Hollywood.TV Announces Plans to Go Public
Top Silicon Valley analysts are now saying the next big thing on the internet is www.Hollywood.tv
(PRWEB) October 10, 2006 -- With more and more media and strategic partners lining up to share in its future, Hollywood.TV is poised to capture one percent of the more than $1 trillion annual revenue reaped by the international entertainment industry. Hollywood.TV (www.hollywood.tv) announced plans today that it will go public in the very near future.
“I want to control Hollywood online by making Hollywood.TV the Google of Hollywood," Sheeraz Hasan, the website’s founder and CEO, stated. “Our mission is to organize the world's celebrity video and make it universally accessible for all people, anywhere in the world.
As “The Google of Hollywood”, the website provides fans with a wide range of online media related to their favorite stars. For example, when a fan types in “Tom Cruise” or “Shahrukh Khan”, all the video content from around the world relating to the specified stars will be brought up on their screens within seconds. Additionally, the Hollywood.TV website (www.hollywood.tv) will offer exclusive and unique content produced by Hollywood.TV for that particular star.
Furthermore, Hollywood.TV will become an online distributor of international movies and television shows available “on demand”. For example, if fans want to watch a specific episode of the American comedy “Seinfeld”, the Indian talent show ‘Indian Idol’, the Irish film “The Wind That Shakes the Barley”, the winner at the 2006 Cannes Film Festival, or the recently released Hollywood movie “Superman Returns”, they would simply choose and download the video from the Hollywood.TV website and watch it at their own convenience, anywhere in the world.
In essence, the ultimate goal of Hollywood.TV is to create a ‘one-stop’ destination for Hollywood and international entertainment, including news, movies, celebrities and music. “Hollywood.TV is going to open the doors of Hollywood, to over 1 billion people online,” Hasan pointed out.
According to the Hollywood Reporter, film entertainment companies are expected to spend approximately $8.5 billion on advertising in the current fiscal year, up 11.1 percent from the previous year. “Where better to promote Hollywood movies than on Hollywood.TV?” Hasan exclaimed.
Hollywood.TV will leverage its relationships with international film stars and Hollywood to distribute films, TV, music, and games digitally through its website. Hollywood.TV will feature television shows and movies from all over the world that can be downloaded by a viewer on an “on demand” basis. For instance, viewers will pay $2 - $3 and download a full-length feature film, which could be anything from ‘Mission Impossible 3’ to a Bollywood movie.
For the Hollywood.TV investor, two potential exit strategies exist. “We will consider going public in one to three years of operation,” Hasan announced. “An IPO would create liquidity for investors and the funds received by Hollywood.TV would allow the company to further develop its business.”
Given that the entertainment industry expects to maintain its three to six percent annual growth rate, an acquisition of Hollywood.TV or a merger of the company with private or public companies is a second potential exit strategy for the investor. Through such a merger or acquisition of Hollywood.TV, the content, traffic and brand name of Hollywood.TV would bring tremendous value to such Hollywood studios as Universal, Fox, Paramount/DreamWorks, Sony/MGM, and Warner Bros, search engine portals such as Google, Yahoo and AOL as well as major venture capital and investment banking firms.
Recent buyouts of websites by major players with a vested interest in the entertainment industry have been astronomical. YouTube.com, created by two 24-year-olds was purchased by Google on October 9th 2006 for $1.65 billion. Similarly, FaceBook.com website, the brain child of a 22-year-old college dropout, is soon slated to be purchased for $900 million in cash by Yahoo. MySpace.com was founded by a 28 year old failed musician and after only 3 years in operation, Rupert Murdoch, Chairman of News Corporation, bought MySpace.com for $580 million in cash, and 12 months after the purchase, top Silicon Valley analysts are saying MySpace.com could now be worth around $20 Billion. All of these companies had minimal revenue and were all in severe debt, the only thing they had were millions of users.
“There’s a big wave going on, where companies on the Web are being bought out left, right and center,” said Hasan, who built his own media empire over a period of three years with little more than $4,000 out of his own pocket. Sheeraz’s success story has been featured on the largest TV shows in the world, and told in the biggest international newspapers and magazines. After only 18 months of arriving in the US, Fortune Magazine, the world’s premier business magazine, devoted a four-page spread to Sheeraz. His success story was featured alongside the billionaire Google founders, Larry Page and Sergey Brin and the richest man in the world, Microsoft chairman Bill Gates.
“It’s all about getting on the boat before it’s too late. There is no
business in the world today that can make you a billionaire faster than the Internet, and there is no better brand than Hollywood.TV, and investors are lining up to be a part of the next big thing.” said Hasan.
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