The MOU aims to support acquisitions, capture global investment opportunities, and promote the development of the pan-entertainment sector, including short dramas production and distribution network worldwide.
Abu Dhabi-based 9Yards Cinema Production, a subsidiary of 9Yards Communications, has signed a memorandum of understanding (MOU) with Mega Matrix, to jointly establish an investment fund focused on developing the global short drama and pan-entertainment sector.
The MOU provides for a joint-venture to establish a $100m investment fund that aims to support acquisitions, capture global investment opportunities, and promote the development of the pan-entertainment sector, including short dramas production and distribution network worldwide.
The proposed joint venture will establish a wholly owned company to serve as the general partner to manage the investment fund, overseeing the execution and production of the fund’s investments, and ensuring the successful implementation and progress of the partnership.
Commenting on the collaboration, Yucheng Hu, CEO of Mega Matrix Inc., said: “The signing of this memorandum of understanding with 9Yards Cinema Productions is a significant milestone in our mission to expand globally and tap into the immense potential and talent in new global markets. Together, we aim to fuel the growth of the short drama and pan-entertainment sector, creating impactful content that resonates with audiences worldwide.”
Hussam Almulhem,Group CEO of 9Yards, added: “This partnership with Mega Matrix Inc. represents a bold and transformative step for the MENA region’s entertainment industry, and is in line with the wider economic diversification efforts of the Emirate of Abu Dhabi. By combining our local expertise and creative excellence with Mega Matrix’s innovative vision, this $100m investment fund will pave the way for a new era of cinematic storytelling and pan-entertainment, both in the region and globally.”
