Magicweb, Inc. (OTC:MGWB) Under pressure from piracy and the illegal copying of content, the online media and entertainment industries are being reinvigorated by new drivers including the online distribution of films and music.
Los Angeles, CA (PRWEB) June 24, 2005 -- Leading the way is Magicweb, Inc., a technology company that will provide a mechanism for movie theatres to compete directly with Internet and DVD pirates.
According to Magicweb CEO, Herbert Becker, Our Corporation has successfully created a seamless technology which allows a movie to be transmitted via IP to a patrons home TV, computer, cell phone, PDA or any wi/fi ready component. Keeping the copyright secure and making it impossible for the end user to copy or save the broadcast."
TechWeb News reports that according to a report released Wednesday, PricewaterhouseCoopers' Global Entertainment and Media Outlook: 2005-2009 cited key drivers as broadband Internet and wireless technologies. "The entertainment and media industry continues to display an extraordinary ability to reinvent itself and create new revenue streams through innovative offerings that barely existed as recently as 2000," said Wayne Jackson, global leader of the firm's Entertainment & Media Practice, in a statement.
The report predicts that spending streams stemming from broadband and wireless technologies will jump from $11.4 billion in 2004 to nearly $73 billion by 2009.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Magicweb, Inc. corporation's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 15c2-11 for the most recently ended fiscal year.
TechWeb News information contributed to this story.
Loews Corporation (NYSE:LTR)
Magicweb, Inc.Public Affairs 206-350-5392
IR@magicwebtv.com
www.magicwebtv.com
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