New Delhi: Leading television media and entertainment company Zee Entertainment Enterprises Limited, and Geodesic Limited, Mumbai-based developer of software products focused on content, communication and collaboration for mobile phones and computers, have partnered to create ITM Digital Pvt Limited.
The company will offer content-rich and interactive Internet TV on the mobile and desktop platforms. The application (scheduled to launch by mid-August) will stream over 20 live television channels and several on-demand video channels. “Consumers across all telecom networks will be able to download the application, discover, access and schedule content through data plans like GPRS and Wi-Fi on their desktops and mobile phones,” said Kiran Kulkarni, managing director of Geodesic Limited. “We will use a lot of content from Zee’s library,” he added.
Roughly Rs20 crore has been invested in the company and 60% of the investment has been made by ZEEL. “It’s time for us to explore the space and monetise on the existing content by tapping the mobile value added service segment,” said Atul Das, president, corporate strategy, planning & business development of Zee Entertainment Enterprise Limited. “We expect an explosion in the 3G space. Bandwidth problems will no longer be a serious issue,” he added.
A publicly traded company, Geodesic is listed on the Bombay Stock Exchange (BSE), the National Stock Exchange (NSE) and its Foreign Currency Convertible Bonds (FCCB) is on the Singapore Stock Exchange. With 12 offices spread globally, Geodesic, with a turnover of Rs664 crore (FY10 unaudited), in the past has acquired Chandamama India Ltd, a leading children’s print magazine for the purpose of digitizing and mobilizing its content to mobile users.