South Asian Video Portal TinselVision Gets $3 Million Funding
By Nikhil Pahwa - Mon 25 Jun 2007 08:29 AM PST
TinselVision a video-on-demand service targeting South Asian communities in the US, UK and Canada, has secured $3 million in first round of funding. The funding was led by Innovative Entertainment, a Geneva based subsidiary of Innovate Energy Group. The company is seeking to address what it believes is an underserved , addressable market of over $1 billion plus. Tinselvision has also signed a three-year deal with a major Indian television network.
There is, of course, South Asian content already online - Saavn, Jump TV, Rajshri, among others, already stream Indian content online, and MTV is going to relaunch MTV Desi...some Indian channels tend to compare short-term returns from Internet with TV, and are not yet willing to put their entire content online. Some are held back by pre-existing distribution arrangements with cable networks overseas.
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