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August 3, 2016

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VR innovation paves tech cooperation

CHINESE technological firms want to export content and services to overseas audiences by cooperating with overseas counterparts and adopting innovation in virtual reality and mobile distribution, Shanghai Daily learned yesterday.

Shanghai-based VS Media said yesterday that it has accepted investment from Discovery Communications. Both sides declined to reveal the investment amount of the deal which would see them develop and broadcast Chinese content globally.

Meanwhile, VS Media also announced that a 26 million-yuan (US$3.9 million) fund would be set up to support online video content producers, covering e-sports, tourism, music and fashion.

“The video and latest technologies like VR help Chinese producers cross the gap of culture and language and create content for global audiences,” said Ivy Wong, founder of VS Media.

Nasdaq-listed Cheetah Mobile has expanded into overseas markets providing users with mobile news, online broadcasting and mobile games, after acquiring news application News Republic for US$57 million. The app has content sourced from 1,650 news agencies and also offers readers customized content.


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