The Malaysian National Film Development Corporation (FINAS) has launched the first online cinema in Malaysia, Film Wallet Premium Video-On-Demand or Film Wallet PVOD to revolutionise and enhance the experience of watching movies in a comfortable and safe environment.
This move is expected to bring a positive impact to the ecosystem of the local film industry with the existence of new digital entertainment platforms.
FINAS Chief Executive Officer, Professor Dr Md Nasir Ibrahim said, the development of digital technology such as YouTube and Over the Top (OTT) channels will not affect the business for film production, but instead become an alternative platform to increase revenue, collection and promotional medium.
“I believe the launch of PVOD Film Wallet will have a positive impact on the film industry ecosystem as it is the latest entertainment platform.
“And the availability of digital platforms such as PVOD Film Wallet will give more space to filmmakers who are not categorised in the “mainstream” industry.
“I hope this platform will encourage the production of more creative, quality local films and various storytelling topics can be produced,” he said when met at the launch of the PVOD Film Wallet at the Tropicana Gardens Mall, on Thursday.
Film Wallet PVOD announced it would launch the platform to two countries in Southeast Asia in February next year as it wanted local film production to reach more audiences. Owned by a local company, the platform offers hundreds of popular contents from around the world including the United States, Hong Kong, China, South Korea, Europe and more.
He said, apart from being an innovative media services platform, Film Wallet PVOD was collaborating with local and international producers to broadcast exclusive international films and content.
Md Nasir said, it is a proud achievement because PVOD Wallet Film is 100 percent local product and has plans to expand the business and market to Southeast Asian countries in the near future.
“PVOD Film Wallet’s mission is to help local works be exported overseas. It is very much in line with FINAS ‘intention to promote, promote and screen local films globally.
“This initiative is very much welcomed by the Ministry of Communications and Multimedia and FINAS. I would also like to encourage more local film producers and distributors to work together in this new ecosystem.
“Opportunities like this can not only help increase the production of a film, but can help increase creativity in the production of a work,” he said.
Thus, Md Nasir hopes that PVOD Film Wallet will be able to expand the platform to the international level in a short time.
Meanwhile, the Founder and Chief Executive Officer of PVOD Film Wallet, Jack Yeoh, said the platform was not just a solution for consumers to get access to watch their favourite movies without worrying about subscription fees, but also an initiative to stimulate the Malaysian film industry.
“We are determined to contribute to the growth of the local film industry by disseminating content internationally through the launch of this platform to two Southeast Asian countries, soon,” he said.
With one click on a smartphone, tablet or television, viewers can access the PVOD Film Wallet from the comfort of home or anywhere.
The viewers do not have to commit to a monthly streaming subscription fee to watch high-definition content, but can afford to buy the desired movie for as low as RM1.90 that can be watched multiple times in a given period.
At the last press conference, PVOD Wallet Films announced its involvement in a local film titled Syaitan Nirrajim directed by Ayez Shaukat, Where You Are (Woo Ming Jin) and Isolation (Ryon Lee) which is expected to be screened, next year.
PVOD Film Wallet will also introduce a collaboration with international content, Celestial Tiger Entertainment from Hong Kong and users will have access to action and horror movies from around the world.