SOURCE: KIT digital, Inc.
LONDON and ULAN BATOR, MONGOLIA--(Marketwire - Oct 17, 2012) - KIT digital, Inc., (NASDAQ: KITD), a leading video management software and services company, working in partnership with the Trade & Development Bank (TDB) of Mongolia, today announced that leading business broadcaster Bloomberg Television has launched Bloomberg TV Mongolia, the first international news operation based in one of the fastest-growing investment environments in Asia. The HD channel went on air on the 8th of October 2012, using a tightly integrated production and playout platform designed and built by KIT digital.
The production team, including more than 30 local journalists trained by Bloomberg, will create five hours of content each week reflecting the business world in Mongolia and the Asia-Pacific region. The rest of the channel output, which can be seen on cable television as well as on the national digital terrestrial platform, will be derived from Bloomberg's international content. This includes the pan-Asia Bloomberg feed as well as content from London, with BTV Mongolia adding its own graphics and tickers as well as realtime translation from other languages. BTV Mongolia will also provide information on the Mongolian market to other Bloomberg services, providing a unique insight.
"We are honoured to be a part of this exciting launch, and to be able to offer our experience and expertise in broadcast journalism to an important region," said Parry Ravindranathan, Head of Bloomberg Television for Asia-Pacific. "Our partnership with The Trade & Development Bank of Mongolia is part of our momentum in establishing strategic long-term partnerships in Asia which we believe will enhance market transparency in local markets."
The system in Ulan Bator combines studio production with fast turnaround editing and graphics to package content for different services. Automated graphics technology from Vizrt is an important element in localising the international content.
Bloomberg is a pioneering user of the FIMS (framework for interoperable media systems) standard to speed systems integration in file-based workflows, and it is an important part of the interface between the local system and the international content repository in London. Work on the project began in April 2012, with a tight timescale of just six months to create the whole system and complete training and rehearsals for the launch.
"This was a project where our integration skills were brought to bear on a typical modern challenge: the need to create a highly productive, highly flexible environment which could be operated intuitively by journalists and technicians in a new venture," said Nicole Dixon, Managing Director of KIT digital Asia-Pacific. "In a rapidly changing media world, agility is critical if opportunities are to be seized as they are presented. The Trade & Development Bank of Mongolia had the rare opportunity to work with Bloomberg on a dedicated channel, and wanted it on air as quickly as possible to stake its claim in the local broadcast environment as it is refined. We were delighted to make that project happen."
About KIT digital, Inc.
KIT digital (NASDAQ: KITD) is a leading video management software and services company. Cosmos and Cloud, the company's video asset management systems, enable leading broadband media companies to produce, manage and deliver multiscreen socially-enabled video experiences to audiences wherever they are. KIT digital services nearly 2,500 clients in 50+ countries including some of the world's biggest brands, such as Airbus, The Associated Press, AT&T, BBC, BSkyB, Disney-ABC, Google, HP, Mediaset, MTV, News Corp, RCS Media Group, Sky Deutschland, Sky Italia, Telecom Argentina, Telecom Italia, Telefonica O2, Universal Studios, Verizon, Vodafone, VRT and Volkswagen. KIT digital maintains headquarters in New York City and offices in more than a dozen countries around the world. Visit the company at www.kitd.com or follow on Twitter at www.twitter.com/KITdigital
About Bloomberg Television
Bloomberg Television, an award-winning, multi-platform 24-hour business and financial news network, provides continuous coverage of the people, companies and ideas that move global markets. Broadcasting from centers in New York, London, Singapore and Hong Kong and powered with an unparalleled news gathering team of 2,300 news professionals in 146 bureaus across 72 countries worldwide, Bloomberg Television delivers real-time business news to over 310 million households globally. In addition to major cable and satellite providers, Bloomberg.com and Bloomberg Mobile, the network is available on the Bloomberg Professional service, used by the most influential individuals, corporations, financial institutions, investors and the world's central banks, commercial banks, government agencies, legal professionals and news organizations. With Asia being one of the most active growth regions in the world, Bloomberg Television is delivering more local content, and fast, accurate, unbiased, market-moving news from market makers in Asia. For more information on Bloomberg Television, please visit www.bloomberg.com/tv and follow us on Twitter (@BloombergTV) and Facebook.
About Trade & Development Bank of Mongolia
Trade & Development Bank of Mongolia TDB, with its leading position in universal banking, offers a full range of services, including large corporate, SME and retail lending and acts as a primary lender to most of the country's leading corporations. The Bank has consolidated its market-leading position in the handling of international trade finance and remittance, with access to credit lines from major international lenders and correspondent banking relationships with over 150 international financial institutions. TDB offers over 100 types of international standard banking products and has about 1000 highly qualified staff providing personal attention and user friendly banking services through a network of 43 branches and settlement centers. TDB is undoubtedly the major player in the financial and banking markets as well as a major innovator of the Mongolian financial sector. In 2004, TDB was the first bank in the country to receive the investment from the Asian Development Bank (ADB) and International Finance Corporation (IFC). In 2006 TDB became the first commercial bank in Mongolia rated by Moody's Investors Service. The Bank continuously increases its income figures and asset size.