|By Business Wire||
|July 23, 2014 09:07 AM EDT||
NanoTech Entertainment (OTCPINK: NTEK), a pioneer in bringing the 4K Ultra HD experience to consumers, announced today that Tom Cosgrove, an entertainment industry veteran and pioneer in digital UHD production, has joined NanoTech’s Content Advisory Board. Leveraging his extensive content and brand experience, Cosgrove will advise NanoTech in several key areas.
Cosgrove, president and CEO of the Sony, IMAX, and Discovery Communications 3net joint venture, has been instrumental in dramatically increasing the services’ audience reach. In just two years, 3net programming became available to more than 40 million U.S. households across five program distribution affiliates, including DIRECTV, Comcast, Service Electric Cablevision and Netflix. In addition, he has spearheaded numerous global programming partnerships with top-tier international platform providers and production companies, and most recently, has led the joint venture’s foray into original, digital 4K content production and distribution. Cosgrove also serves as the Chairman of the International 3D and Advanced Imaging Society.
Prior to leading the joint venture, Cosgrove served as Executive Vice President and Chief Operating Officer for Discovery Channel. Before that, Cosgrove served as General Manager of Science Channel, where he initiated a global rebranding of the channel and had direct oversight of network programming, development, production and marketing as well as business and brand strategy. He joined Discovery Communications as Senior Vice President of Programming for several of the company’s most visible channel brands.
Previously, Cosgrove served as General Manager for TV Guide Channel, where he had direct oversight of content and brand strategy. Cosgrove also held senior management positions at ABC Family, Fox Family, Fox Kids, and Fox Broadcasting, spanning live sports, programming, acquisitions, marketing, research, sales, operations, and affiliate relations. Cosgrove holds an MBA and B.A. from the University of Wisconsin.
Analysts agree that the two factors influencing the success of 4K technology are widespread adoption of 4K UHD TVs and the availability of 4K content. According to presentations made at the recent 2014 SID Business Conference to kick-off Display Week, UHD TV is poised for dramatic growth. IHS Inc. co-sponsored the event under the tutelage of Sr. Director Sweta Dash, who reported that 4K TVs are forecast to sell up to 15M sets in 2014, up from just 3M TVs in 2013. That’s moving from 1% to 6% TV market share this year (2014). IHS reported the category is expected to grow in 2015 to 36M, then 49M, 60M, 69M UHD sets by the end of the forecast period in 2018.
“These are exciting times for 4K UHD technology and NanoTech is building a dynamic programming network featuring a diverse, on-going pipeline of compelling 4K content,” said Cosgrove. “Until now, most people thought you needed a lot of bandwidth and storage to deliver high-quality 4K content. 4K video with uninterrupted viewing can now be delivered at under 10Mbps by NanoTech, which makes 4K Ultra HD available to most North American and European internet subscribers today.”
“Tom has a tremendous success record in advancing new trends in the entertainment industry and we’re very pleased that he has agreed to advise our team,” said Aaron Taylor, EVP of NanoTech Entertainment. “With a world class team of experts on our Content Advisory Board, we have raised the bar in offering continued expansion of the world’s largest library of streaming 4K VOD network.”
UltraFlix, the world’s first dedicated 4K Ultra HD IPTV/OTT network is available now on the Nuvola NP-1, and will be available on a variety of other 4K Ultra HD devices and TV’s later this year. With its vast library of pristine 4K Ultra HD content, UltraFlix subscribers will be able to choose from more than 300 hours of sci-fi, action/thriller, comedy, drama and family movies as well as knock-your-socks-off extreme sports videos, concerts, TV shows, special events and moving murals in addition to 100 hours of free content.
About NanoTech Entertainment
Headquartered in San Jose, CA NanoTech Entertainment is a technology company that focuses on all aspects of the entertainment industry. With six technology business units, focusing on 3D, Gaming, Media & IPTV, Mobile Apps, and Manufacturing, the company has a unique business model. The company has a diverse portfolio of products and technology. NanoTech Gaming Labs operates as a virtual manufacturer, developing its technology and games, and licensing them to third parties for manufacturing and distribution in order to keep its overhead extremely low and operations efficient in the new global manufacturing economy. NanoTech Media develops proprietary technology which it licenses to publishers for use in their products as well as creating and publishing unique content. NanoTech Media Technology includes the world's first 4K Ultra HD streaming solution. NanoTech Communications develops and sells proprietary apps and technology in the Mobile and Consumer space. Clear Memories is the global leader in 3D ice carving and manufacturing technology. 4K Studios creates digital 4K Ultra HD content using both licensed materials as well as original productions. NanoTech is redefining the role of developers and manufacturers in the global market. More information about NanoTech Entertainment and its products can be found on the web at www.NTEK.com.
"Safe Harbor" Statement: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in of the company; the positioning of NanoTech Entertainment, Inc. in the market; ability to integrate both developed and acquired companies and technology; ability to retain key employees; ability to successfully market product offerings and customer acceptance of products; general market conditions, fluctuations in currency exchange rates, changes to systems and product strategy by vendors of systems; and whether NanoTech Entertainment, Inc. can successfully gain market share. Actual results may differ materially from those contained in the forward-looking statements in this press release. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
NanoTech Entertainment, UltraFlix, ProFlix UHD, NanoFlix, NanoTales, NanoBooks, Nuvola NP-1, Nuvola NP-C, Nuvola GP-1, Nuvola RF-10, Nuvola NP-H1, Nuvola SC-1, 4K Studios, Magic Screen 3D, Clear Memories and associated logos are trademarks of NanoTech Entertainment, Inc. All rights reserved. All other marks are the property of their respective owners. “The Future of Television” and “The Future of Entertainment” are service marks of NanoTech Entertainment, Inc., All Rights Reserved
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