Entertainment Direct Asia Ltd., a Shangai, China-based technology company that helps content rights owners get more value out of China, secured over US$1.2m in financing.
The round was led by Tokyo-based strategic consulting and business development firm Dream Incubator Inc. with participation from angel investors from Shanghai and the U.K.
The company intends to use the funds to accelerate and expand its digital content distribution in the China market.
Conceived and launched by Digital media venture studio Designed for Revolution Ltd. (DFR Asia), which will play an ongoing management role, Entertainment Direct Asia offers a consumer engagement, content management, and monetization tools, and analytics to distribute, manage and monetize content 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.
The company is led by co-founder Rick Myers and Alex Wang, General Manager.