BEIJING, July 11 /Xinhua-PRNewswire/ -- K's Media (OTC Bulletin Board: KVME), a publicly traded company specializing in media and advertising, announced that as of today, the Company's consolidated affiliated entity, Beijing K's Media Advertising Ltd. Co., has contracted with 249 Karaoke Television (KTV) lounges, amounting to a total of 9,298 screens across China.
Company reports indicate that about 76% of the KTVs contracted with are located in major metropolitan cities including: Beijing, Shanghai, Shenzhen and Guangzhou. To date, video on demand (VOD) systems and remote advertising placement monitoring and management systems have been installed in the contracted KTVs. It is anticipated that the remaining KTVs will be installed throughout July.
''I'm very proud that K's Media was able to install over 9,000 screens in just a few months. Our unique product should further strengthen our position as a provider of an effective and highly influential form of new media. As the luxury market in China is growing rapidly, I'm confident that our nontraditional business model that involves placing advertisements in KTV lounges will continue to garner more attention and acceptance by the ad viewers'', stated Jake Wei, CFO of the Company.
About the Company:
On January 18, 2008, the Company completed a Share Exchange Agreement with Orient Come Holdings Ltd and Beijing K's Media Advertising Ltd. Co., which transitioned the Company from mineral exploration to media and advertising.
K's Media targets premium brand advertisers by placing their commercials in KTV lounges in China. Attempts to reach high-end consumers through traditional advertising channels with powerful and visually appealing presentations can be costly and inefficient. K's Media believes that placing ads in KTV lounges is both innovative and unique and could prove to be one of the most effective methods available. KTV lounges are popular in Asia, providing private rooms with karaoke systems. Consumers go to these lounges as a group for entertainment or business purposes. K's Media believes that advertising on KTV screens offers a more impressive and influential way to target high-end consumers than traditional advertising.
Recent Developments:
-- Launched new offices in China's major cities such as: Beijing, Shanghai, Guangzhou and Shenzhen.
-- Raised US $1,280,000 to implement an advertising placement project.
Forward-looking statements:
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; changes and developments in the Chinese and North American markets as well as changes in regulatory matters; our business strategies and future operation plans; market acceptance and volume of sales of our products and services; our historical losses; the competitive environment in the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
For more information, please contact:
K's Media
Jake Wei
Tel: +1-888-685-3791
Email: investor@mediaks.cn
Website: http://www.mediaks.cn
SOURCE K's Media
International News / Press Release source: PR Newswire
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