Agreement will create synergies for APAC’s booming OTT video market
Jungo TV, the LA-based leading international distribution network and Verizon Media, today announced an agreement for Verizon Media to provide Jungo TV with an end-to-end global advertising platform solution targeting India, with other APAC markets to follow. This is set to launch in Q4 2019.
The OTT video market is growing rapidly in APAC, with India and Southeast Asia largely contributing to this trend. According to PwC, APAC will overtake North America as the world’s biggest region in terms of OTT video revenue in 2021.
Jungo currently provides over 40,000 hours of brand-safe content and over 80 television channels to carriage partners. Through this deal, content partners will be able to participate in a huge uplift in overall advertising inventory volume, quality, and value.
“As a growing number of traditional broadcasters race into the OTT space, it’s become increasingly clear that ad supported streaming models are gaining traction worldwide,” said George Chung, co-founder and CEO of Jungo TV.
“Jungo TV’s ability to bring Ad-supported high quality video content to fans across the world is turbocharged by integration into the ad platforms offered by the iconic Verizon Media,” said Dr. Mehmet Oz, co-founder of Jungo TV.
“The potential of the OTT Ad market is growing as the popularity of OTT video services surges across India and SEA. This agreement will combine our strengths to tap the opportunity ahead. The scale, audience reach and brand safety that Verizon Media is known for will propel Jungo TV’s premium Ad-supported video content in the region,” says Rico Chan, Managing Director, Verizon Media Hong Kong, Japan, INSEA and ANZ.