LOS ANGELES, CA -- (MARKET WIRE) -- 02/23/10 -- In response to feedback from major video retailers, Hannover House, the film and video distribution division of Target Development Group, Inc. (PINKSHEETS: TDGI) (Other: www.TargetDevelopmentGroup.com, www.HannoverHouse.com), has announced ten new release and catalog titles that will debut on the Blu-ray video format at only $14.95 suggested retail. This low-priced strategy marks a major shift in consumer pricing for new release movies on Blu-ray, which typically carry list pricing of $29.95 or more.
"Consumers have embraced the superior picture quality and features of the Blu-ray format," said Eric Parkinson , Hannover House C.E.O. "But movies have been prohibitively expensive. We believe that a $14.95 list price will enable some major chains to profitably sell our films for under $10 to consumers, which should spark a significant increase of sell-thru volume for Blu-ray. We're making these prices effective for new release titles, not just catalog, and hope that Hannover's success at this price point will become a new industry benchmark," he continued.
The initial new release titles covered under the $14.95 Blu-ray pricing strategy include:
"War Eagle, Arkansas " - An acclaimed family drama with an April 6 street date. "Sensored" - A chilling sci-fi thriller with an April 6 street date; "2 Dudes And A Dream" - A wacky comedy with a March 9 street date; "Chelsea On The Rocks" - An Abel Ferrara documentary with a May 4 street date; "Bobby Dogs" - An award winning, inspirational film with a May 4 street date.
The initial catalog titles also to be issued on Blu-ray at $14.95 include:
"Hounddog" - Dakota Fanning's controversial breakout role, now available on Blu-ray; "Savage Land" - A western-themed, family favorite to debut on Blu-ray June 1 ; "Outlaws: The Legend of O.B. Taggart " - A star filled western, coming June 1 ; "Future Shock" - A popular sci-fi thriller, to debut on Blu-ray June 1 ; "Samurai: The Last Warrior" - A martial arts documentary, coming June 1 .
Key retail accounts supporting the Blu-ray format include WalMart, Target , Best Buy , Kmart , SAMS, Costco, Blockbuster , Movie Gallery , Hollywood Video, Barnes & Noble , Borders , Hastings and dozens more collectively representing over 60,000 storefronts.
SAFE HARBOR STATEMENT
This press release may contain certain forward-looking statements within the meaning of Sections 27A & 21E of the amended Securities and Exchange Acts of 1933-34, which are intended to be covered by the safe harbors created thereby. Although the company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, there can be no assurance that these statements included in this press release will prove accurate.
For more information contact Susannah Patton 479-751-4500 email: Email Contact Eric Parkinson -- CEO HANNOVER HOUSE Office: 479-751-4500 / Direct: 818-481-5277 www.HannoverHouse.com
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