NEW YORK, Dec. 15, 2003 (PRIMEZONE) -- Cyper Media, Inc. ("Cyper") (OTCBB:CYPM) is pleased to announce that it has entered into an agreement with Mouse Co., Ltd. ("Mouse") of Japan to establish a joint-venture to be known as Digital Dream Entertainment ("D.D.E").
D.D.E will focus on providing OEM services to animation studios in Japan and co-marketing finished product in Japan, China and Korea. Management expects income to exceed $2M over a five-year period and sales volume is also expected to increase at 20% per year as a result of this joint venture.
"I anticipate that D.D.E will provide Cyper Media with a steady stream of OEM revenues from Japan for many years to come. But, more importantly, it is an additional opportunity to showcase Cyper's work product quality through these joint venture projects," said Duk Jin Jang, CEO of Cyper.
Yauyoshi Kaneko, President of Mouse, stated "D.D.E has the marketing network in Japan as well as the experience and know how of Cyper in Korea. With the synergy between these two partners, I believe that D.D.E will be a competitive player in the animation market."
Japan currently holds more than 60% market share of the world's television animation market. In 2003, the animation market was worth more than $14 billion USD. Today, with the many successes of animated feature films, demand for animation products has been growing rapidly. Currently the typical 22-minute television animation episode costs $110,600 USD and was completed in an OEM fashion.
About Cyper Media
Cyper (http://www.cypermedia.com) is a 3D digital animation production company, producing its own proprietary content, and providing services to the television, commercial and film industries globally. The Company develops and produces 3D digital animation for television, short films, CGI feature films, music videos and multi-media applications such as video games. Cyper intends to acquire business opportunities to build revenues while building a library of quality movies and TV series. Current Projects include, "The 5th Glacial Epoch," a full-length feature film with a distribution LOI signed by MGM. In addition, Cyper is negotiating to produce "Hobie & Chewby", a 26-episode proprietary TV show and two additional animated TV series, "Kollang" and "Q-Pet."
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