Source: Private Media Group Inc.
By: Company Press Release
(BARCELONA, Spain) — Private Media Group Inc. (Nasdaq: PRVT – news), worldwide leader in premium-quality adult entertainment products, services and Internet content, today announced that it is to host a series of events in Cannes, France, on May 15 and 16 as part of the Company’s 35th Anniversary.
The high-profile events will take place during the internationally-renowned Cannes Film Festival and will be attended by the world’s media.
Although founded in 1965, the Company has consistently kept pace with each technological development, from video and CD-Rom formats to the internet, DVD and other 21st century multimedia communications channels. The global strength and recognition of its brand name has seen Private Media Group Inc. become a world leader in each product and service category it has entered and profitability has been rising in step with the Company’s status as a major internet content producer for proprietary and licensed websites; its unique ability to utilize its own 35-year back catalogue significantly reduces costs while increasing margins.
The high-point of Cannes 2000 will be a ‘Private Blue’ party in the Martinez Hotel on the famous La Croisette beach-front where celebrities, VIPs, motion picture industry figures and media gather for a week of business and festivities. The Private event will not only mark 35 years of success for the Company but will see the unveiling of the latest collection in the Private Circle range of urban fashionwear and the official launch of ‘Private Blue’, a new adult television channel broadcasting via the BSkyB digital and analogue television platforms in the UK which has already more than 5,000,000 addressable subscribers in just its first month of operation.
This compares with very favorably with the 9.1 million addressable subscribers that New Frontier Media reported for the whole of its 1999 fiscal year and also compares very favorably with Playboy TV, “which added approximately 3.5 million households last year,” according to its own published information. The ‘Private Blue’ party will feature a musical performance from special international guest artists.
In addition to the ‘Private Blue’ party, the Company has secured a prime beach location in front of the Martinez Hotel for a host of daytime activities, including photo sessions with it’s top female performers, an open-air fashion show, interactive fun and games with selected members of the viewing public on the sea-front and special webcam links for transmission to the Company’s flagship website, www. private.com.
The leading publicly-quoted adult entertainment company in the world, Private Media Group Inc., is the founder of the globally established brand name ‘Private’ and has positioned itself in the marketplace with a visionary management strategy that combines both New Economy (Internet, multimedia, e-commerce) and Old Economy (videos, magazines) business models. Maintaining a total adult lifestyle philosophy, this is reflected in the Company’s broad range of products and services, both proprietary and licensed, and its strategic policies of development, diversification and acquisition.
For more information, visit the Company’s corporate Web site at www.prvt.com
This release contains, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the Company’s current judgments of those issues. However, because those statements are forward-looking and apply to future events, they are subject to such risks and uncertainties, which could lead to results materially different than anticipated by the Company.
CONTACTS: In Barcelona, Spain: Johan Gillborg of Private Media Group Inc., +34-93-590-7070, johan@milcap.es; or In London, England: Adam Reynolds of Hansard Communications.Com, 207-840-7782, adam.hansard@clsholdings.com
