ValCom Signs Deal With FilmOn To Create 5th Revenue Stream From Its Library
CLEARWATER, Fla., Sept. 28, 2011 /PRNewswire/ -- ValCom (VLCO.PK) Chairman & CEO Vince Vellardita announced today that the company has finalized a deal to broadcast films from ValCom's vast library of video and audio content with FilmOn, a Los Angeles based IPTV provider.
FilmOn is licensing 100 of ValCom's films in an all cash deal for a 1 year initial term. In recent weeks ValCom has created multiple streams of revenue from ValCom's library of 6,000 titles. ValCom will be delivering content to FilmOn at the beginning of October. The films will be used by FilmOn for both Video On Demand applications and as content for 24/7 original channels that are unique to the FilmOn platform.
"The FilmOn agreement is one of many deals we've announced," stated Vince Vellardita, President and CEO of ValCom. "We now have 5 streams of revenue that we've created in the past month, and we have at least 5 more on the way! We're already creating cash-flow through Movies on Demand; DVD's are being sold in retail outlets across the country; songs are being downloaded on iTunes; films and TV series are being licensed to TV networks; and 2 albums are nearly completed that will be released by Universal. We're thrilled with the progress we're making in converting the content library into ongoing revenue in order to fulfill our business plan and create shareholder value."
"We're very excited about creating a new movie channel and adding more VOD content for FilmOn from the extensive ValCom library," said FilmOn's Chairman and CEO, Alki David. "This is an extension of our relationship with ValCom, and we look forward to ongoing synergies."The FilmOn web cable television service is delivered through the freely downloadable multi-platform HDi player or in Flash or app free to mobile devices. FilmOn streams videos in high definition and utilizes proprietary video compression technology to achieve high quality even over basic broadband connections. FilmOn subscriptions start at $7.95. More information on FilmOn can be found at www.filmon.com. For further ValCom information, please text VLCO to 90210 About ValCom, Inc.
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