Virtuebroadcasting Partners for European Streaming Network
Virtuebroadcasting (www.virtuebroadcasting.com) announced a partnership with European telco Interoute, to build a streaming media network in Europe. With the deal, Interoute will invest 12 million euros in virtuebroadcasting, which will provide streaming services across the network.
Paul Hodgins, CEO of virtuebroadcasting said, "Today's announcement is a huge step forward in the development of valid and sustainable revenue models for video distribution over the Internet, which will drive the demand for broadband. The combination of virtuebroadcasting's pool of major content suppliers with Interoute's next generation delivery network should be very welcome news to every European broadband access provider."
According to Ohad Finkelstein, chairman and CEO of Interoute, this investment signifies their commitment to "Internet broadcasting." "Outside of the US, the market for streaming video is wide open," he said. "With our state-of-the-art network and virtuebroadcasting's leadership in hosting and distribution, we are well positioned to exploit this opportunity. Interoute's strategy is to build a network platform that can deliver the next generation of bandwidth-hungry applications. Internet broadcasting and streamed content distribution is a key part of this strategy."
virtuebroadcasting is a London-based streaming company. It recently announced a strategic investment by EMI, which will make the company the chosen Internet webcaster for EMI's UK based labels.
Hodgins said that the investment by Interoute will be used for virtuebroadcasting's expansion within Europe.