CANNES FILM FESTIVAL, FRANCE, May 10, 2018 (GLOBE NEWSWIRE) -- White Rabbit , the blockchain startup that disrupts the way we distribute and pay for access to films and television series, announced today it signed a content deal with Yeah1 CMG , Vietnam’s leading feature movie platform, in a move that could decentralize the Vietnamese streaming video market. White Rabbit, recently backed by K5 International , will also consult for Yeah1 CMG on its upcoming blockchain project, slated to launch in 2019.
Yeah1 CMG accounts for 22 percent of Vietnam’s box office and its parent company Yeah1 Group owns three TV channels, runs 18 Facebook channels, and 960 YouTube channels, ranking as the No. 1 YouTube network in Asia and No. 7 globally in overall traffic. White Rabbit utilizes peer-to-peer streaming to enable pirated content to be monetized and unsold territories to be monetized, thereby disrupting the closed server subscription model of the traditional streaming industry. Yeah1 CMG will also provide White Rabbit access to its extensive film and series library, to ensure Vietnamese diaspora and cinema fans globally the opportunity to stream Vietnamese content.
“White Rabbit is going to disrupt the streaming industry to the benefit of the entire film industry ecosystem of fans, producers, talent and investors,” said Tung Nguyen Cao, CEO of Yeah1 CMG. “This aligns well with our own ambition and plans, and we look forward to working closely with White Rabbit. This deal also aligns well with Vietnam as a forward thinking, entrepreneurial, rapidly growing market with a very youthful population.”
Yeah1 CMG is currently expanding its content platform services in collaboration with MBCS, R&B Capital Group, Red Film, Comicola (Vietnam’s biggest web-cartoon crowdfunding community), Surfing Holdings, and Green International. Yeah1 CMG currently produces, invests and markets 10-12 films a year and is looking to increase that drastically in the coming years, with 18 films already on their slate for 2019.
White Rabbit’s Founder and CEO, Alan R. Milligan, produced Vietnam’s Venice Critics Award winner “Flapping in the Middle of Nowhere.” Both Milligan and Nguyen Cao have produced films that have gone on to be Vietnam’s official Oscar submission for Best Foreign Language Film.
“In the name of protection, the film industry is losing revenue, as consumers have opted for more accessible forms of entertainment, including streaming pirated content,” said Milligan. “We´ve made it too difficult for our fans to access our films so we´re losing out to other forms of entertainment. Yeah1 CMG and White Rabbit both envision a future where intellectual property is easily broadcast, accessed and monetized, unlike our current business models, which only serve to make life difficult for movie and series fans.”
ABOUT WHITE RABBIT White Rabbit is a browser plugin that aims to resolve the hegemonic business of digital streaming of film and television series. By offering a peer-to-peer tokenized system powered by blockchain technology, users can access content globally, reduce cost by paying producers and creatives directly, revenue share with streaming sites to encourage an innovative streaming market and offer a transparent and instant monetization model for producers, investors, artists and entertainers. White Rabbit is headquartered in Oslo, Norway and backed by prominent advisors including Gregory Carson (Blockhead Capital), Dr. Daniel Baur, (K5 International), Alexander Yarushin (Milbros Software, Heidenreich Innovation), Hans Clemetsen (Javelin Corporate Services), Alexander Hagerup (Vic.ai, Online Backup Company), Tom Emil Olsen (KIND Norway), and Michael Terpin (CoinAgenda, BitAngels). Visit us at https://www.whiterabbit.one/ or join the Telegram group here .
ABOUT YEAH1 NETWORK Yeah1 CMG is the leading investment, production and marketing company in Vietnam, producing over 10 films per year and accounting for 22 percent of the annual Vietnamese box office. Yeah1 CMG also exclusively owns the cinema media of 26 cinemas all over Vietnam with 113 screens and 19,525 seats. Yeah1 CMG is a jointed venture by Yeah1 Group and CMG Asia.
CMG.Asia (California Management Group Asia) is a leading fitness, lifestyle, and entertainment company with facilities in seven Asian countries and 16 well-known brands including California Fitness, Centuryo, UFC Gym CA3, ERI International, Morfit, and CA Republic. CMG.Asia has over five million members. Yeah1 Group is the leading entertainment network in Vietnam. It is a multimedia broadcaster with offerings spanning three TV channels, 18 Facebook channels, and 960 YouTube channels, which ranked the No. 1 YouTube network in Asia and No. 7 globally in overall traffic.
MEDIA CONTACT: Transform Group, whiterabbit@transform.pr
