Local start-up aims for Nasdaq listing next year

Tech April 22, 2014 00:00

By Asina Pornwasin
The Nation

6,999 Viewed

Video-on-demand service provider Ploenjit Media set up with Bt100 million capital

New start-up Ploenjit Media aggressively aims to be listed on the Nasdaq by early next year and expand globally. 
Ploenjit Media, set up for 14 months ago with Bt100 million registered capital, researches and develops the subscription video-on-demand service Hollywood Movie HD, launched last month.
Managing director and co-founder Kasidit Kolasastraseni said the service allowed customers to watch unlimited Hollywood movies.
Ploenjit Media’s subsidiary Fly Digital Media is also involved in the service, with the aim to reach a million subscribers by the end of this year and list on the Nasdaq early next year. 
The company currently has about 40,000 monthly subscribers and has invested over Bt200 million on technologies and content.
“It is a platform to allow users to stream videos at a similar high-definition quality,” Kasidit said. 
“It can be scaled up to 10 millions. Now it can support one million users concurrently streaming in three minutes.”
The company’s 100-per-cent subsidiary Fly Digital Media provides Hollywood movies from six major studios – Warner Brothers, Walt Disney Studios, Paramount Pictures, Universal Pictures, Sony Pictures, and Twentieth Century Fox. 
Currently, there are over 400 titles. It aims to have over 1,000 by the end of this year. 
“We have provided the service since early March. Now we have had more than 120,000 downloads – over 100,000 downloads on iOS and 20,000 downloads on Androids,” Kasidit said.
The service allows movie lovers to enjoy their favourite titles anywhere anytime via a mobile device or PC. 
Ploenjit Media’s offers three types of packages – a   monthly package, a six-month package, and a 12-month package at Bt149, Bt890, and Bt1,780 respectively. 
Kasidit said he was very confident in his business’s uniqueness, with providing good-quality content from major Hollywood studios that generate between 80-90 per cent of the total Hollywood revenue.
He said it also provided an excellent user experience and the application could be run with the same quality on different size of screens.  
Hollywood HD Movie uses a technique called adaptive bitrate streaming, a method where the client can adjust the quality to get the best level depending on network conditions. 
It also uses a pixel-rate technique to help adjust a movie’s file quality along with the adaptive bitrate streaming. 
“We use a six bitrate and pixel rate that help adjust the quality of the movie file according to the stability of the internet connection that make users cannot recognise, even the movie’s file quality is drops when the internet speed drops,” said Kasidit.
Normally, one movie has between 5,000 and 6,000 files ranging from to 60 gigabytes. 
Kasidit said his service compressed it to around one gigabyte per title. 
“Our service is on the cloud platform. Our challenge is to provide the best quality streaming using the least bandwidth,” he said. 
“Our system will recognise the kind of device the user is streaming with and will automatically use the adaptive bitrate technique. 
“We allow subscribers to download up to three devices and allow them to switch devices once a month.”
He said Thailand was the most important market because it was his home country.
His aim is to expand the service to other countries in Southeast Asia.
He said Thailand was an interesting market because it had a high penetration rate of smartphones and social media, while it had the least pay-TV penetration. 
By June, the company plans to launch a new service that allows users to buy a single title. 
It plans to blend the new service with the existing packages. 
Ploenjit Media’s offers users a wide range of payment methods – credit, debit, ATM, a counter service, internet banking, and mobile banking. “It is our passion to make an innovative business and to go global,” Kasidit said.