, Xsolla supports major gaming titles like Valve, Twitch, Roblox, Ubisoft, Epic Games, Take-Two, KRAFTON, Nexters, NetEase, Playstudios, Playrix, miHoYo, and more.
Media and Entertainment | September 14, 2023
Entertainment technology industry leader IMAX Corporation® (NYSE: IMAX) and PFT, the creator of AI-powered technology solutions for the Media and Entertainment (M&E) industry, today announced plans to expand their strategic relationship beyond theatrical and into the streaming ecosystem.
Under the arrangement, IMAX will expand access to its Stream Smart™ technology to PFT customers across Europe, Asia, and Australia. The expanded partnership will dramatically increase the global availability of Stream Smart™, which helps streaming platforms deliver maximum picture quality while significantly reducing distribution and storage costs.
"We are thrilled to deepen our partnership with IMAX, an industry trailblazer with a remarkable legacy of revolutionizing the global entertainment industry," said Ramki Sankaranarayanan, Global CEO of PFT. "For over a decade, CLEAR®, our flagship product, has spearheaded digital packaging and delivery services for prominent streaming platforms worldwide. CLEAR® & Stream Smart will help optimize our customers' encoding pipeline, so they deliver better streaming quality while optimizing CDN & storage costs."
"Many of Hollywood's biggest streaming platforms use Stream Smart™ to ensure quality and reduce costs, and we're excited to work with our partners at PFT to extend the reach of our technologies throughout key markets in Europe, Asia, and Australia," said Vikram Arumilli, General Manager of Streaming and Consumer Technology at IMAX. "Our suite of streaming technology products, including Stream Smart™, provides a best-in-class service for direct-to-consumer broadcast and streaming companies, and PFT's' ability to leverage this for their customers is a win-win for both organizations."
PFT and its parent company, DNEG, are industry leaders providing a full suite of technology and creative solutions, including IMAX post-production and 3D mastering.
IMAX and DNEG joined forces in 2022 for post-production, which included Indian films like Jawan, Pathaan, and RRR. This extended partnership will build upon the established theatrical relationship between IMAX and DNEG to develop a comprehensive video optimization solution. Stream Smart™ is an enterprise software product designed to deliver the best image quality and optimize delivery to unlock cost savings. This product was built from cutting-edge scientific advancements, state-of-the-art engineering, trusted studio relationships, and rooted in a real-world at-scale Emmy®-winning collaboration with Disney Streaming Services and SSIMWAVE.
Stream Smart™ will be the centerpiece of the IMAX showcase at IBC 2023. Sign up to meet with PFT and IMAX Streaming & Consumer Technology group at IBC:
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture, and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of June 30, 2023, there were 1,718 IMAX systems (1,638 commercial multiplexes, 12 commercial destinations, 68 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."
About Prime Focus Technologies
Prime Focus Technologies (PFT) is the creator of CLEAR® and CLEAR® AI. It offers streaming platforms, studios, and broadcasters transformational AI-led technology and media services powered by the cloud that help them lower their Total Cost of Operations (TCOP) by automating their content supply chain. PFT works with major companies like Walt Disney-owned Star TV, Channel 4, ITV, Sinclair Broadcast Group, A&E Networks, Warner Media, PBS, CBS Television Studios, 20th Century Fox Television Studios, Lionsgate, Showtime, HBO, NBCU, TERN International, Disney+ Hotstar, BCCI, Indian Premier League and more.
DNEG (www.dneg.com) is a world-leading visual entertainment services company for the creation of feature film, television, and multiplatform content, with worldwide offices and studios across North America, Europe, Asia, and Australia.
DNEG's critically acclaimed work has earned the company seven Academy Awards® for Best Visual Effects and numerous BAFTA and Primetime EMMY® Awards for its high-quality VFX work. Current and upcoming DNEG projects on behalf of its Hollywood and global studio and production company partners include Spy Kids Armageddon (September 2023), No One Will Save You (September 2023), The Gilded Age S2 (October 2023), Nyad (November 2023), Aquaman and the Lost Kingdom (December 2023), Lift (January 2024), Dune: Part Two (March 2024), Mickey 17 (March 2024), Godzilla x Kong: The New Empire (April 2024), Garfield (May 2024), Borderlands (August 2024), Furiosa (2024), That Christmas, Coyote vs. Acme, The Gorge, and Animal Friends.