Moving Picture Company India (MPC) has partnered with Movico Technologies to digitize, promote and sell archival footage through Movico's new video aggregation website.
MPC owns approximately 12,000 hours of video footage that include travel destinations, exotic locations, political events, profiles of Bollywood stars, celebrities, music performances and stock footage from India, Afghanistan and Bhutan. Movico will undertake the digitization, classification and repurposing of footage that will allow Moving Picture Company to easily access the video library for its own production use. It will also help the Company make select footage, available for worldwide sale, to other content producers.
Movico Technologies is a video software startup that integrates key video, mobile, PC and internet technologies to build next generation video software products to serve the needs of video producers and distributors.
Said Movico Technologies director and co-founder V N Saroja, "The deal has been divided into two segments. In the first segment, we will digitize and catalogue MPC footage, identify the best pieces and repurpose the same for sale. For providing this service, we will receive payment on cost per hour basis. The second phase includes marketing of the repurposed footage, which will be available on our website. The revenue generated will then be shared between us and MPC," she added.
Adding further, MPC chairman and MD Ramesh Sharma said, "We have always believed our library has great value waiting to be unlocked, and this partnership with Movico will allow us to tap both the Indian and the global market."
Also, Movico has tied up with several international stock footage websites for cross-promotions. Besides, it has tied-up with international producers for stock footage consumption and with content distribution platforms for global delivery.
Movico has plans to create a sophisticated, tightly integrated, multi-purpose video production, storage and broadcast management system capable of handling enterprise class loads. Hence, to materialize the same, the company is aiming to invest $1 million in the project. Additionally, the company also intends to raise $5 million this year to strengthen its portfolio of product, service, and aggregation, targeted at the video content market.