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SOURCE IC Punch Media, Inc.
LOS ANGELES, Sept. 10, 2013 /PRNewswire/ -- IC Punch Media, Inc. (OTCQB: PNCH) will begin broadcasting VU Television, the first 24/7 video network launched by IC Punch Media, Inc. on September 23, 2013. The network will offer original series as well as shows from its production partners.
The new VU Television Network will stream original shows as well as shows from several production partners. The network will be available free of charge on FilmOn.com, icplaces.com and via the FilmOn mobile app on all iPhone and Android devices as well as several set top devices. VU Television will be one of the first 24/7 networks launched exclusively, and in partnership with FilmOn through the FilmOn platform, and is focused on tapping into this highly profitable 18-34 viewer market which is harder to reach through traditional TV.
VU Television joins a prestigious list of major networks available through FilmOn. These include NBC, CBS, Fox and ABC, as well as a wide range of premium US brands such as TMZ Live, Sesame Street, Nickelodeon, ESPN, MSNBC and Wall Street Journal. FilmOn also offers celebrity driven channels including Anderson Cooper and Chelsea Handler. A wide selection of Latin and International content is also freely available.
Under the partnership FilmOn on will offer VU Television full access to its cutting edge broadcast platform and wide bandwidth pipeline. VU Television will use the platform to program and broadcast its network 24/7 in a day parted format. FilmOn will cover the broadcasting cost, IC Punch Media will handle all aspects of running the network and the two companies will share the advertising revenues.
Recent data shows that on a year-over-year basis, traditional TV viewing by 18-24-year-olds has now dropped for at least 5 consecutive quarters as they are driven to online viewership. Given the rise of mobile device usage, social media and other digital trends, youth have been gravitating to other platforms for entertainment and away from tradition television.
"There exists a huge cost barrier to broadcasting today via cable, satellite and terrestrial antenna systems. Consider the fact that the most profitable current and future demographic group watches the majority of their programing on laptops and other mobile devices and it is clear that the future of programing will start with a base online presence," said Steven Samblis, CEO of IC Punch Media. "The writing has been on the wall as traditional media companies have been purchasing or invested in online video makers and platforms. We feel launching with our partners at FilmOn will give us the greatest chance to achieve profitability in a much quicker time frame then going the current traditional media route. We also feel this digital footprint is a trend, which could eventually lead to opportunities for viewers to completely cut cable companies out of the equation," said Samblis.
Cable and satellite companies find their margins attacked on one side by rising programming costs and on the other by more consumers dropping video subscriptions in favor of cheaper online options. An entirely new generation of consumers is being raised on services like Netflix and companies angling to deliver TV over the Internet are starting to get a great deal of traction. This is evidenced by recent news of Google's talks with the National Football League and Sony's preliminary deal with Viacom to carry its channels.
Investment in digital broadcast by mega media players has become the norm recently. Bertelsmann SE & Co led a $6.5 million round of investment in online video network StyleHaul in March of this year. Time Warner Inc. led a $36 million investment round in YouTube network Maker Studios in December 2012. DreamWorks Animation paid $33 million for YouTube teen network Awesomeness TV in May of this year.
"We are very excited about VU being one of the early adopters of the FilmOn Partner platform," said FilmOn CEO Alki David, "Our system allows VU to create Live TV sites and apps branded to their specs! Bundled with our advertiser deals and vast choice of content, we feel good about VU's future in the online IPTV universe."
About IC Punch Media, Inc.
IC Punch Media, Inc. is a trans media entertainment complex that produces entertainment content for distribution across multiple mediums. The company trades on the OTCQB: Symbol PNCH. (http://www.icplaces.com)
Through multiple long-term partnerships, clips and full episodes of the company's shows are available to people outside the traditional set top box. This exposure serves as both a profit center and marketing component promoting the TV Network, its line up and the company's new media specific programming across multiple platforms.
FilmOn is the world's first and largest IP-delivered digital television platform with true TV Everywhere capability. Available globally via computers, smartphones, tablets and IP-enabled set-top boxes and devices, FilmOn offers more than 600 free and subscription linear TV channels and audio/video podcasts updated daily, plus 50 audio channels and over 45,000 on demand titles. FilmOn Apps for iPhone, iPad, Facebook, Lenovo, Win 8 and Droid devices offer you premium TV on the go. With offices in Beverly Hills and London and data-center headends in L.A., London and Geneva, FilmOn curates the best of televised entertainment from around the globe and creates original live programming every week. FilmOn also programs the broadcast TV station KILM - ch. 64 in Los Angeles and Dish Ch. 3 with broadcast syndication in multiple markets featuring the innovative BattleCam.com social television platform. More information on FilmOn can be found at www.filmon.com.
IC Places Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
IC Punch Media Inc.
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