As per the agreement Vringo will add premium content from Hungama to its video ringtone content library and will share revenues with Hungama, generating from these contents. However the financial terms of the agreement were not disclosed yet. Hungama has the largest library in the world for Bollywood and South Asian entertainment content. By getting this huge collection Vringo can now look forward to number one spot in the global mobile ringtone market. Through Vringo-Hungama partnership, they can now looking ahead for around 500 million subscribers on 15 different Indian cellular operators including Reliance, BhartiAirtel and Tata. Now Hungama content can be available in UK, UAE & Malaysia via Vringo service zone.
Speaking on the deal, the CEO of Vringo, Jon Medved, said, “We have now rolled out our platform in India, the second largest mobile market in the world by number of subscribers. The service is live with 15 operators and features the most popular Bollywood titles and scenes provided by Hungama. We are confident that the Vringo-Hungama service is one that Indian consumers will find compelling.”
Founded in 1999, Hungama Digital Media travels long roads and becomes South Asia’s leading Internet & mobile entertainment company. By having worldwide exclusive rights to over half a million music and video contents in Bollywood & South Asian entertainment, Hungama has created biggest digital library in the world. It also powers almost 70% mobile digital entertainment content in India, and accessible in 33 countries, with more than 145 partners across the world. Hungama Mobile is the leader in the Mobile Entertainment and Value Added Services in India.
Vringo, leading platform for providing personalized video ringtones to mobiles. Vringo is popular among users for getting customized ringtones with video, images and slideshows. Consumers also can download ringtone software from Vringo website and also this ringtones can be transferred between users and also can be shared on social network sites like Facebook and Myspace. Vringo has already in partnership with major music companies and artists for the rights & exclusive license. Some of its partners are T-Pain, Universal Music, Muhammad Ali, Tiesto, Marvel Comics , Turner, Hungama Mobile, RTL and Ingrooves.
On the other hand Hungama is very happy and hopeful. Neeraj Roy, Hungama’s CEO said, “We are excited to provide together with Vringo an innovative video ringtone and mobile video service that leverages our powerful content. We believe the service will have mass appeal in India and for lovers of Bollywood content everywhere.”
