SOURCE: WhereverTV Broadcasting Corp.
PITTSBURGH, PA--(Marketwired - Feb 18, 2014) - WhereverTV Broadcasting Corp. (OTC Pink: TVTV), a leader in delivering Over the Top (OTT) subscription television services to a variety of devices, including Connected TVs, streaming media players, smartphones and TabletPCs, announced today its forecast for the Internet TV and Over-the-Top (OTT) industry for 2014. The forecast includes a prediction of the Aereo case before the Supreme Court, as well as its own very ambitious plans for the year from a compliance, product development, and subscription services perspective. WhereverTV has posted their 2014 plan to their website which includes the intent to sign additional content licenses with broadcasters, the intention of launching of their US based Internet television service, the commencement of a subscription drive, the intent to raise working capital and their intent to file necessary documentation with the Securities and Exchange Commission (SEC) to become a fully reporting company. For details of the WhereverTV 2014 Plan, please visit http://www.wherever.tv/html/pdf/2014_Plan.pdf.
The filing of necessary documentation with the SEC includes the completion of audited financials for which the company has engaged both a Certified Public Accountant and a PCOAB registered Audit firm. This work has already commenced. The preparation of financials, the completion of the audit and the filing of necessary documentation with the SEC is targeted for the end of March 2014. The Company is taking the necessary steps to receive approval from the SEC in order to become a 'fully reporting' company, and to up-list its shares from an OTC PINK listing status to an OTCQB listing status. Mark Cavicchia, TVTV's CEO, stated, "We want to demonstrate that we value our shareholders and stakeholders and feel that the up-listing effort and a fully reporting status conveys our commitment to regulatory compliance, full disclosure and shareholder value."
With the continued rapid growth and acceptance of recorded content via OTT services that include Netflix, Hulu & other OTT platforms, the Company believes it is well-positioned for substantial growth in 2014 when it offers its real-time over the top content from more countries and to more countries. TVTV continues to offer its Arabic, Moroccan, Greek and GlobalTV television subscription plans, while it prepares to launch its US based service. Meanwhile, the Company continues to pursue its patent pending technology, the Global IPG. Mr. Cavicchia went on to say, "The ability to incorporate over the top services with traditional pay television services is something consumers are not only learning to enjoy, but are starting to expect from their on-screen program guides. WhereverTV's Global IPG is the ideal solution to this growing desire."
The most ambitious goal of WhereverTV for 2014 is the launch of its US television subscription service. Although the Company began negotiating rights with US television networks in 2012, it believes it finally has enough compelling content available to launch a US service aimed at the 110 million existing cable and satellite households looking to lower their cable bill, as well as the more than 40 million consumers of recorded over the top subscription services offered by Netflix, Hulu and others. "The timing to launch a live-streaming OTT US service couldn't be better," stated Cavicchia. "With Netflix's 38 million subscribers and the Aereo decision headed to the Supreme Court this April, we believe a legally agreed over the top subscription service will be well-received by US consumers." The Company has successfully agreed to terms with more than 50 US television networks and is in active discussions with many others. WhereverTV expects to launch its US service with approximately 80 television channels and 40 audio channels.
The Company also continues to expand its international subscription offerings. With nearly 170 million pay television subscription households, Western Europe is the second most valuable television market in world behind the Unites States. And since WhereverTV already delivers its free services to customers in 189 countries around the world, the Company is looking to establish a foothold into Western Europe by partnering with an established OTT platform provider or streaming media OEM with a substantial number of devices already in consumers' homes. By partnering with a device manufacturer that has existing penetration into this market, WhereverTV will be able to more quickly reach television sets with its subscription services across Western Europe.
Cavicchia has also predicted the outcome of the current Aereo Supreme Court case. Mr. Cavicchia believes that the matter of: AMERICAN BROADCASTING COMPANIES, INC.; DISNEY ENTERPRISES, INC.; CBS BROADCASTING INC.; CBS STUDIOS INC.; NBCUNIVERSAL MEDIA, LLC; NBC STUDIOS, LLC; UNIVERSAL NETWORK TELEVISION, LLC; TELEMUNDO NETWORK GROUP LLC; WNJU-TV BROADCASTING LLC; WNET; THIRTEEN PRODUCTIONS, LLC; FOX TELEVISION STATIONS, INC.; TWENTIETH CENTURY FOX FILM CORPORATION; WPIX, LLC; UNIVISION TELEVISION GROUP, INC.; THE UNIVISION NETWORK LIMITED PARTNERSHIP; AND PUBLIC BROADCASTING SERVICE Petitioners, v. AEREO, INC., F/K/A BAMBOOM LABS, INC., Respondent, will be decided in favor of the broadcasters.
"It is difficult to fathom a scenario in this country where a company's product or service can be redistributed, rebroadcast and/or monetized by another company, without including some form of agreement or payment to the license holder of that product or service," stated Mr. Cavicchia. "For this reason, we closely monitor the developments of this case because we remain intent on pushing out our own business model with the blessing of the broadcast industry by paying them their rightful licensing fees due them if/when we rebroadcast someone else's content. However, regardless of how the Supreme Court decides, we feel WhereverTV lands in a very enviable industry position to meet the changing needs of consumers as it relates to their television accessibility and channel line ups. This is why we are rolling out our US service as soon as possible in 2014, in preparation for either outcome," he added.
To learn more about WhereverTV, please visit www.wherever.tv.
About WhereverTV Broadcasting Corporation
Founded in 2007 by Mark Cavicchia, WhereverTV is the next generation subscription television service, providing consumers with licensed, live-streaming programming identical to existing cable & satellite providers, with the only difference being that the broadcast signal is received via the internet. WhereverTV provides a subscription TV over internet service that is an alternative to traditional cable and satellite services, with the added benefits of personalization and portability across many of the most popular web connected devices. Also known as Internet TV, WhereverTV delivers these same channels, shows and events to SmartTVs and digital media receivers, including: GoogleTV, AppleTV, Roku, Boxee, iPhone, iPad, iPod Touch, Droid Smartphone, and TabletPCs through the public Internet via an over the top (OTT) platform. The WhereverTV platform manages licensed and free to air content across these devices and unlimited geographies wherever there is internet connectivity. The customer viewing experiences are based on customer location (geo-targeting) and content-rights management (subscriptions). Current in-language subscription offerings include Arabic TV, Greek TV and Moroccan TV. Apps are presently available for iOS (Apple), Android and GoogleTV devices. DVR functionality to record your shows and view later is presently in the works. Licensed US TV content subscriptions will be available in 2013. Smart phone apps are available in App Stores for free. Please visit: www.wherever.tv, for more info.
This news release contains forward-looking statements, which may not be based on historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by applicable securities laws, the Company disclaims any obligation to update any such factors or to publicly announce the results of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.