ORLANDO, Florida, August 10, 2016 /PRNewswire/ --
Viva Entertainment Group, Inc (OTC PINK: OTTV), a developer of an OTT system through which television services are delivered using the Internet, is pleased to provide the following shareholders update from Founder and CEO, Johnny Falcones.
We are very pleased to have received the Financial Industry Regulatory Authority ("FINRA") approval our corporate name to VIVA Entertainment Group, Inc. ("VIVA") and change of ticker symbol to "OTTV" which occurred last week. The Company name change was implemented to more closely and accurately associate the Company's name with our current and future business focus. We aim to be a leader in the emerging Over The Top (OTT) industry, and as such we have incorporated the acronym OTT into our new symbol, as we have built a proprietary and cutting edge OTT platform for viewing live TV, video on demand, global content and more, anywhere, anytime on any device.
The Company's new corporate website went live today, http://www.vivagroup.tv . Additionally the company is nearing completion of its consumer portal. The portal we've developed is a destination site where consumers will be able to access the Viva platform on line and enjoy all of our content from their computer. We are looking forward to launching this in the very near term.
On the technology side, the Company has spent a great deal of resources in building its OTT platform. The Viva platform represents the heart of the OTT ecosystem, enabling providers to accomplish attractive visual and functional differentiation of their OTT service. Viva's main competitive advantages include platform openness and flexibility, unique bouquet of OTT converged multimedia services and customizable, responsive and graphics-rich user interface. The Viva platform comes with comprehensive system management module, which enables complete control over the operational parameters and central customer, device and service positioning. Viva offers a rich information support for Live TV service with customizable channel list and end e-program guide in various shapes.
The uniqueness of our technology platform and our ultra HD quality streaming enable us to engage with organizations that have built large subscriber bases, where we can offer a unique value add that allows for new revenue opportunities. As an example of this, we're proud to have announced last week, a partnership agreement with leading content provider Oi2. As part of the agreement, Viva and Oi2 subscribers will have access to not only all the content provided by Viva, but in addition there will be approximately 1,000 live channels, 2,000 radio stations and a video on demand (VOD) library consisting of approximately 7,500 movie titles. Integration is in full swing with dozens of professionals working on the release and rollout, from engineers & developers to marketing and sales. The importance of this deal for our Company is not just access to a very large subscriber base for us to market and sell our product to, but the value of the VOD content is approximately $500 per movie or equivalent to $3,750,000 if we had to go out and purchase this content on our own.
The Company is also proud of the team which has been assembled, including our two recently appointed independent directors. The two new Board members, Mr. Anthony Hernandez and Mr. Hector Marcano are industry leaders with significant positive contributions to their respective organizations. Mr. Hernandez founded Oi2 and built it into the largest Spanish language radio network in the U.S, while Mr. Marcano has over 30 yrs experience in the media industry and serves as a Vice President at iHeartMedia.
In conclusion, the Global OTT TV and Video market is at the beginning of what we believe is a hockey stick growth curve and Viva is well positioned to build its brand and garner global market share in an industry that did $29.41 billion in revenues in 2015, projected to grow in excess of $64 billion by 2021 according to industry analysts. We are excited by our near term prospects, including multiple business developments we anticipate announcing soon which we believe will pave the way for our long term success.
About VIVA Entertainment Group, Inc.
VIVA Entertainment Group, Inc. is a global entertainment and technology company connecting content owners and video distributors to deliver premium content on any smart device with a screen. Viva has developed an OTT system through which television services are delivered using the Internet protocol suite over a network such as the Internet, instead of being delivered through traditional terrestrial, satellite signal and cable television formats. Viva, your entertainment partner, provides subscribers access to the content they want anywhere, anytime. With a WiFi connection our customers can watch Live TV from around the world, TV shows, as well as movies on demand, Tele-video conference and many other interactive features. Independent and Major film studios, television networks, Telecoms, Cable Companies, and emerging ISPS partner with Viva for enhanced capabilities in multi-platform video distribution. The only true end-to-end provider of premium content technology services, VIVA looks to license and deliver to traditional and OTT video distributors across the world. VIVA is a publicly traded company under the stock symbol OTTV. Company's corporate website: http://www.vivagroup.tv
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.
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