Nigeria’s Publicvine has secured investment worth over $5m in a bid to commence its global launch set for June 2014.
The Nigerian owned platform is a close competitor of YouTube but offers content owners and distributors’ opportunity to be paid by viewers. Publicvine secured between$5-410m investment in the United States and is now pioneering a new innovation in online video distribution.
“What PublicVine is doing is to present film makers, video vendors and consumers a marketplace for them to transact business. It is an online social video marketplace that enables video vendors and their consumers to connect, transact and get paid,” said CEO, Nam Mokwunye.
The firm has already started video vendor registration starting from Nigeria due to the huge potential that was existent in the marketplace, this will give vendors an opportunity to own online distribution channels on PublicVine to create greater efficiency and also increase value for local video and film industry.
The video platform is in talks with several telecommunication companies about a marketing partnership that would make PublicVine available to their subscription base within South Africa and into the rest of Africa.
Beginning with South Africa and Nigeria will make it possible for video vendors in sub-saharan to open their own online video stores to rent and sell their music videos, documentaries and films to consumers globally.