SAN DIEGO, Jan. 22 /PRNewswire/ -- Project Mayo, the international group of Internet and video technologists who are creating the next generation of the popular DivX(TM) video format, announced today a new corporate identity called DivXNetworks. By leveraging the DivX brand, DivXNetworks, Inc. (www.divxnetworks.com) will focus on building a business model around DivX and developing the standard for high-quality broadband video -- a standard that will set the pace for fast, secure and easy Internet downloads of near DVD-quality movies and videos. DivXNetworks is the first step by Project Mayo to transition the preferred DivX video format from the underground to mainstream. As a part of this process, the Project Mayo site (www.projectmayo.com) will become an open source DivX technology hosting site for Internet and video technology enthusiasts. "DivXNetworks is entering the market at the right time. Serious advances in video compression technology, Internet security and the rapid adoption of broadband and broadband-ready platforms over the past year have created a harmonic convergence that will fundamentally change the dynamics of the movie industry," said Jordan Greenhall, co-founder and CEO of DivXNetworks, Inc. "DivXNetworks will leverage all of these critical technologies to deliver pure viewing satisfaction to movie enthusiasts, while allowing the film and video industries to profit from a new distribution channel for their high-quality content." Later this year, DivXNetworks will announce the DivX Distribution System(TM), a sophisticated back-end infrastructure powered by the next generation of DivX technology that will deliver the following benefits to independent filmmakers, major film studios and video production houses: -- Quality -- delivery of near DVD-quality compressed to CD sizes. With DivX, content providers can use the existing Internet to deliver to their viewers an experience that they are familiar with (e.g., television and DVD) while maintaining the personalization power of the Net. -- Security -- complete support for digital rights management (DRM) technology. Secure transactions on the Internet and playback of content is limited to the person who purchased the content. -- Economics -- using the Internet as a distribution channel will come at a fraction of the cost of other popular channels, such as VHS, DVD and theatrical distribution, providing a less expensive means to deliver high-quality content directly to consumers. -- Speed, Instant gratification -- in 25 minutes or less, movie enthusiasts can download popular movies over a DSL or cable modem and enjoy near-DVD quality movies, without leaving the home or office. About DivXNetworks DivXNetworks is the leader and developer of DivX(TM), which is emerging as the standard for high-quality broadband digital video. The company operates Project Mayo, the popular development site of the next generation of DivX technology. DivXNetworks is transitioning the popular DivX video compression technology from the underground to mainstream, setting the pace for fast, secure and easy Internet downloads of near DVD-quality movies and videos. DivXNetworks is headquartered in San Diego, California, with satellite offices in New York and Los Angeles. A European office will be opened soon in Paris, France. For more information about DivXNetworks, visit http://www.divxnetworks.com. About Project Mayo Created by the leaders and developers of DivX, the popular movie compression technology, Project Mayo is the first open source DivX technology hosting site for more than 10 million Internet and video technology enthusiasts around the world. Its members include a former MP3.com executive, MPEG-4 experts, and "Gej," the creator of the DivX format. Project Mayo can be reached at http://www.projectmayo.com.
SOURCE DivXNetworks, Inc.