SOURCE: VGTel, Inc.

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February 04, 2015 10:05 ET

VGTel to Implement Plans to Expand Its 4K Business Interests to Capitalize on the Mainstreaming of 4K in 2015

NEW YORK, NY--(Marketwired - February 04, 2015) - VGTel, Inc. (OTCQB: VGTL) - 360 Entertainment & Productions, through its wholly owned subsidiary Motion Picture Scanning Services, Inc. ("MPSS"), announced its plans today to aggressively expand and grow its 4K business interests in light of commitments made by entertainment industry executives during CES 2015 and the emergence of 4K as the next standard for television.

"What we learned from CES supports what we've been saying for the past year -- 4K will be mainstream in 2015," said MPSS COO James Humann. "The future of television includes 4K Ultra HD in a big way. As soon as we began acquiring the rights to scan, restore, and re-release giant screen films in digital 4K, we saw a growing demand for UHD content. And, with 4K TV prices falling quickly (according to Business Insider, prices have already dropped 89 percent since 2012) the adoption rate is accelerating. It's essential that there be lots of quality 4K programming for consumers to take advantage of the sharp picture quality of the new 4K TVs."

The adoption of 4K hardware is truly happening at a breakneck pace. During CES, Samsung's VP of Television Product Marketing said the television industry shipped 800,000 4K/UHD sets in 2014 -- and Samsung expects to see a 400% increase to that number in 2015.

Also, in a significant development at CES, a host of companies including Samsung, Sony, Disney, Netflix, Dolby, 20th Century Fox announced they were forming the UHD Alliance to standardize the Ultra High-Definition industry and accelerate consumer adoption of 4K. Samsung display executive H.S. Kim called the announcement an industry "game changer." 

Over the coming months, to feed the demand of VGTel's growing network of UHD licensees, VGTel executives plan to focus on the expansion of MPSS, the company's Austin-based 4K film scanning laboratory. MPSS COO James Humann said, "UHD broadcasters and 4K exhibitors worldwide are craving quality content. For content owners with vast libraries of programming -- such as broadcasters and movie studios -- MPSS in Austin offers a turnkey service to economically convert and restore titles to stunning 4K, thereby providing added ROI from their existing library of films."

The large scale distribution of quality 4K programs is imminent as the technology becomes mainstream. "To date, VGTel has funded the 4K scan of the giant screen films: Bears, Adrenaline Rush, Amazing Journey and Alaska and, most recently, at MPSS we competed the 4K scan of the popular films Dinosaurs: Giants of Patagonia and Zion Canyon: Treasure of the Gods. Late last year, we began licensing our films to UHD broadcasters and exhibitors worldwide. Our plans are to continue to build our inventory of 4K content for distribution as well as to provide turnkey scanning and restoration services for third-party content owners," added Humann. "We think 2015 will be a breakout year for 4K."

About VGTel, Inc. - 360 Entertainment and Productions.com
VGTel, Inc., operating as 360 Entertainment and Productions, is a multi-platform company offering products and support in the entertainment industry and is focused on a strategy of growing and building business units through investments and acquisitions.

For further information, go to www.360entertainmentandproductions.com.

About Motion Picture Scanning Services, Inc. 
Austin-based Motion Picture Scanning Services (MPSS) is a world-wide resource for the scanning of films from original analogue formats -- Big Screen 70/65mm, 35mm, or 16mm -- to 8K/4K Ultra High Definition. 

For further information, go to www.motionpicturescanningservices.com.

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Contact Information

  • CONTACT: 
    360 Entertainment & Productions 
    (212.201.0576)
    MPSS & Media Relations 
    James Humann 
    (858.220.9961)