25 Nov YUUZOO CLOSES SIGNIFICANT INVESTMENT INTO RELATIVITY MEDIA, ONE OF THE WORLD’S LARGEST INDEPENDENT MOVIE STUDIO & ENTERTAINMENT GROUPS, AND SIGNS MASSIVE GLOBAL PARTNERSHIP AGREEMENT
FOR IMMEDIATE RELEASE
YUUZOO CLOSES SIGNIFICANT INVESTMENT INTO RELATIVITY MEDIA, ONE OF THE WORLD’S LARGEST INDEPENDENT MOVIE STUDIO & ENTERTAINMENT GROUPS,
AND SIGNS MASSIVE GLOBAL PARTNERSHIP AGREEMENT
- Investment creates a new end-to-end global powerhouse in content and distribution
- New agreement signed covers a significantly wider space of cooperation than first agreement
- Relativity also becomes YuuZoo’s US franchisee
Singapore, November 25th 2016: Singapore Exchange listed YuuZoo Corporation Limited (“YuuZoo” SGX: AFC), today announced that it has closed an investment into Relativity Media LLC, one of the world’s largest independent movie studio & entertainment groups.
The two companies at the same time have agreed on a deep and wide business partnership covering multiple sectors.
“When we announced the initial agreement at the end of October we already said that the transaction had a tremendous fit where 1 plus 1 equals 10,” said Thomas Zilliacus, Executive Chairman of YuuZoo. “We now are very pleased to announce that YuuZoo and Relativity have agreed to a significantly wider and deeper partnership than originally discussed, which has resulted in a massive global content and distribution engine with presence on all four screens that always have been YuuZoo’s vision; the movie screen, the TV screen, the computer screen and the smartphone screen” he stated.
“YuuZoo is by far the best in class,” says a spokesperson of Relativity. “That is why we decided to significantly expand the initial cooperation plans. Combined we are now a 360° delivery and content engine crossing the globe and reaching billions of consumers. This partnership opens huge new revenue opportunities for both companies.” the spokesperson concluded.
The new business agreement covers the following:
- Relativity will integrate YuuZoo’s “YuuPay” online and mobile payment platform as the payment platform for all of its online and mobile payments for itself, its clients and its users.
- Relativity will make available for distribution through YuuZoo’s social platform, on a 50-50 revenue share, all of Relativity’s film, TV, sport, fashion and music assets, including assets from all of the subsidiaries in which Relativity owns a majority stake.
- Relativity will use YuuZoo’s new “YuuTV” platform as the platform for the distribution of all of Relativity’s content on smartphones, tablets and computers, on a 50-50 revenue share. Relativity and YuuZoo will both market the YuuTV platform through their respective partner and/or franchise networks worldwide.
- Relativity will use, wherever and whenever possible, YuuZoo’s e-commerce, advertising and social networking platforms and content, services and merchandise as well as YuuZoo’s mobile games into the offering of whatever content Relativity offers to its partners, clients and users.
- Relativity will market the “YuuZoo” platform in the United States of America, as a new US master franchisee of YuuZoo.
- Relativity will promote YuuZoo’s “YuuStar” mobile app to talent across all platforms including athletes, actors, musicians, models and celebrities and launch it with the celebrities on a revenue-share basis.
- Relativity and YuuZoo will debut exclusive traditional and virtual reality content for Relativity’s upcoming film and television slates, and create gaming platforms based on Relativity’s film and television IP.
- Relativity and YuuZoo will develop and manage e-sport globally, utilising the significant expertise and knowhow YuuZoo has in China, where its subsidiary YuuGames manages esports across all of China for AliSports as well as for leading government-linked entities
The smartphone has become the main source of entertainment and news for billions of consumers worldwide, and the number of consumers using the smartphone as their main news and entertainment source continues to expand.
YuZoo’s partly patented mobile platform for smartphones, which the Company has built from scratch, offers consumers a unique single platform for all of their social networking, ecommerce, gaming and payment needs. It is distributed through a global network of franchisees and partners in 69 countries with a combined population of more than 4 billion. The agreement with Relativity adds unique world-class content to this, while Relativity’s global partner and distribution network enables an even wider global reach.
YuuZoo and Relativity have both over the last few years built global distribution platforms. Combined, the two companies now cover over 140 countries with a population of more than 5 billion, and strong distribution partners such as Alisports, the subsidiary of China’s e-commerce giant Alibaba, NTA, the largest TV network in Africa, Etisalat, the largest telco in the Middle East & Africa and many more.
As part of the new agreement, Relativity’s Chairman & CEO Ryan Kavanaugh will join the YuuZoo board while YuuZoo’s Executive Chairman Thomas Zilliacus will join the Relativity board.
Relativity Media LLC (http://relativitymedia.com) is headquartered in Beverly Hills, California, USA. It was founded in 2004 by Lynwood Spinks and Ryan Kavanaugh, who still serves as the CEO of the Company.
The studio has been ranked as the world’s third largest independent movie studio globally. The company’s partners and financial institutions have invested over $20 billion in entertainment investments. Partners and investors include Citibank, Merrill Lynch, Deutsche Bank and others.
More than just a collection of entertainment-related businesses, Relativity is a content engine with the ability to leverage each of these business units, independently and together, to create content across all mediums, giving consumers what they want, when they want it.
Relativity Studios, the Company’s largest division, has produced, distributed or structured financing for more than 200 motion pictures, generating more than $17 billion in worldwide box-office revenue and earning 60 Oscar nominations. Relativity’s films include Oculus, Safe Haven, Act of Valor, Immortals, Limitless, and The Fighter.
In addition to the studio, Relativity’s other key assets include Madvine, a major in-house marketing agency working with world-class brands in strategic marketing, integrations/product placement, brand driven production slates and retail development, Netflix Rent-A-System, where fees are derived from “renting” Netflix Pay TV slots to third parties, and Relativity Music Group, a major music producer.
Relativity is a major player in film production and distribution in the world’s two largest markets, China and India. In China it holds 90% of Skyland Entertainment, a jv with Asian private-equity firm SAIF Partners and IDG China Media, the China-focused investment arm of Boston’s International Data Group, for the distribution of Relativity films and the production of films in China, In India it holds 50% of Relativity BAU, a newly form jv with the Mittal family in India, to produce and distribute local language films in India.
Relativity also holds a minority stake in Independent Sports, one of the largest sport agencies in the world managing professional athletes across the NFL, MLB and NBA.
Founded in 2008 and listed on the SGX mainboard (SGX: AFC), YuuZoo has built a partly patented mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted “tribal” social networking, e-commerce, payments and gaming to hundreds of millions of consumers across all continents. Its revenues grew in the 1st half of 2016 with 242% year-on-year to 81.5 million SGD (USD 58.6 million).
With franchisees and partners now covering 69 countries with more than 4.3 billion consumers, YuuZoo together with its partners and franchisees reaches a huge global audience through smartphones, computers and TV sets.
For more information, please contact:
Manoj Chamanlal, Director, Communications & Business Development
DID: +65 6577 0667
Mobile: +65 8368 6033