Cloud gaming co Playcast Media in Korean TV deal

Playcast Media has signed a deal with Korean cable operator CJ Hellovision Ltd. to provide cloud gaming service for video games.

Cloud gaming company Playcast Media Systems Ltd. has signed a deal with Korean cable operator CJ Hellovision Ltd. to provide cloud gaming service for video games. The service will allow the company's 3.5 million subscribers to play console-quality video games from the worlds major game publishers through their existing set-top boxes. The service's monthly fee is $10.

The new cloud gaming service by CJ Hellovision and Playcast brings console-quality gaming to many Korean homes for the first time. In the US, Europe and Japan, the multi-billion dollar market has been dominated by physical distribution of game DVDs to dedicated gaming hardware, such as Sonys Playstation and Microsofts Xbox. With few game consoles in Korea, gamers attend one of more than 20,000 internet cafes (PC bangs) to play games.

Playcast has content agreements with several gaming producers, including Activision Inc., Codemasters Inc., and THQ Inc., which provide games with fixed time limits. Playcast has agreements with Portugal Telecom SA (Euronext: PTC; NYSE: PT) and France's Bouygues Telecom

Playcast Media CEO Guy de Beer said, Korea is a gaming nation and one of the largest consumers of video games in the world, yet consoles are practically non-existent. Our service leaps beyond legacy consoles, and straight into cloud gaming. The best gaming content becomes available to millions of Koreans with in a click of the TV remote control.

Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2012

Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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