April 24, 2003 01:48pm
Private and Moviesystem Sign Deal
Source: Private Media Group Inc.
by: Company Press Release
(PARIS, FRANCE / BARCELONA, SPAIN) -- Private Media Group Inc. (Nasdaq: PRVT) a worldwide leader in premium-quality adult entertainment products, services and Internet content, today announced an agreement to provide access to its content library to subscribers of Moviesystem's NetCine video-on-demand service.
From May of this year, subscribers to broadband service providers in France will be able to view Private's substantial catalogue of films on-demand. Payment will be made through the subscribers' broadband provider, eliminating the need for credit cards and the disclosure of other personal information. In addition, the service will be subject to parental lock to avoid access by minors.
Maxime Japy, CEO of Moviesystem, said: "We are very pleased to have the possibility to release the Private library in video-on-demand format. It is an exciting opportunity for us to work with the leading brand in the adult industry."
Charles Prast, President and CEO of Private Media Group, said: "We are delighted to have been chosen by Moviesystem as one of their two exclusive adult content providers. We believe that Private's quality productions, the superior technical quality of Net Cine's offering and their direct consumer billing relationships are a winning formula. Private's position as a leading brand in the adult industry combined with our growing catalogue, experience in digital delivery and 38 year track record make us uniquely suited to enter into such exciting ventures."
By the end of 2002, it was estimated that 1.5 million households in France subscribed to broadband Internet Access. According to a recent study conducted by IDATE, this figure is expected to rise to 4 million households by 2005.
About Moviesystem SA
Moviesystem is the leading European video on demand distribution company. Over 70 production companies have granted Moviesystem VOD rights for their content, allowing Moviesystem to renew its catalogue regularly. The company has become a household name in the movie industry, to whom producers grant exclusive VOD rights in the knowledge that their content will be managed in complete compliance with industry standards. Moviesystem has also signed a number of deals to enhance its program offerings beyond just films, to include documentaries, sports, and interactive services, and to offer a multi-themed entertainment package in the coming months.
About Private Media Group
Private Media Group is a leading global adult entertainment company that distributes its content over a wide range of media platforms, including narrow and broadband Internet, DVD and video, magazines, broadcasting and wireless technologies. Private owns the worldwide rights to the largest archive of high quality adult content in the world, which it distributes physically in over 35 countries and digitally worldwide.
For more information on the company, please visit: 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.
For further information about Private Media Group, please contact:
Alejandra Moore Mayorga
Phone: + 34 93 590 70 70
+34 91 531 23 88
+34 670 799 335