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Joost denies retrenchment

MIP NEWS: Start-up internet TV company Joost has played down a report claiming it is preparing for a "major retrenchment" and scaling back its international ambitions to focus on the US.

Joost, which raised US$45m from CBS, Index Ventures, Sequoia Capital, Li Ka Shing Foundation and Viacom, has cut back on staff but the company said the suggestion it was retreating to the US was unfounded.

A report in UK newspaper The Sunday Times yesterday made the claim, blaming the move on Joost's inability to attract enough users and secure rights to top-tier entertainment.

A Joost spokeswoman told C21 today the report was "false and baseless" and the company would make announcements in a couple of weeks that would "more than refute that."

She admitted the firm had reduced its headcount – "we have trimmed staff to realign, being as we are a start-up" – but added that the US, Western Europe, China and other territories remained a focus.

Joost has recently signed content partnerships in Scandinavia through its partner in the region, formats developer Silverback, and launched in China two weeks ago.

While Joost CEO Mike Volpi is not in Cannes this week, having delivered a keynote at Mipcom last year, Silverback is and so are three members of the internet TV firm's European team, including exec VP of content strategy and acquisition Yvette Alberdingkthijm.

Having launched with a software-based download approach, Joost is revising its strategy and plans to launch a web-based version some time this year. This model has proved more effective for the BBC's iPlayer and recently launched NBC Universal-News Corp joint venture Hulu.

For more on Joost's changing strategy and the impact of Hulu, including interviews with respective CEOs Mike Volpi and Jason Kilar, see the April edition of C21's FutureMedia magazine. Request a copy here or pick one up at MipTV.

Jonathan Webdale
7 Apr 2008
© C21 Media 2008

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