SEATTLE, Nov. 2, 2004 (PRIMEZONE) -- Reeltime Rentals, Inc. (Pink Sheets:RLTR) has signed a Letter of Intent (LOI) to acquire a significant interest in Scream Networks, Inc. Located in Kirkland, WA, Scream Networks specializes in custom developed data-delivery networks designed to handle and transfer large quantities of media rich content over the internet. The LOI is part of ReelTime's plans to establish its network infrastructure in anticipation of a nationwide launch of its Rental-on-Demand service. ReelTime's "Next Generation" ROD technology will allow customers to access DVD-quality movie rentals over the internet from the comfort of their own home.
Alex Stanczyk, CEO of ReelTime said, "Scream Networks will play a vital role in ReelTime's deployment of its Intelligent Rapid Delivery Systems (IRDS) network. Their lead developers are some of the smartest people we have encountered when it comes to data-delivery technology, and they are establishing methods of delivering massive quantities of data over the internet which have the potential to set a precedent for how this is done in the future."
Gregg Garrett, CEO of Scream Networks adds, "Reeltime Rentals is an excellent partner for our company to work with because of the incredible resources they can offer. We are excited about forming a solid relationship and look forward to watching ReelTime take the Rental-on-Demand industry by storm."
According to Nielsen NetRatings, there are currently an estimated 63 million people with a home broadband connection comprising 51% of all internet users. These statistics show significant growth when compared to the same survey one year ago which showed that 42.8 million, 38% of all internet users, had a broadband connection. At this growth rate, there will be approximately 72 million broadband users in the US by the end of 2005. According to Alex Stanczyk, "If ReelTime were to capture 5% of this market by year end 2005, the Company could potentially generate over $550 million in revenue in its first year."
About the Technology
ReelTime has acquired the rights to a revolutionary technology from Innovative Communications Technologies, Inc. This technology is the basis for ReelTime's Intelligent Rapid Delivery Systems (IRDS) which allows consumers to rent, watch, and return DVD's over the Internet, while never leaving the comfort of their own home. These technological advantages will allow ReelTime to realize substantially higher profit margins by eliminating overhead of maintaining brick-and-mortar rental facilities, costly postal delivery, and high infrastructure costs associated with "first generation" video-on-demand companies.
About ReelTime
Reeltime Rentals, Inc., Headquartered in Bellevue, Washington, plans on renting movies in real-time to the living rooms of customers nationwide. Customers will have access to thousands of DVD-quality full-screen movies without the hassles of going to the video store or mailbox, nor the added expense of late fees. ReelTime offers a unique, new, and convenient approach to renting movies at home or elsewhere. ReelTime demonstrates their commitment to using cutting-edge technology by implementing a revolutionary media device rental technology that brings high-quality video content direct to consumers, while taking unprecedented measures to combat the threat of piracy.
For more information on ReelTime rentals you may visit our web site at www.reeltimetv.net.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the Company's control with respect to market acceptance of new technologies or products, delays in testing, and evaluation of products, and other risks.