January 25, 2000 11:37am
Private Media Group Wins Internet Award in Las Vegas
Source: PRNewswire
by: Company Press Release
(LAS VEGAS, NV and BARCELONA, Spain) -- Private Media Group Inc. (Nasdaq: PRVT - news), a leader in high-class adult entertainment products and services since 1965 and the first such company trading on the Nasdaq National Market, today announced that one of its most recent internet services, Privatechannels/Videosecrets won the prestigious award for best adult video web-site at the IA2000 trade show run by AVN magazine, the largest media publication for the adult industry.
The annual Adult Internet Awards have proved a highly popular addition to the traditional AVN award ceremony, which this year was held at the Venetian Hotel in Las Vegas. Privatechannels.com which contains the world's most elite adult video productions and is marketed for the company by Videosecrets Media Inc., was this year awarded the coveted prize for best on line video site. Websites pay $500.00 per month for access to the channels and these are utilized by millions of users each month. There is a potential of approximately 30.000 adult paysites that could use the video-streaming channels. Buy rates for the channels have surpassed expectation in the six months since this service was launched and as adult in-house entertainment continues to grow in popularity Privatechannels.com is ideally placed to benefit from an expanding market. The company makes a net profit of 50% per sold product.
Gregory L. Clayman, President of VS Media Inc said: "Although our alliance with the Private Media Group only commenced in July 1999 it has already proven to be an
award winner. The joint-venture development of the Privatechannels was a factor strongly considered when Videosecrets was voted best adult video web-site of the year." Berth Milton, CEO of Private Media Group Inc. added, "This award is recognition of the Company's achievement in reaching its stated goal of world leader in high-class Internet related adult entertainment. I have no doubt that all profitable webmasters will now realize that subscription to Privatechannels.com is no longer an option but a necessity."
Private Media Group Inc. commenced operations in 1965. Its primary business activities today include the acquisition, refinement and delivery of adult feature products and services, including a range of proprietary websites, DVDs, unrated and adult feature magazines, videos, and CD-Roms: the distribution and licensing of its proprietary products and services on the internet, including magazines, videos, interactive services, adult novelty products and the Private Circle fashion line; and TV Home Shopping for Private's proprietary and licensed products.
For more information, visit the Company's corporate web site at www.prvt.com
This release contains, in addition to historical information, forward- looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company's current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
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