MINNEAPOLIS, MN--(Marketwire - Mar 4, 2013) - Soul and Vibe Interactive Inc. (OTCQB: SOUL), "The Company," a video and computer games company, announced today it has been through a rigorous qualification process and successfully been selected as a publisher of console games by both Microsoft and Sony. The PlayStation® 3 and Xbox 360® together account for 78% of the console market, according to VGChartz. According to PricewaterhouseCoopers ("PwC"), consumer spending on console, mobile, and personal computer game software, topped $56 billion in 2010 and games industry revenue is projected to reach $82 billion by the year 2015.
Soul and Vibe is one of only a small number of companies worldwide that has been approved by Microsoft as a publisher of content for Xbox 360®. According to VGChartz, there have been 3,343 game titles published for the Xbox 360 that have cumulatively sold 744 million units since the console launched in November 2005. Soul and Vibe is also licensed to develop and publish games, companion "apps," and content on other Microsoft platforms including Windows 8, Windows Live, and Windows Phone.
Soul and Vibe is also approved by Sony as a licensed developer and publisher for the PlayStation® 3 and PlayStation® Vita consoles. 2,763 PlayStation 3 games have been published since the console's launch with 646 million units sold, according to VGChartz. Additionally, VGChartz estimates that 172 PlayStation Vita titles have been published that have sold 10.45 million units since the PlayStation Vita's launch.
"After completing an in-depth process, Soul and Vibe was selected to become a publisher for Microsoft's and Sony's hardware platforms. This process involved each of these console manufacturers vetting Soul and Vibe as a company that can deliver entertaining and engaging games. We were identified as a company that specializes in the creation of original intellectual properties and that has extensive experience licensing world-renowned brands from influential companies. With our publishing licenses for the Xbox 360 and the PlayStation 3, we address 78% of the console market," stated Soul and Vibe CEO and President Peter Anthony Chiodo ("Tony").
"While the games we launch address an enormous installed base for the current generation of hardware, we are also very excited about Sony's and Microsoft's 'next generation' hardware launches. We look forward to developing innovative games and entertainment experiences for these future platforms," Chiodo added.
Mr. Chiodo has 22 years experience in the video and computer game industry as an award-winning Director of Product Development and Producer. He has personally launched over 200 video and computer games during the course of his career. From 2000 to 2003 he was a Program Manager at Microsoft Corporation, where he led internal teams from engine and game prototype to project green light and release for the original Xbox, and helped coordinate the localization of Xbox launch software for European and Japanese markets. He was also a member of the development studio responsible for the Twisted Metal, Warhawk, and Jet Moto game franchises that launched on the original Sony PlayStation.
Data on video game units sold cited in this press release, as well as console market shares are sourced from VGChartz.
Founded in 2005 by Brett Walton, VGChartz (Video Game Charts) is a business intelligence and research firm and publisher of the VGChartz Network of gaming websites. As an industry research firm, VGChartz publishes over 7,000 unique estimates per week relating to worldwide game hardware and software sales and hosts an ever-expanding game database with over 40,000 titles listed and 1.5 million unique data points. The VGChartz Network is made up of the VGChartz, gamrFeed, gamrReview, gamrTV and gamrConnect brands and provide consumers with a range of content from news and features to reviews to social networking and community features.
About Soul and Vibe Interactive Inc.
Soul and Vibe Interactive Inc. (also Soul & Vibe Interactive Inc. on www.sec.gov) is a publisher of games and games-related content for consoles, mobile devices, and personal computers addressing a $56 billion market projected to grow to $82 billion by 2015. The Company specializes in the creation of original intellectual properties and has extensive experience licensing world-renowned brands from influential companies. Soul and Vibe has a license agreement with General Mills, and game development and publishing agreements for the Xbox 360® video game and entertainment system, Windows 8, Windows Live, and Windows Phone from Microsoft, and the PlayStation® 3 computer entertainment system and PlayStation® Vita (PS Vita) from Sony. Through partnerships with technically sophisticated software developers located all over the world, Soul and Vibe transforms unique concepts into engaging, highly accessible, and affordable games and entertainment experiences. www.soulandvibe.com.
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Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release, including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.