Press Releases2010Jul 23, 2010
ZEEL enters into a JV with Geodesic Ltd.
Zee Entertainment Enterprises Limited today announced its joint venture (JV) with Geodesic Ltd. ZEEL will hold a majority stake in the venture called, Internet Television Mobile (ITM) Digital Pvt. Ltd.
ITM will offer viewers a novel entertainment experience on mobile phones and computers showcasing content from the Zee stable, along with content from other channels as well. Geodesic will act as a catalyst in the process by providing its mobile technology platform.
The formation of ITM is yet another pioneering initiative by Zee in the entertainment space. The ITM model will be subscriber based wherein consumers can avail of packages as per their requirements. The service can be used on both smart phones as well as 3G phones. ITM will deliver comprehensive and personalised content to the consumers.
Speaking on the occasion ZEEL Managing Director and CEO Punit Goenka said, “The combination of Zee's expertise in content and programming strength across media properties with Geodesic's cutting edge technology is aimed to provide consumers a world of exciting user experiences. This alliance will enable us to deliver levels of internet integration across our range of assets and product categories. With this venture we aim to capture the unexplored power of this medium which the Indian audience is fast adapting to.”
The mobile service is expected to undergo a soft launch in India during the month of July 2010. This is expected to have more than 20 live television channels and also an array of on-demand channels. Consumers will be able to access and navigate through a user friendly interface from their mobile phones, desktops or laptops.
“At Geodesic, we believe flexible technology and astute content provides value and a wide range of choice for the consumer. We are excited to partner with Zee for this venture and combine the power of entertainment and technology and present it through the mobile platform to the vast consumer base across India,” Kiran Kulkarni, Managing Director Geodesic Ltd. commented.
ITM aims to capitalise on its expertise to deliver products and services that empower users with easy access to compelling content on demand.