CLIPSALESNOW.COM SELECTS VIRAGE TO POWER NEW COMPREHENSIVE ONLINE VIDEO LIBRARY
Clipsalesnow.com Eases Research Process for Producers, Boosts Video Value for Content Owners
SAN MATEO, Calif - Jan. 24, 2001 - Virage, Inc. [NASDAQ: VRGE], a leading provider of software and services that enable video for strategic online applications, today announced that Clipsalesnow.com has selected the Virage Video Application Platform as the foundation for a major online video library that will provide program makers with easy access to a contemporary library resource and offer independent producers and broadcasters the ability to capitalize on their video assets. The new UK venture allows producers and researchers the ability to search, view and immediately purchase video clips online, reducing their research process time from days to minutes and virtually eliminating research costs. The new site will also provide video content providers a way to outsource the sales of their video clips, saving them running costs while maximizing their revenue opportunities.
Virage was selected based on its market leadership and the scalability and flexibility of the platform. "Clipsalesnow.com takes a traditional, ad hoc business and transforms it using the Internet. Our aim is to provide an all-inclusive archive resource at the click of a button and Virage has been instrumental in allowing us to deliver exactly this", commented Mark Leaver, General Manager at Clipsalesnow.com. The Virage platform offers a comprehensive solution that encodes and indexes the videos, customizes the site, and seamlessly integrates the content onto Clipsalesnow.com.
Clipsalesnow.com is scheduled to launch in early February 2001, but has already secured online distribution rights from major production companies and broadcasters such as September Film, Minotaur and ARTV and are currently in discussion with others, including Channel 4. The site will represent clips of all genres, from celebrity interviews and sports material to dramatic reconstruction and wildlife. Analysts have found there is a great demand for a service of this kind in the broadcast industry, in order to both maximize revenue streams from the vast video assets and provide a solution to existing online archive issues.
"Like all businesses, it is essential to exploit every opportunity available to maximize revenue potential. Clipsalesnow.com will open the door for content owners, allowing them to tap into a previously restricted revenue stream by representing their archive assets in the global marketplace." said Sally Miles, Managing Director at clipsalesnow.com.
About Clipsalesnow.com
Clipsalesnow.com is a new concept in footage research, bringing the strengths of the internet to a currently traditional business. We provide an international platform for the representation of clips of all genres, signing exclusive online representation deals with independent producers and broadcasters who up to now have had neither the time nor the resources to exploit their archive footage. By allowing immediate search, view and purchase of previously inaccessible material clipsalesnow.com can cut the research process from days to minutes. Clipsalesnow.com is a stand-alone start-up based out of the offices of September Films, an independent production company and the main investor in Clipsales Ltd.
About Virage, Inc.
Headquartered in San Mateo, California, Virage is the leading provider of solutions that enable video for strategic online applications. The Virage Video Application Platform transforms video into an effective online medium that is easy to publish, manage and distribute on the Internet or corporate intranets. The Virage platform provides content owners with the complete infrastructure for seamlessly integrating streaming video into business, entertainment and information applications. From ABC to Yahoo! over 200 customers across a broad range of markets have turned to Virage to help them improve production efficiencies and create new revenue opportunities with video. Contact Virage at http://www.virage.com/ or (650) 573-3210.
This press release contains "forward looking" statements about the products and services of Virage and Clipsalesnow.com, as that term is used in Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are denoted by such words as "will allow", "will create""will use", "will serve" and similar terms and phrases. These types of statements address matters that are subject to risks and uncertainties which could cause actual results to differ materially. In addition, our forward-looking statements should be considered in the context of other risk factors discussed in our filings with the Securities and Exchange Commission, including our Registration Statement on Form S-1, as amended, available online at www.sec.gov. All forward looking statements are based on information available to the company on the date hereof, and the company assumes no obligation to update such statements.
Virage, VideoLogger and the Virage logo are registered trademarks and, Internet Video Guide, Virage Application Server and SmartEncode are trademarks of Virage, Inc. Other company product and service names may be trademarks or service marks of others, and are hereby acknowledged.
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