Target Division Hannover House Pacts With YouTube for Video Streaming
February 08 2010 - 12:45PM
Marketwired
Hannover House, the film and video distribution division of Target
Development Group, Inc. (PINKSHEETS: TDGI) (Other:
www.TargetDevelopmentGroup.com, www.HannoverHouse.com), has entered
into an agreement with Google to establish a video rental and
video-on-demand channel for Hannover House movies through YouTube,
reports Eric Parkinson, C.E.O of Target and Hannover House. The
venture will launch this week and will initially cover more than
100 films in the Hannover House libraries, including titles from
Elite Entertainment, FOCUSFilms, Plaza Entertainment and Hannover
House.
"YouTube and Google are uniquely positioned to reinvent the
entire video-on-demand consumer model," said Parkinson. "Their
reach is unsurpassed, and their consumer pricing model is extremely
competitive, in many cases beating traditional video rental costs.
With more and more consumers moving toward video-on-demand as a
convenient way to view movies, the Hannover House movie channel
venture with YouTube will prove invaluable to our company."
"We believe that video-on-demand will continue to grow over the
next few years into a major revenue source for the company,"
Parkinson concluded. "The technology has reached the point where
films can be quickly and safely streamed directly to consumers, and
this creates an immediacy not previously available. Additionally,
video-on-demand eliminates the inventory, freight and storage costs
associated with hard goods items such as DVDs and Blu-ray
units."
Hannover House is a full service entertainment and media
company, established in 1993. In 2002, the company added DVDs to
its core business as a book publisher and expanded again last year
to handle theatrical releases. The company plans to release 36
titles during 2010 to supplement the existing catalog of more than
150 titles.
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: Fred Shefte 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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