Wednesday October 13, 8:15 am Eastern Time
Company Press Release
SyCoNet.com Forms New Division to License and Distribute Anime Film and Video Game Soundtracks
MANASSAS, Va.--(BUSINESS WIRE)--Oct. 13, 1999--SyCoNet.com, Inc. (OTC BB:SYCD - news), the leading U.S. distributor of Anime (Japanese animated) videos and DVDs, today announced that it has formed a new division, Otaku Music USA, to license and distribute Anime films and video game soundtracks.
Currently, Anime soundtracks are a $500 million market in Japan. Imports to the United States are premium priced at over $30.00 per soundtrack and represent approximately $15-18 million in annual sales. SyCoNet.com has formed the division to respond to the tremendous demand of thousands of Anime fans and a Japanese community of 7 million people residing in the U.S.
Chief executive officer Sy Picon stated, ``A recent poll taken at a leading Anime convention this year revealed an overwhelming number of Anime fans (over 95%) would purchase Anime soundtracks if available in the U.S. The Okatu Music USA division was formed to capitalize on the incredible opportunity to deliver these soundtracks at a deep discount to imports and rapidly capture share at future Anime conventions.'
Otaku Music USA expects to acquire 500 to 700 soundtrack licenses, and secure its first agreement and begin production in the next 60 days. The Company's division plans to sell the soundtracks through several distribution channels including its two websites, other leading music and CD Internet sites, major music distributors across the United States, and several reputable music and video stores that carry imported soundtracks and have strong sales in Anime-related items such as videos. SYCD is currently building a division sales force for nationwide coverage.
``The companies we have spoken to about acquiring licenses are extremely eager and excited at the prospects of U.S. distribution. Licenses will be exclusive to SyCoNet.com and should help us achieve greater visibility among Japanese firms and encourage future alliances overseas,' added Sy Picon.
SyCoNet.com, Inc., formerly SyCo Distribution, Inc., distributes Anime Japanese animated movies, including the enormously popular Pokemon(r) video series, multimedia games and software, DVDs, CDs, toys, apparel, and related merchandise to over 1,000 wholesale and retail accounts nationwide through two high-traffic websites, a catalog, and direct sales campaigns.
For more information on purchasing the Internet's lowest priced Anime videos, see www.altvidwar.com.
Forward-looking statements in this release are made pursuant to the ``safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, new products and technological changes, the Company's dependence on third-party suppliers, intellectual property rights, and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Also see www.otcfn.com/sycd, www.altvidwar.com, and www.sycodistribution.com
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Contact:
SyCoNet.com
Sy Picon, 703-366-3900
admin@altvidwar.com
or
OTC Financial Network
Geoffrey Eiten, 877-663-0266/781-444-6100 ext. 13
geiten@otcfn.com
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