DivXNetworks, Wellspring team for VOD
Video compression technology provider DivXNetworks Inc. is moving full speed ahead with plans to deploy its DivX suite of video compression technology. The latest: the company has inked a licensing deal with Wellspring Media Inc.
As part of the deal, Wellspring will license the DivX Open Video System to rent downloads of eight full-length films to users of its Web site, www.videocollection.com.
The on-demand service will enable consumers with a high-speed connection to purchase a rental of a selected film and begin viewing it in full-screen format almost immediately, according to DivX.
Among the first movies Wellspring will offer are Cartoon Crazy: Banned and Censored; Deep Blues; Can't You Hear The Wind How?; Max Fleischer's Superman and Superman: The Lost Episodes; and Planetary Traveler.
Earlier this month, DivXNetworks Inc. secured $6 million in Series B funding. Zone Ventures led the investment round. The company said it would use the funds to accelerate the deployment of its DivX technology.
DivX recently released DivX5.0. The MPEG-4-based video software is geared to produce DVD-quality video over broadband connections, at file sizes 41 percent smaller than previous DivX versions, according to the company.