IBC Buys Cult Movie Web Site15 Aug, 2002 By: Hive News
International Broadcasting Corp. (IBC) has purchased cultmoviesonline.com, an online streaming media Web site devoted to rare and unusual full-length feature films for viewing on-demand with no download required, IBC announced today.
The pay-per-view and subscription-based on-demand Web site specializes in offbeat titles, many of which are unavailable anywhere else on the Internet. The Web site acquisition coincides with the launch of a new entertainment division called the IBC Entertainment Group.
“With the major movie studios and other entertainment content providers in the entertainment industry already household names, the untapped markets are niche areas,” said Daryn Fleming, president of IBC. “We believe that there is a huge untapped market for narrow, focused, and specialized content. This is the direction we are moving in. Just as the OTCBB News Network focuses on a niche market in the world of finance, the IBC Entertainment Division will enable us to go after specialized markets within the entertainment industry. This makes the IBC Entertainment Group highly attractive for our business plan."
Cult Movies Online was purchased from James Golff in an all-stock transaction. Golff will head up the new IBC Entertainment Group, with Cult Movies Online as its first component. In addition to creating and developing Cult Movies Online, Golff has nearly 25 years experience in all facets of motion picture production, media licensing, content distribution, advertising, marketing and online streaming media development from concept to finished product. He was executive producer for the cult movie classic Hollywood Chainsaw Hookers, and orchestrated its theatrical world premiere at the renowned Hollywood landmark Egyptian Theatre.
In response to the rapid growth and popularity of broadband and wireless Internet applications, Golff feels that the burgeoning streaming, on-demand entertainment medium is the wave of the future.
"When Internet broadcast quality becomes comparable to other established services such as cable, satellite and home video, we anticipate that the dynamics of content distribution will shift in the direction of immediate online, on-demand delivery,” he said. “Rather than trying to compete head-on with studio releases, which, by the time they are available on the Internet, have already reached their saturation point, we are focusing on hard-to-find, unconventional feature films. There is a huge untapped market for this."
IBC is a developmental stage company that will endeavor to develop operations in the publishing, entertainment and multi-media business.
The flagship division is the OTCBB News Network. The company also has IBC Radio, an all-talk online radio station.
The IBC Entertainment Group will be developed with the intent of pursuing and gaining market share in the independent movie production and distribution industry, beginning with the Cult Movies Online.com.
"We believe we are among the first of a new generation of publicly traded, developmental stage companies that are focused on building real businesses and providing value to shareholders rather than the empty, unfulfilled promises that characterized many startups of the past,” said VP Darrell Nether. “The IBC Entertainment Group is very exciting and will get us further on the playing field in the area of specialized content delivery."