NEW YORK, April 5, 2000 (PRIMEZONE) -- Medium4.com(tm), the home of InternetOnlyTV(tm), (OTCBB:MDMM) announced annual operating revenues of $45,800 and operating losses of $3,827,051 for year-end December 31,1999.
Comparable data from 1998 is not meaningful since the company commenced operations in 1999.
In its annual report, the company notes that since launching in May 1999, when it broadcast a single streaming video under the name ForeignTV.com, Inc., Medium4.com, Inc. has become one of the leading independent Internet broadcasters providing streaming audio and video content over four InternetOnly "television" networks. The company's networks currently host nearly 40 distinct channels targeted to various market segments. These networks and channels deliver, on-demand, over 150 videos at a time ranging from brief vignettes to full length features covering a wide variety of subjects from world TV newscasts to city-based channels and specialty niches. Each of the four networks, in place at the close of 1999, hosts a collection of related channels of interest. Each channel is branded with its own logo and identifiable Internet address, the latter drawn from Medium4.com's(tm) library of more than 1,500 domain names, which distinctively reflects the content focus of the channel and the specialized programming it offers.
The company also reported that it has begun to implement its revenue strategy based on multiple streams that include streaming video advertising, affiliate relations, content syndication and e-commerce.
The Medium4.com(tm) name reflects the transformation of the Internet into the fourth medium for television broadcasting -- after over-the-air TV, cable TV and satellite delivery systems. Across the Company's five networks, and over 40 distinct channels, Medium4.com(tm) is the Internet's leader in creating, producing, aggregating and broadcasting rich, in-depth, on-demand video content unavailable on traditional, cable or satellite television. The Medium4.com(tm) (http://www.medium4.com) InternetOnlyTV(tm) networks include StreamingUSA.com(tm) (http://www.streamingusa.com), NicheTV.com(tm) (http://www.nichetv.com), Medium4Music(tm) (http://www.medium4music.com), ForiegnTV.com(tm) (http://www.foreigntv.com) and a recently announced Medium4Latino(tm) (http://www.medium4latino.com). Each of these utilizes Medium4's proprietary encoding technology creating a seamless streaming video experience.
Medium4.com's(tm) networks are market leaders in delivering original and aggregated streaming video, on-demand, from across the United States and countries around the world including targeted niche programming, music videos and interviews, city-focused entertainment and information, exclusive features and interviews as well as full-length feature films. The Medium4.com(tm) audience watches at work and at home, it includes businesspeople, business and leisure travelers, music, fashion, film and animal lovers and a growing community of armchair globetrotters seeking on-demand access and engagement with the world's people, places, ideas and cultures.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Medium4.com'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 Prospectus. For more information contact: Lewis Goldberg, Medium4.com (212) 993-9400 or lgoldberg@medium4.com.