Wecast Network, a B2B service provider, said it has entered into a joint venture with Berlin’s Pantaflix, a cloud-based video on demand platform.
The joint venture will be owned by Pantaflix (50%), WCST (40%), and Redrock Capital Group Limited (10%).
It will be headquartered in Germany and with locations in both China and the US. It will offer a business-to-business video on demand service globally, the companies said. Within 36 months of launch, the platform is aiming to have 300,000 movie titles available.