CLEARWATER, Fla., Aug. 17, 2006 (PRIMEZONE) -- Adrenaline Nation Entertainment, Inc. (Pink Sheets:ADNL), which produces Adrenaline Nation TV, the leading channel for the hottest cutting edge independent music TV, innovative independent and short films and adrenaline sports for the highly coveted 18-49 demographic, released the following business update to shareholders.
Dear Fellow Shareholders,
Adrenaline Nation Entertainment, Inc. has achieved numerous major milestones since it began trading as a public company in June of 2005. We engaged a New York City based CPA firm to complete ADNL's first quarter 2006 audits. We continue to build our company and its brand. Adrenaline Nation TV continues to provide our growing audience with a unique destination for authentic, informative and entertaining programming. As a result, we believe our viewers are more loyal and will spend more time watching Adrenaline Nation TV than other networks that offer entertainment programming.
In the last year we created and developed the first of a steady flow of television shows for Adrenaline Nation TV, including "Bubbling Under" which features the best music from the hottest artists bubbling under the charts -- "Paovae X," "Pressure Block" and "Thunder Juice" -- which showcase the hottest new independent bands, music videos and artists, and Adrenaline Rush's power-packed adrenaline videos.
We co-created and secured a 26-episode contract for production and distribution of a new reality TV show for finding and fixing up classic cars, "What's in the Garage" hosted by Sheriff Gerald K. Hege. We are currently producing "Live to Ride," a show for bull-riding enthusiasts -- America's fastest growing sport.
In addition, we have developed shows that inform and advise performers on contractual and other practical music industry issues. We auditioned and selected on-air hosts for each of our music blocks and other featured television shows. We purchased professional television production gear, including cameras, editing suites and microphones, capable of producing multiple television shows each week.
We developed the first version of our Web site, www.antvnet.com, and have been continuously upgrading the site with new interactive features to increase our viewership and the loyalty of our viewers.
Distribution Partnerships
We signed numerous distribution agreements that bring our current audience reach up to 28 million homes and growing.
We executed:
-- An agreement with LiveOnTheNet.com, one of the leading broadband distribution systems on the internet, to broadcast Adrenaline Nation Television 24/7 on www.antvnet.com.
-- An agreement with 4Com, one of the leading television channel syndication representatives in the United States, to represent ANTV's 24/7 channel.
-- A two-year virtual cable distribution deal with VDC in the U.S., one of the fastest growing broadband distribution companies in the U.S. for ANTV's programming on a 24/7 schedule.
-- A multi-year television distribution contract with America One Network for a minimum of five music shows Monday -- Friday for broadcast to its distribution network via Cable DTH, and Broadcast delivered services.
-- An IPTV carriage agreement with Optical Entertainment Network to distribute ANTV's 24/7 Network in Houston, Texas to 1.8 million households via fiber-to-the-home.
In addition, we estimate that our programming currently reaches 100 million broadband subscribers via the Internet. We are currently in negotiations for several multi-year contracts with other major broadband, cable and IPTV service providers.
Other Partnerships and Appointments
We retained Greenberg Traurig LLP to represent us in all dealings with interactive TV Service Providers. Greenberg Traurig offers a global entertainment practice combined with intellectual property, new media, corporate and litigation experience.
We entered into an exclusive agreement to work with Jeff Greenfield, one of the top branded entertainment and product placement experts in the industry, principal of Buzznation, and Publisher, Branded Entertainment Monthly, to grow product placement and advertising revenue. Jeff will lead branded entertainment product placement and cross-promotion negotiations between Adrenaline Nation Entertainment, Inc., its entertainment properties and advertisers. With Jeff's help we launched a mobile marketing program with MangoMOBILE to promote our content to our growing fan base via mobile messaging, one of the hottest new trends in marketing today. This will enable us to stay in close touch with our fans via the third screen, the cell phone, using ring tones, voice tones, and wallpaper.
We secured a management contract with Mark Hughes who sold his company Half.com to e-Bay for over $300 million and is a former marketing executive of Pepsi Co. He also authored "Buzz Marketing," which was endorsed by Steve Forbes and is required reading at Stanford Business School.
We appointed John Furlow, chief of operations. In this capacity John, with whom we have worked for many years in various aspects of the music industry in Nashville, will act as CFO and oversee the daily operations and management of the company.
We hired Charles Bednarek, our senior director of production, and built our production crew. Charles has more than 20 years of television production experience. He has been a part of the production team for many highly successful television shows, including The Rockford Files, Dog Eat Dog, Jay Leno, Best Dam Sports Show on TV, Grammy Awards, Emmy Awards, World Wide Wrestling, The Bold and the Beautiful and the Detroit Automotive Show.
We partnered with Carol Hinnant to lead our distribution efforts with cable and satellite providers. Throughout her career Carol has been a top performer in programming sales and marketing and affiliate relations working with the top cable TV and satellite companies, across all types of delivery media including IPTV, digital cable, Wi-Fi, high definition and mobile TV.
We hired Juan Contreras as director of artist relations to help us find the hottest new country music talent that will appeal to the viewers in our demographic. Among his credits are 22 number one George Strait hits. We will soon be announcing a new venture in the country music industry with Juan's help.
Advertising Revenues and Business Model
ANTV is leading the way in new media markets by delivering on the tremendous purchasing power of the 18-49 demographic with riveting programming they want to see in the formats they want to see it in, be it cable TV, Internet, satellite TV, mobile phones, Wi-Fi or other emerging technologies. Adrenaline Nation TV produces one of a kind sponsorships and product placement both on and off-air that fully integrates campaigns through partnerships with local ad sales and marketing teams. ANTV delivers immediate brand recognition and provides unique interactive opportunities with on-line polling, watch-and-win promotions, customized sponsorship opportunities including single show sponsorship, product placement and vignettes that fit advertisers' objectives.
Our major goal is to create revenue growth and profits through the sale of advertising as well as continued distribution growth and online ad sales. This is the core of our current and long-term efforts. As we continue to establish ourselves as a destination with advertisers and viewers, we will always look to provide fresh, innovative ideas and approaches to our targeted demographic. Our long-term plans include a move toward a national exchange listing when the company has reached the critical mass. As we move forward, we are planning for revenue and asset value growth, to update the company's regulatory filings, accounting footnotes and corporate governance procedures to ensure they meet or exceed the increased administrative requirements of a national exchange. Our planned goal is to obtain a national exchange listing by early 2007.
At ADNL we are passionate about our business model and the unique product that we provide our highly targeted audience. We have assembled a highly capable team of people to work with us, all of whom excel in their areas of expertise. We are all committed to working hard to building a leading music, entertainment and adrenaline sports broadband, cable and HD television network. We have made major strides in the last year, and we continue to build on these accomplishments as we position ourselves for continued success from both a financial and a programming standpoint. On behalf of management and everyone working here at ADNL, I sincerely thank all of our shareholders for their support.
Best Regards, Keith Dressel CEO & Chairman Adrenaline Nation Entertainment, Inc.
Forward-Looking Statements
This document contains forward-looking statements and information as that term is defined in the Private Securities Litigation Reform Act of 1995, and, therefore, is subject to certain risks and uncertainties. There can be no assurance that the actual results, business conditions, business developments, losses and contingencies and local and foreign factors will not differ materially from those suggested in the forward-looking statements as a result of various factors, including market conditions, competition, advances in technology and other factors.
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