PTEL - Petel Incorporated C.O.O. targets $6 Million Income from Video on Demand in First Year
Wednesday May 16, 9:00 am ET
(Pink sheets: PTEL.pk)
LONDON, UK, May 16 /PRNewswire-FirstCall/ -
Petel Incorporated Chief Operating Officer Phillip Evans today signified the impact he expects Video on Demand (V.O.D), delivered as part of his new brand SexQube.TV, to have on Petel Incorporated revenues in the first year following launch.
Ex-Penthouse UK Director Evans is targeting 700,000 downloads in the first 12 months of operation registrations to date indicate the Company is well on the way to exceeding its target. With each download costing $9.99, and delivering a net profit of $8.50, the Company is forecasting over $6 million in income from V.O.D. sales alone. This is in addition to revenue streams from a "couples friendly" online adult store, premium rate telephony, dating and chat services, advertising and third party sales.
Evans underlined how important V.O.D. is to the Company. "SexQube.TV is the world's first free-to-air adult broadband channel, and we are proud to have accomplished that. But the real strength of the channel is in the delivery, on demand of high quality video via our unique "pink button" technology. If you see a movie advertised whilst watching the channel, all you have to do is click the pink button, pay the 48 hour rental fee of $9.99 and you can enjoy the content instantly. Alternatively you can browse by sector through the catalogue on the left hand side of the page. We have recently announced high profile partnerships with Scala and Combat Zone, who will be supplying content, along with our own division Brit P(x)rn Productions. We hope to announce more partners in the very near future, putting us well on our way to delivering the world's largest VOD library for SexQube.TV viewers."
To view the Corporate Overview please visit the Investor Relations page at www.petel.co.uk
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
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Source: Petel Incorporated
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