InterVU Inc. said it plans to launch a video and rich media publishing system in response to increasing market demand.
The publishing system, now targeted for October 1998, will be designed to increase the adoption rate of the InterVU Network, thereby moving InterVU closer to its goal of becoming the de facto standard for Internet video and rich media delivery, the company said.
InterVU said it will deliver tools designed to automate the publishing of video content to the InterVU Network, lower publishing costs and provide new publishing capabilities. Previously anticipated for mid-1999 release, InterVU said it accelerated the development and launch schedule in response to market demand.
“In addition to increasing the value of InterVU’s services to our existing customer base including Web sites, advertisers and cable/TV networks, we believe that more ISPs, Web developers, video producers, and corporate users of online business-to-business solutions will use the InterVU Network based on its new features,” said Harry Gruber, chairman and CEO. “We anticipate releasing our new service offerings beginning in October 1998.”
“This strategic decision will accelerate spending which had been planned for the first half of 1999,” said Kenneth Ruggiero, chief financial officer. He added, “The spending will occur over the final two quarters of 1998; funds will be invested in the engineering and sales efforts required to build and market these advanced InterVU Network solutions.”
InterVU is working on the development of these tools and systems with various customers including NBC, Intel and Microsoft.
“NBC and InterVU have jointly created state-of-the-art video publishing tools for VideoSeeker, which is poised to become the leading video community on the Internet,” said Todd Harris, director of creative development for NBC Interactive. “We are pleased that InterVU will be including some of the same technologies in its new publishing system. . . ”
InterVU offers Internet video solutions to major ISPs, cable/TV networks, Web sites, advertisers and advertising agencies, including the V-Banner (video advertising banner) .
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