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24h Technologies AB is in full swing with the creation of new businesses in the Philippines. After successfully closing the deal with one of the country's largest entertainment companies, Viva Entertainment, Inc. in May, 24h Technologies AB, through its subsidiary 24h Technologies Manila, has signed a Memorandum of Agreement with the Central Luzon Broadcasting Corporation or CLTV this month.
CLTV is a regional free-to-air TV station currently broadcasting in seven provinces of Central Luzon, Philippines. They are engaged in providing news and public affairs programs and have become the platform for transmitting a freer flow of information to the region.
Part of CLTV's strategy is to increase its reach by tapping their fellow Central Luzon Filipinos residing elsewhere in the Philippines and around the world. As such, together with 24h Technologies Manila, CLTV will have the capability to stream their programs online through the CLTV website. The 24h video streaming platform will enable CLTV's target audience to access both live shows and video-on demand (VOD) programs. The platform also provides new revenue streams for both companies through the imbedded advertising placements.
- I am very excited with this partnership. Together with CLTV, we will be at the forefront of expanding the reach and capabilities of broadcasting regional programs everywhere, says Dino Velasco, Managing Director of 24h Technologies Manila, Inc.
- Our strength is our technology and platform. With this partnership, we are enabling our partners, such as CLTV, to achieve and implement their online aspirations, says Jonas Litborn, President and CEO of the 24h Group.
This deal opens more and more opportunities for 24h as it further strengthens its credentials as a premier service provider in the country and the Asian region.
For more information contact:Dino VelascoManaging Director, Philippines and Vice President, Asia Pacificdino.velasco@24htech.com+63 917 530 60 82
Jonas LitbornPresident and CEOjonas.litborn@24htech.com+46 70 640 07 40
About 24h Technologies AB (publ)24h Technologies AB (publ) is a Swedish media distribution provider with offices in Stockholm, Manila, Jakarta and Toronto. Through video-on-demand, peer-to-peer, live streaming and mobile applications, 24h distributes foreign and local content globally. With the company's super-node technology, 24h has the capability to distribute video in environments with low bandwidth.
24h Technologies AB (publ) is a public company traded at Aktietorget (www.aktietorget.se )
24h Technologies AB (publ)Karlavägen 60, 5tr111 49 STOCKHOLMSWEDEN
