The Maaduu an online video-on-demand ad-funded service provides Korean content is expected to generate significant additional revenue through cross-selling of the Yoonic product to Maaduu users. Maaduu has approximately 850,000 registered users as well as over 3.3 million Facebook Fans to add to SyQic's current subscriber base of over one million. SyQic also expects Maaduu to address different target demographic groups via its differentiated product offerings.
Furthermore the activation of a mobile payment service for Yoonic will complement current scratch-card payment method providing a simple process by which customers can pay for content directly via their mobile phones. The new payment service is expected to help facilitate the proliferation of the Yoonic TV service into new markets globally. The mobile phone payment service has been developed in partnership with international mobile payment provider Fortumo.
"We are extremely pleased to be partnering with Fortumo in providing a mobile phone payment facility to our OTT customers," commented SyQic CEO Jamal Hassim. "The facility will greatly simplify the process by which Yoonic customers can buy our content and we are confident this will lead to an increase both in OTT customer numbers and in customer retention. Fortumo's wide geographic reach will also better enable us to roll-out our services into new geographies, in line with our strategic plans."