SOYO Signs Agreement With ReelTime.com to Provide In-Box Media Content
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ONTARIO, Calif., Oct. 23, 2008 (GLOBE NEWSWIRE) -- SOYO Group Inc. ("SOYO" or
"Company") (OTCBB:SOYO), an innovative provider of computer and consumer
electronics products, announced today that they signed an exclusive agreement
(agreement) with ReelTime Rentals, Inc. to provide on-demand media content. The
agreement requires SOYO to provide a 30-day free trial to ReelTime streaming
video service with all of its LCD monitors and televisions. In return, ReelTime
will provide revenue sharing compensation to SOYO for all future ReelTime.com
subscribers generated from SOYO's marketing efforts.
"Combining our high-quality products with ReelTime's second generation streaming
video will provide synergy to both our businesses," said SOYO Chairman and CEO,
Ming Chok. "Part of our HDTV and monitor development and commercialization
strategy includes taking advantage of the ongoing convergence of the media
market, which includes cable and satellite content providers, the world wide
internet and personal computers."
On-Demand Video services have grown significantly in recent years, and online
digital media sourcing is expected to be the next big growth area. To address
these markets, SOYO sells high definition televisions, monitors and other
products under three brand names, Prive, SOYO and Honeywell.
"This partnership creates immense opportunity," said ReelTime CEO, Barry
Henthorn. "We plan to target one million new consumers annually over the term of
this agreement. SOYO HDTV and monitor customers can now experience our
full-screen high-quality box office hit movies, in what we call 'Point, Click,
and Watch' from the comfort of their own homes."
ReelTime's instant rental service is legal, safe and easy to use. ReelTime's
proprietary method of delivering top-quality video is matched with cutting-edge
encryption protocols to protect the intellectual property of the content owners
and combat the threat of piracy. Customers enjoy lower prices and greater
convenience than rental outlets or rent-by-mail services by shopping online from
the comfort of your own home, and viewing your choices immediately.
SOYO's Retail Outlets
As part of its overall strategy, SOYO strives to have redundant retail outlets,
with none having too large a demand on SOYO's total sales revenue. U.S.
retailers that are currently selling or are expected to sell SOYO products
include: 6th Ave Electronics; Amazon; American TV; Archbrook Laguna; Costco.com;
DataVision; DBL Distributing; eCost.com; Fry's Electronics; J&R Electronics
Inc.; Office Max; Overstock; Target.com; and Rex TV.
Canadian retailers that are currently selling or are expected to sell SOYO
products include: Canadian Tire' Costco.com; Office Depot; and OverRunz.
Latin America retailers that are currently selling or are expected to sell SOYO
products include: Ceven Corp; Deltron Computer; Excellent distributors; Icompy
S.A.; Leader Tech S.A.; SAT International; and Star Computer, which sells
products through the following retail outlets: XPC; Sistemas Comport; Prodecom;
Intcomex; and Pimecor.
About the Agreement
According to the agreement, every customer who purchases a SOYO TV or LCD
Monitor with the ReelTime sticker on the product package receives "ReelCash"
(from ReelTime). "ReelCash" entitles the purchaser to a free one month
subscription and one free rental of a premium title and access to over 700
movies and 1,700 TV shows through ReelTime's website. ReelTime shall issue to
SOYO one million (1,000,000) shares of ReelTime Rentals, Inc. restricted common
stock and provide revenue sharing compensation to SOYO for all future
ReelTime.com subscribers generated from SOYO's marketing efforts.
About SOYO Inc.
SOYO, Inc. is a leading global provider of computer, consumer electronics, and
broadband telecommunications products and services. Headquartered in Ontario,
Calif., with sales offices in Latin America, the SOYO brand has become
synonymous with quality, performance and value. For more information about the
company and its products, please call 909-292-2500 or visit our Web site at
http://www.SOYO.com.
About ReelTime Rentals, Inc.
ReelTime Rentals, Inc. (Pink Sheets:RLTR) is a leading global provider of online
movie and television content with innovative Intelligent Rapid Delivery System
(IRDS) technology that not only significantly reduces bandwidth distribution
costs by up to 97%, from traditional sources, but also increases quality and
resolution for consumers, all at the same time. With major content deals signed
with Sony, Disney, Lightworks, ReelMMA.com/LG Sports Marketing and TMS
Entertainment USA, ReelTime is quickly changing the larger online movie
distribution paradigm. ReelTime Rentals, Inc. (www.ReelTime.com) is
headquartered in Seattle, Washington.
"Safe Harbor" Statement
This release contains certain statements that may be deemed "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are subject to certain risks and
uncertainties and actual results could differ materially from those expressed in
any of the forward-looking statements. The words "plan," "confident that,"
"believe," "scheduled," "expect," or "intend to," and similar conditional
expressions, are intended to identify forward-looking statements. Although the
company believes that the expectations reflected in its forward-looking
statements are reasonable, it can give no assurance that such expectations or
any of its forward-looking statements will prove to be correct. Factors that
could cause results to differ include, but are not limited to, the availability
of components and successful production of the company's products, successful
performance of internal plans, the impact of competitive services and pricing,
general economic risks and uncertainties, and various other information detailed
from time to time in the company's filings with the United States Securities and
Exchange Commission. The company undertakes no obligation to publicly revise
these forward-looking statements to reflect events or circumstances that arise
after the date hereof. Please refer to the company's filings at
http://www.sec.gov.
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CONTACT: SOYO Group Inc.
Edward O'Brien, Director of Marketing
(909) 292-2521
edwardo@soyo.com
Segue Ventures LLC
Investor Relations
Craig Bird
(215)392-4981
chbird@segue.biz
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