File: WUAKI TV
It was founded in 2007 and started operations in July last year.
It offers commercial cinema, mainly from Hollywood.
Catalog with almost 1,000 films.
Releases stay in the catalog for three months.
There is no flat rate.
Rental is charged per film ($2.99 to $3.99 for new releases).
The founders of the Barcelona-based company Wuaki have designed and developed the portal with great care down to the smallest detail. The choice of partners was not left to chance either: experts from key areas were to be brought together for the future of the portal.
“In Wuaki, we met technology experts from Oracle or IBM, from film companies like Sony Pictures or Filmax, or myself, who worked in venture capital at Nauta Capital,” explains Jacinto Roca.
Founded in 2007, it took three years of work and €5 million in investment (from partners and two venture capital funds) to get Wuaki up and running. The creation of the technological platform, the agreements with the Hollywood majors and with the TV manufacturers have taken the most time.
Negotiations with the studios have come at a cost of their own, but the results are encouraging. According to Roca, “We currently have the rights to more than 1,000 films and series, some of the best.” What satisfies this executive the most is that he’s managed to win “premiers from Warner, Paramount, Disney, and Sony, among others.” In fact, one of Wuaki’s strengths, he assures, is that “we’re going to focus on premieres, what the audience wants; the premiere and the very commercial classics”. This approach explains why Wuaki TV has chosen not to offer a flat rate, which has been criticized as contrary to Netflix’s model, which it says must be strictly adhered to. “Flat rates are okay if you offer old films. If you want to do premieres, you have to pay for each one,” says Roca. He concedes that the catalog on offer is a bit tight at just over 1,000 titles, but it’s enough to get you started. “Except that we’re going to build it up bit by bit and by 2012 we’ll have about 2,000,” he adds.