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F3 Technologies Finalizing Large Movie Catalog Deal
Company set to unveil new business model
ALPHARETTA, Ga., Oct. 5, 2011 /PRNewswire/ -- F3 Technologies, Inc. (Pinksheets: FTCH). On August 23 of this year, F3 Technologies stated it had entered into negotiations to acquire the distribution rights to a massive catalogue of Hollywood movies; today, F3 is pleased to announce it has now entered the final stage of negotiations with its film supplier in California.
"We anticipate the acquisition of streaming rights for a movie catalogue of this magnitude positions FargoTube to effectively compete in the forefront of the burgeoning streaming movie monetization business," commented Frank Connor, F3's chief executive officer. "Moreover, with the new business model we're set to unveil, we believe we will attract an even greater number of movie catalogues from which to showcase."
Significantly, Hollywood studios and other content owners distributing through FargoTube receive a markedly increased revenue share compared with other competing platforms such as Netflix®.
"It has been apparent over the past few weeks that Netflix is currently struggling just to keep current films in its streaming library, let alone add new titles; it has also been clear while their business model works for DVD rentals, maintaining a meaningful streaming library has presented a completely different set of challenges. With increased competition in today's streaming market, movie studios are now demanding a higher percentage of revenues generated by providers such as Netflix.
"Therefore, F3 Technologies plans to soon unveil its 'new' FargoTube platform experience to fans, performers, customers, and investors. We believe offering a wider range of new movies, music, and shows will be an effective enticement to further increase subscribers on the FargoTube platform," Connor concluded.
ABOUT F3 TECHNOLOGIES, INC. (http://www.f3technologies.com)
F3 Technologies is a software innovator that creates specialized social networks for groups ranging from homeowners associations to music fans. Follow us at Twitter.com/f3technologies, Twitter.com/fargotube and f3technologies.wordpress.com.
Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
Contact:
James Canouse
404-234-2558
SOURCE F3 Technologies, Inc.
F3 Technologies, Inc.
Web Site: http://www.f3technologies.com
F3 Technologies Finalizing Large Movie Catalog Deal
Company set to unveil new business model
ALPHARETTA, Ga., Oct. 5, 2011 /PRNewswire/ -- F3 Technologies, Inc. (Pinksheets: FTCH). On August 23 of this year, F3 Technologies stated it had entered into negotiations to acquire the distribution rights to a massive catalogue of Hollywood movies; today, F3 is pleased to announce it has now entered the final stage of negotiations with its film supplier in California.
"We anticipate the acquisition of streaming rights for a movie catalogue of this magnitude positions FargoTube to effectively compete in the forefront of the burgeoning streaming movie monetization business," commented Frank Connor, F3's chief executive officer. "Moreover, with the new business model we're set to unveil, we believe we will attract an even greater number of movie catalogues from which to showcase."
Significantly, Hollywood studios and other content owners distributing through FargoTube receive a markedly increased revenue share compared with other competing platforms such as Netflix®.
"It has been apparent over the past few weeks that Netflix is currently struggling just to keep current films in its streaming library, let alone add new titles; it has also been clear while their business model works for DVD rentals, maintaining a meaningful streaming library has presented a completely different set of challenges. With increased competition in today's streaming market, movie studios are now demanding a higher percentage of revenues generated by providers such as Netflix.
"Therefore, F3 Technologies plans to soon unveil its 'new' FargoTube platform experience to fans, performers, customers, and investors. We believe offering a wider range of new movies, music, and shows will be an effective enticement to further increase subscribers on the FargoTube platform," Connor concluded.
ABOUT F3 TECHNOLOGIES, INC. (http://www.f3technologies.com)
F3 Technologies is a software innovator that creates specialized social networks for groups ranging from homeowners associations to music fans. Follow us at Twitter.com/f3technologies, Twitter.com/fargotube and f3technologies.wordpress.com.
Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update forward-looking statements as the result of new information or future events. We urge investors to review the risks and uncertainties within its filings with the OTC Markets and/or Securities and Exchange Commission.
Contact:
James Canouse
404-234-2558
SOURCE F3 Technologies, Inc.
F3 Technologies, Inc.
Web Site: http://www.f3technologies.com