NuTech Digital Announces U.S. Distribution Agreement with WEA Corp.; WEA Corp. to Distribute Select Titles from NuTech Digital Catalog
VAN NUYS, Calif. --(Business Wire)-- May 25, 2005 -- NuTech Digital, Inc. (OTCBB:NTDL) today announced an exclusive distribution agreement with WEA Corp., Warner Music Group's (WMG) U.S. sales and retail marketing company. WEA Corp. will distribute NuTech Digital's previously unreleased audio CD and music DVD titles representing classical, urban and R&B genres. Under the agreement, WEA will choose which music titles from NuTech Digital's catalog will be made available through its distribution services.
Commenting on the agreement, NuTech's CEO Lee Kasper stated, "I have been on record as stating we are continuously looking at the efficiency of our operations. This agreement with WEA allows for further market penetration of certain of our products, through an industry leader, thereby giving opportunity to increase our revenues, with a simultaneous reduction in cost to our operations, which should help our overall profit margins in our bottom line. It will also allow us to focus more acutely in the area of our main business goal, and that is production of High Definition Concert DVDs. WEA's desire to distribute our product is a compliment to NuTech's ascension in the ranks of the entertainment industry."
About NuTech Digital
NuTech Digital is a leader in Digital Rights Management (DRM) technology for the secure Internet distribution of entertainment content. NuTech Digital is also a pioneer in the home entertainment product market, with more than 600 exclusive DVD titles and a growing library of High Definition music concerts. NuTech Digital is a leader in the home entertainment arena offering original and licensed content via a worldwide network of distributors, retailers and Internet entities. The Company recently launched its Platinum Concert Series with plans to produce and distribute many more concert DVDs annually featuring the biggest names in music today. The Company also enjoys a significant competitive advantage with its proprietary DRM technology which enables the secure distribution of high-resolution digital content via the Internet. NuTech's DRM platform allows its feature films, Music concerts, High Definition Productions, Japanese animation and late night programming to be accessed via secure downloads, rented through pre-delivered DVDs, and included in online subscription services. The Company also facilitates authoring services and production to content providers in the entertainment industry. Our Company's public financial information and filings can be viewed on our web site at http://www.nutechdigital.tv.
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that if they never materialize or prove incorrect, could cause NuTech Digital, Inc.'s results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in NuTech Digital, Inc.'s reports filed with the Securities and Exchange Commission.
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