August 02, 2000 06:05am
PRVT: Private Media Group Announces Increase of Content Released on DVD
Source: Private Media Group, Inc.
by: Company Press Release
(BARCELONA, Spain) -- Private Media Group, Inc. (Nasdaq: PRVT - news) worldwide leader in premium-quality adult entertainment products, services and Internet content, announces a significant increase of content released on DVD (Digital Versatile Disc) from 4 to 10 releases a month available in both NTSC and PAL format.
Following the continuing worldwide DVD success, Private Media Group has increased the number of DVD releases to 10 per month in order to expand its market presence and take advantage of the format's incredible growing sales curve. Private Media Group is making available the best titles of its back catalogue together with new top quality content on DVD, creating the best DVD library in the adult market.
In addition to the increase in content released on DVD, all titles will be available in both NTSC and PAL format. Besides providing easy accessibility to Private's DVDs worldwide, it will enable the company to be in the best position to target the huge market that is expected to open after the US and European upcoming release of Sony's DVD-capable Playstation 2 game console. In Japan, during the first 3 days of sales, 1 million units of the new game console were sold illustrating the expected success of the new entertainment box.
With sales of DVD players growing substantially in the first half of this year, the DVD Entertainment Group estimates that 7.5 million homes in the U.S. have DVD players and 5 million or so will adopt the format later this year. According to figures compiled by Ernst & Young, nearly 30 million DVD movies and music videos were shipped in the first three months of 2000. This figure represents a 200 percent increase over the number of titles shipped in the same quarter last year. The DVD player is recognized as the most successful consumer electronics product launch ever.
The leading publicly-quoted adult entertainment company in the world, Private Media Group Inc., is the founder of the globally established brand name ``Private'' and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Maintaining a total adult lifestyle philosophy, this is reflected in the Company's broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
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 27 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 judgements 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.
For further information, please contact: In Barcelona, Spain: Johan Gillborg of Private Media Group Inc., +34-93-590-7070, johan@milcap.es; or In London, England: Adam Reynolds of Hansard Communications.Com, +44-207-840-7782, adam.hansard@clsholdings.com.
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