|By Business Wire||
|January 29, 2014 04:38 PM EST||
BaoShinn Corporation (“BaoShinn” or the “Company”, OTCQB: BHNN), is pleased to announce that its wholly owned subsidiary Syndicore Asia Limited (“SAL”), has entered into a revised Distribution Agreement For Media (the “Agreement”) with SendtoNews Video Incorporated (“STN”).
On December 15, 2013 SAL was granted the exclusive Asia Pacific (the “Territory”) license to use, modify, edit, reproduce, distribute, feed, communicate, display and transmit STN’s content (the “Content”). This includes all sports video content that is available for distribution in the region through STN’s feeds of its global rights portfolio. SendtoNews would also provide on-going assistance to SAL with regard to technical, administrative and service-oriented issues relating to the delivery, utilization, transmission, storage and maintenance of the Content. For more information about SendtoNews and their content, please visit their website at www.sendtonews.com.The Asia Pacific region includes 60 different Territories, with some of the major countries being Japan, South Korea, China, Taiwan and India. As of June 2013, China alone had 591 million internet users and over 1.1 billion phone subscriptions, including over 300 million 3G users, (Source: China Internet Network Information Center). China is also the number one location in the world to host major sporting events, having retained number one position in Sportcal's Global Sports Nations Index for 2013.
Subsequent to the Agreement, the parties entered into a revised Distribution Agreement on January 20, 2014 whereby STN has agreed to provide SAL transferrable rights for the use, reproduction, storage, display, and transmission of certain content subject to pre-approval in writing from STN. In addition, the revised Distribution Agreement includes changes to the revenue sharing terms, and adds a share of advertising revenue directly resulting from aggregated content by SAL within the Territory.
According to Cisco Systems, roughly 86 per cent of all Internet traffic will be video by 2016, and a healthy proportion of that will be sports video. SAL will strive to become a leading digital content provider for the Asia Pacific region, capitalizing on an explosively growing market with local, regional and national content, including domestic Asian and foreign sports content.
Further, the company wishes to announce the launch of their new website at www.syndicoreasia.com.
“We are very excited about signing this Agreement with SendtoNews, as it gives us a great opportunity to leverage off SendtoNews’ tremendous relationships and distribution partnerships with access to major sporting syndication content for distribution across Asia” said Sean Webster, CEO of BaoShinn. He added “we also hope to obtain and create content from Asia to provide both domestic and international markets previously unavailable digital sporting content, and we believe SendtoNews’ global video rights portfolio for online distribution has great potential to carry an immediate and large number of viewers.”
SendtoNews’ CEO Greg Bobolo commented “SendtoNews is pleased to start this relationship with Syndicore Asia Ltd. We look forward to the potential opportunities presented by expanding in Asia with a local presence, especially given the enormous size of the markets there and their appetite for digital sports media content.”
About BaoShinn Corporation:
Syndicore Asia Limited, a wholly-owned subsidiary of Baoshinn Corporation (Symbol: BHNN), is a cloud-based, multimedia conduit serving a growing, global community of content creators, news outlets and leading brands. Syndicore Asia Limited will be a provider of syndicated sports video media to news organizations in the Asia Pacific region. In addition, Syndicore Asia Limited plans to aggregate content from the Asia Pacific region and provide it to news organizations around the world. Their website is www.syndicoreasia.com.
SendtoNews works closely with the world's leading sports organizations to aggregate and thoughtfully manage the distribution of game highlights, player interviews and other fan-interest content to television, radio, print and online news outlets while preserving and leveraging the value of their premium brands. By controlling the flow of this sought-after content, SendtoNews is able to package and connect new, untapped inventories of sports highlights with large-scale, creative opportunities for major sponsors. With SendtoNews as a centralized, sole-source provider, these sponsors can garner deep market exposure - from national pro sports through development and even amateur leagues - with unprecedented efficiency and metrics-driven transparency.
On the other side of the distribution chain, SendtoNews has created its proprietary News Partnership Network™, comprised of thousands of top national, regional and local sports broadcasters and publishers that are willing to provide guaranteed content distribution in return for a corresponding share of advertising revenues. The news industry is actively seeking viable, 'digital-age' revenue streams to replace the rapid decline in traditional advertising. SendtoNews enables them to meet their viewers' insatiable demand for high quality sports video content while growing their bottom line in a meaningful, sustainable way.
All statements other than statements of historical fact that are included in this press release and that mention activities, events or developments that we believe may occur in the future are forward-looking statements. The use of words such as "anticipate," "continue," "estimate," "expect," "may," "project," "should," "believe" and similar expressions are intended to identify forward-looking statements. Forward-looking statements in this press release include those regarding; whether roughly 86 per cent of all Internet traffic will be video by 2016, and a healthy proportion of that will be sports video; whether SAL can become a leading digital content provider for the Asia Pacific region, capitalizing on an explosively growing market with local, regional and national content, including domestic Asian and foreign sports content; the statements that this Agreement with SendtoNews gives SAL a great opportunity to leverage off SendtoNews’ tremendous relationships and distribution partnerships; and whether SAL can obtain and create content from Asia to provide both domestic and international markets previously unavailable digital sporting content and that the Company believes SendtoNews’ global video rights portfolio for online distribution has great potential to carry an immediate and large number of viewers.”
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Risks that might cause actual results to differ from these projections include, but are not limited to, those discussed in Baoshinn’s most recent Annual Report on Form 10-K, 10-Q and other documents filed by the Company from time to time with the U.S. Securities and Exchange Commission.
Email: [email protected]
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