LOS ANGELES, Aug. 4, 2006 (PRIMEZONE) -- NT Media Corp. (OTCBB:NTMM) (www.ntmedia.tv), a diversified media and entertainment company, announced today that it released the following corporate update from its Chief Executive Officer, Ali Moussazi.
"We are primarily engaged in the business of developing, producing and distributing programming for the entertainment industry. In 2001, the Company began operating in the digital media space and produced and licensed content specifically for online use. The Company owns the service mark 'Neurotrash' registered in the United States Patent and Trademark Office under Certificate of Registration 2,450,157 dated May 8, 2001 and operated the website www.neurotrash.com which featured a variety of short films and videos, primarily comedy.
"As the growth in broadband availability was not as vibrant as previously forecasted, the Company pursued a strategy of diversification into feature film production and other forms of media. Given the recent shift in consumer preferences to online mobile content, the Company is planning to, once again, become more active in digital media programs. The biggest markets of mobile media are television and podcasts. Major networks such as CBS, NBC, ABC, and FOX have all made television shows available for purchase through services such as iTunes and Google Video.
"According to CNetnews.com, in 2005 Cingular started a service which allowed customers to download TV shows directly to their cell phones. Verizon and other mobile phone companies have also come out with similar services. Aside from MP3 music files, podcasts could currently be the most popular form of mobile digital entertainment. Currently most podcasts are radio shows that people listen to 'on demand' and outside of a regular schedule. According to The Economics of Podcasting, a report released Thursday by Nielsen Analytics, part of VNU's media measurement and information group, the most successful podcasts garner as many as two million downloads a month, drawing advertisers such as Dixie Paper Company, which sponsors the Mommycast Podcast Series. Other podcast advertisers are Sony Pictures, Shell Oil, Earthlink, Warner Bros., HP, HBO and GoDaddy.
"Another popular way of watching videos online is through sites such as YouTube and Google Video. These sites allow internet users to post their own videos online for making the video available for download to online purchasers. According to an article by Laura Sydell published in June 2006 on NPR.org, since the launch in December of 2005 YouTube has accumulated $11 million in venture capital. At one time the site hosts 50 million videos.
"On October 14, 2005 we entered into a representation services agreement with Endeavor Agency. Endeavor Agency will represent NT Media on an agency basis and will be our agent with respect to the development, sale, acquisition, and exploitation of media and entertainment with respect to film, television, digital media, and related matters, and such other entertainment and media matters as we may ask Endeavor Agency to handle on our behalf. The Endeavor Agency will work closely with us to develop and exploit content for the online and mobile arenas.
"During the third quarter of 2004, we entered into an agreement with SU Productions, LLC to form a limited liability corporation named SU Distribution LLC ("SUD"). SUD is owned 51% by us and 49% by SU Productions, LLC. During the fourth quarter of 2004, SUD completed production of the first three episodes of an adult-themed 'direct to DVD' program entitled 'Strippers Untamed.' The Company has an inventory of this production and is currently seeking distribution opportunities for this series both domestically and internationally.
"Being mindful of the ever-changing business environment, we continue to pursue opportunities in the media and entertainment sector and possibly other sectors as well.
"We appreciate the continued support of our shareholders. For more information, please visit: www.ntmedia.tv."
About NT Media
NT Media Corp. is a publicly traded diversified entertainment and Media Company based in Los Angeles, California with operations in film and television production and finance.
Forward-Looking Statements
Except for historical information contained herein, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results, performance and achievement in the future to differ materially from forecasted results, performance, and achievement. These risks and uncertainties include, among other things, the funding of amounts of capital adequate to provide for our working capital needs and our timely repayment of debt; our ability to timely and cost effectively complete the development and testing of our products targeted to the bio-chemical market; our ability to commercially produce our products on a profitable basis; commercial acceptance of our products; product price volatility; product demand; market competition and general economic conditions and; other factors described in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.