FOR IMMEDIATE RELEASE
Los Angeles, California - December 29, 2005 - 29HD Network announced today that it is set to launch 29MP4 Video Store Beta(29MP4VSBeta), the first full-length feature film and video download store for Sony's PSP platform in the U.S.. The first such service for the prolific PSP platform.
Beginning on December30, 2005 the 29MP4 Video Store HYPERLINK "http://www.29mp4.com" www.29mp4.com will offer full-length feature films and videos priced at $2.99 each. During the initial beta launch over a dozen films will be made available with a ramp up to over200 movies and videos planned by mid 2006 when the U.S. sell through of PSPs are expected to reach over 8 million.
Like iTunes and other music download services 29MP4VS Beta will allow the browsing, selection and purchase of MP4 PSP formatted films and videos that are then downloaded and stored on either a PC or Mac for later transfer and playback on the PSP.
In keeping pace with Sony's projected goal of 12 million PSP units sold world wide in the first year, over 5 million PSP have already been sold in the U.S. Sony also projects $250 million in movie and video sales in year one.
According to Joseph Shak co-founder of 29HDN, 29MP4VS will give PSP owners an affordable choice for starting a legal collection of MP4 encoded films at a reasonable price. Bob Caird of 29HDN, who headed up HBO's launch of HBO and Cinemax as a paid satellite service for dish owners explains, "with the right pricing and selection available through 29MP4VS, this service is laying the ground work for the PSP to emerge as a true multi-media portable platform, in the same vein as itunes and the iPOD".
29HD Network LLC. a California based company, mission is to bring interesting, intriguing, enlightening and visually stunning programming for the twenty and thirty-something cosmopolitan crowd via innovative media delivery platforms including a cable and satellite network delivered in HD and 5.1 Surround Sound formats and similar content designed for Broadband, and PSP users. www.29hdnetwork.com.
29HDN offers a daily online broadband guide www.29hdnetwork.com for the lifestyle of a 25-40 broadband cosmopolitan, www.29guide.com a broadband media guide updated daily for the best of music, audio recordings and video. 29GUIDE was the first US site to allow direct download of MP4 videos for PSP through a PC or MAC during at the initial launch of the PSP in the U.S. 29HDN also launched www.29hdnetwork.com/pspdirect/ the first video direct download video service through WIFI for 2.5+ browser enabled PSPs. 29Guide is a featured video feed on Sony's official PSP Media Manager software and is also available as a video podcast on iTunes.
29HD Network is comprised of an award winning team of people from the worlds of TV, Magazine, DVD and Broadband. Its key people have worked for media heavyweights such as HBO, MTV and Disney. They were pioneers in satellite broadcasting, and the first with sponsors such as BMW and Levis integrated into DVD content and distributed through POLYGRAM FILMS and Warner Bros.