PlayTime Entertainment and Summit Media have formed a joint venture, PT Summit, to develop technology platforms for media companies, the companies announced. The venture is 60%-owned by PlayTime Entertainment and 40%-owned by Summit Media, according to a report by BusinessWorld.
The partnership aims to address the needs of publishers for improved digital products, audience analytics, and content monetization tools. As media organizations increasingly rely on data-driven engagement and diversified revenue streams, technology platforms that support these functions have become a priority for the industry.
The joint venture brings together PlayTime’s experience in entertainment technology and Summit Media’s background in publishing and digital content. The companies said PT Summit will focus on creating solutions for media and content creators, though specific product launches were not yet disclosed.