NEW YORK, Feb. 23, 2004 (PRIMEZONE) -- Cyper Media, Inc. ("Cyper") (OTCBB:CYPM) announced today that they have entered into a contract with Madoka Co., Ltd. ("Madoka") of Osaka, Japan, to supply graphics for videogames in Japan.
The contract is from January 1, 2004 to February 2, 2006 and gives Cyper the rights to create Game Characters and Digital Backgrounds.
Video games are extremely popular throughout Asia, which represents a growing opportunity for Cyper. The online gaming market alone is enormous. A report by International Data Corp. (IDC), "Online Gaming in Asia/Pacific," indicates that the online gaming market in the Asia region was worth US $533 million in 2002. Korea and Taiwan are two of the world's largest online gaming markets. The study revealed Korea to be the biggest online gaming market in the region, accounting for 54 percent of the total market.
According to a survey by IDC, China alone had 13.12 million online game users in 2003, up 56 per cent from a year earlier. In September 2003, the Taiwan Index Corp. spent US $4.25 million to purchase local distribution rights to the Chinese-language version of the online game "Seal Online" produced by South Korean game publisher SunnyYNK. In December, Deloitte Touche Tohmatsu (DTT), announced the results of its Asia Pacific Technology Fast 500 Program, which is a survey of the leading technology companies across the region. The program ranked revenue growth over the three-year period 2001-2003. At the top of the list was Taiwanese online-game software developer Chinese Gamer, it grew 20,402 percent over the survey period. Second was Shanda Networking Co. Ltd., which grew 10,342 percent over the survey period. Finally, the Japanese company "G-mode," a mobile game developer, ranked third, with average revenue growth of 5,624 percent.
Duk Jin Jang, CEO of Cyper commented, "We are happy to expand our business into the Japanese videogame market. The Asian videogame market is a large and important market for Cyper and will help contribute to the Company's long-term growth. We intend to provide quality graphics to insure the success of these games and secure additional contracts with other game makers in the near future."
About Madoka
Madoka is a videogame company located in Osaka, Japan. Madoka develops proprietary videogames and provides service work in planning, artwork, programming, and computer graphics and sound.
About Cyper Media
Cyper (http://www.cypermedia.com) is a 2D/3D digital animation production company, producing its own proprietary content and providing services to the television, commercial and film industries globally. The Company develops and produces 2D and 3D digital animation for television, Original Video Animation, short films, 2D and CGI feature films, music videos and multi-media applications such as video games. Cyper intends to acquire business opportunities to build revenues while building a library of quality movies and TV series. Current Projects include, "The 5th Glacial Epoch," a full-length feature film with a distribution LOI signed by MGM and "OMRoid", a TV animated series that has already sold over 10,000,000 toy items. In addition, Cyper is negotiating to produce "Hobie & Chewby", a 26-episode proprietary TV show and two additional animated TV series, "Kollang" and "Q-Pet."
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