USA Video Interactive CEO Describes Future of Internet Movies at Kagan VOD Summit Conference in NYC
USA Video Interactive’s Pioneering Patent and Deployments Create Model for Next Driving Force of the Internet: Vide
New York City, October 24, 2000 -- USA Video Interactive (OTCBB: USVO; CDNX: US; www.usvo.com) President and Chief Executive Officer Edwin Molina was a panelist today discussing the future of movies on the Internet at THE KAGAN VOD SUMMIT: The $10 Billion Challenge, hosted by Paul Kagan Associates (www.kagan.com), the international high-tech media research firm. The Conference was chaired by Kagan Senior Vice President Larry Gerbrandt and held at the Park Lane Hotel in New York City. According to Kagan, the Conference was held for executive-level discussions of the different technologies and platforms that will transform the video industry from a store-based model to a digital-delivery business over the next decade, and will explore successful economic and marketing models.
"Video is the number one driving force of the Internet today," said Molina in response to the opening question about future of downloaded video. "We know this first-hand based on our experience: we applied for the original video-on-demand patent in 1990; it was granted in 1992. In 1994, we were first to market with a true video-on-demand system, but we soon realized we were too early. There simply wasn’t enough bandwidth to make the system viable so we focused on bringing our products and services to the next level so we’d be ready when the infrastructure caught up."
"Now, in the year 2000," continued Molina, "with bandwidth becoming more plentiful and its availability growing at an enormous pace, we can meet users’ demands to bring rich media and video solutions to the edge."
"Our deployments in education and corporate training have created a model for what the future will be for entertainment in the home," said Molina. "We understand this model and now can start delivering movies and other entertainment content directly to home users and that’s what they are demanding."
In response to a question about protecting content, Molina stated, "We know that people will use every possible method to receive information on the Internet and we as an industry of technology suppliers know that the growth of rich media via the Internet depends on protecting the intellectual property rights of content providers. USA Video Interactive is developing that solution today; we need to act responsibly in meeting this obligation."
According to the description of the conference, "It is finally prime time for video-on-demand. After decades of anticipation and years of market trials and limited deployments, the full-scale race is on to bring on-demand entertainment and information into American households." Kagan says the market could hit $10 billion in 2009 and has the potential to grow much larger when new technologies such as movie downloading, VDSL, personal video recorders and walled-garden platforms are added in.
Kagan states that consumer demand for downloaded movies is already proven noting that Americans will spend more than $8 billion this year to rent movies from video stores, and another $11 billion to purchase videos and DVDs for home use.
Executives from the world’s leading video-on-demand companies attended the Conference. In addition to USA Video Interactive, keynote speakers included the CEOs of HBO and ReplayTV, and panelists included executives from Concurrent, Direct TV, Diva, iNDemand, Microsoft, nCube, SeaChange International, TV Guide Interactive, Motorola, TVN, Starz, Showtime, and others.
About USA Video Interactive
USA Video Interactive is an international designer and supplier of high-tech Internet streaming video and video-on-demand systems, services and innovative end-to-end solutions. The USA Video Interactive patent for store-and-forward video, #5,130,792, was filed in 1990 and issued by the United States Patent and Trademark Office on July 14, 1992; it is considered a pioneer patent in the field of video-on-demand and Internet video. It has been cited by at least 133 other patents. In 1999, USA Video Interactive was awarded similar patents in England, France, Spain, Italy and Germany; the company has patents pending in Canada and Japan. The USA Video Interactive patented video technology gives users full-motion video; the flexibility of standard, VCR-like controls; and the convenience of a standard internet-browser format for access. It provides video images significantly faster and at a higher degree of resolution than with previously available methods; significantly overcomes bandwidth restrictions; and eliminates the blockiness and slowness of current technologies -- all at a lower cost and at or near broadcast quality. USA Video Interactive is nearing completion of a patented Wavelet compression technology that will further enhance the company’s ability to deliver Internet video to home modem users and reduce storage and download-time requirements for all users, including those with broadband connections. For more information, visit usvo.com
USA Video Interactive Corporate Headquarters Office: 70 Essex Street; Mystic, CT 06355; (800) 625-2200; (860) 572-1560. Canada Office: 837 West Hastings Street; Suite #507; Vancouver, B.C. V6C 3N6. Trading symbol on the OTCBB: USVO; Trading symbol on The Canadian Venture Exchange: US. Standard & Poors Listed. CUSIP 902924208; USA Video, USA Video Interactive, Video-On-Demand and Video Yellow Pages are trademarks of USA Video Interactive. The Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. For more information contact: Tony Castagno, Media Relations, 860-572-1560; Kevin Yorio, Investor Relations, 860-572-1560; info@usvo.com
This press release may contain forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties, which may cause actual results to differ from those described. |
