LOS ANGELES, CA--(Marketwire -07/26/12)- The Digital Development Group Corp. (DIDG) ("Digidev," "Digidev Group" or the "Company"), a development stage company aiming to offer an in-depth portfolio of content for Internet TV distribution, is pleased to announce the launch date for its first of many "OTT" internet channels. "OTT" is an industry term that stands for "Over the Top" to describe an internet TV channel running on top of regular high speed internet service.
"We have been working non-stop to reach the point where we are now able to announce a launch target of early August 2012 for our first 'OTT' Channel," stated Martin W. Greenwald, Chairman and CEO of Digidev. "This milestone propels us out of the 'development' stage and ramps us into operations which for our content providers and shareholders alike is truly great news."
The inaugural channel will introduce the "Something Weird" portfolio of classic films to a new audience of internet connected viewers. This feature portfolio is especially noteworthy because it has already been generating considerable revenues through its distribution on traditional "on demand" cable platforms. "The fact that proven classic content was selected as a long term component of the Digidev distribution portfolio speaks to our industry background and ability to license superior niche content that consumers truly want to see," adds Greenwald.
The channel will be available on a wide variety of internet enabled devices such as Google TV, Roku, Boxee and mobile devices. Digidev continues to negotiate and close similar distribution agreements for commercially noteworthy and compelling content that is aimed at reaching a large and growing audience as the "OTT" market continues its rapid expansion.
"Since Digidev's inception, the 'OTT' sector has developed beyond all initial expectations, and with the recent additions to our management and core development team, Digidev is poised to emerge as one of the independent leaders in this evolving industry," comments Company President Joe Q. Bretz.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.digidev.com.
About The Digital Development Group Corp. (DIDG)
The company was founded by CEO Martin W. Greenwald and President Joe Q. Bretz, who have extensive experience in the entertainment industry. Mr. Greenwald oversaw Image Entertainment Inc. as Chairman of the Board from $1 million in revenues to over $120 million in revenues per year, while Mr. Bretz started working on various media start-ups in Silicon Valley during the dot com boom in the late 90s, his experience has ranged from a feature film producer to a high tech incubator. Bretz and long time technology partner Richard Verdoni, the company's CTO, have been working on this technology in various formats for over 6 years. Given Greenwald's success in licensing content and Bretz and Verdoni's technological know how, the company is well positioned to be a leader in the Internet television revolution.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, software and sales methods as well as financial projections for the size of the internet TV market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.