Devine Entertainment Corporation announced today it will be establishing an online content distribution unit to increase revenue growth stemming from digital downloading of film and TV content. Devine’s new Digital Content Group will work toward maximizing revenue opportunities in video-on-demand, wireless and mobile communications, Internet and other new electronic distribution channels.
“Video-on-demand, IP-based channels and other novel digital solutions will be the most important growth areas for the global entertainment industry in the coming years, and we intend to fully monetize our proprietary library to meet this projected demand for content,” said Devine’s President and CEO David Devine. “Our Digital Content Group will work across every level of the Company to maximize synergies to best profit from the enormous potential of these digital distribution channels.”
The Digital Distribution Group is part of Devine’s strategy to maximize the sales and revenues of its acclaimed proprietary film and TV library. The entertainment industry is in the midst of a technology convergence revolution that is unifying traditional entertainment channels in film and home entertainment with mobile communications technology and broadband computer technologies.
Devine is currently negotiating with the top digital and VOD distribution companies. Spending related to the distribution of entertainment and media on convergent platforms is growing at double-digit rates and is expected to surpass 50% of global spending by 2011.
Brian Solomon is a Web Editor for TMCnet, covering news in the IP communications, call center and customer relationship management industries. To see more of his articles, please visit Brian Solomon’s columnist page.
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