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Regency Resources Adds Tapwater Entertainment Catalogue to Growing OTT Internet TV LibraryAgreement Brings Over 1500 Hours of Broadcast Quality Content (April 30, 2012)
LOS ANGELES, CA -- (Marketwire) -- 04/30/12 -- Regency Resources, Inc. (OTCBB: RSRS) ("Regency" the "Company" d.b.a. "Digidev"), a development stage company aiming to offer an in-depth portfolio of content for the fast growing Internet TV sector, is pleased to announce today entry into an agreement with film and television producers Tapwater Entertainment in order to acquire rights to an extensive niche library of video content now slated for licensed "OTT" internet distribution.
The Tapwater library contains well over one thousand five hundred hours of quality programming from the world of sports to the offbeat and weird assembled over a number of years aided by the efforts of Regency President Joe Q. Bretz. Mr. Bretz states, "When I first became involved with Tapwater, I felt they were way ahead of their time with this type of 'short form' programming, and I feel the material is perfect and the timing excellent, as one of our primary goals is to propel content online as quickly as possible in order to bolster our proof-of-concept trials. The Tapwater Channel will continue to be developed as we move forward, as it gives us an excellent performance baseline to build from."
In related news, the Company is pleased to advise it is currently in late stage negotiations with a world-famous writer, actor, director, comedian and an acknowledged and highly successful early adopter of internet media who, upon finalization of a definitive agreement, would bring an impressive library of work containing thousands of hours of programming complete with an audience of millions of loyal fans worldwide offering the potential to rapidly ramp up and launch a global licensing opportunity offering considerable marketing potential.
Martin W. Greenwald, CEO of Regency, comments, "We are thrilled by the momentum that is building around us. We are very pleased to add the Tapwater library and look forward to unearthing some real gems from it. Regarding our latest pending celebrity agreement, it's the nature of the business to name no names until the ink is dry, but we are thrilled by the opportunity and look forward to welcoming what we hope will be our newest member of the team as soon as practical. Needless to say, we are hard at work in our efforts to grow and develop shareholder value in as many ways as we meaningfully can. I can state categorically that it's a real pleasure to be involved with this venture at this particularly revolutionary time in the development of our industry."
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, visit our website at: www.regencyresources.com.
About Regency Resources (OTCBB: RSRS)
Regency Resources is a development stage company. Through a merger with Digitally Distributed Acquisition Corporation ("DDAC") the Company plans to move forward, post-merger, as Digidev Group and seeks to build a media business using proprietary technologies and close industry relationships to develop a broad-based and varied portfolio of content for Internet TV distribution. Regency's business model is to share revenues with the content owners and provide unique monetization methods. According to industry research by iDate this market sector is expected to grow tenfold from its current $400 million in revenues to $4 Billion in 2016. Visit us at www.regencyresources.com.
About OTT ("Over-The-Top') Entertainment Media
"OTT" or Over-The-Top Home Entertainment Media targets DVD players, video game consoles, mobile products and smart TVs with built-in internet connectivity. These devices piggyback on existing network services in consumers' homes, pull content from the Internet and deliver it to consumers' TVs or other display units. It's referred to as "over-the-top" because it rides "on top" of the internet service consumers already pay for.
About Tapwater Entertainment
With offices in Los Angeles and Austin, Texas, Tapwater aims to develop, produce and distribute state-of-the-art television programming and feature films, utilizing distinctive locations and experienced professionals bringing expertise to regional projects and a dynamic international approach dedicated to encouraging the expansion of international film and television production.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, reference to new technologies, software and sales methods as well as financial projections for the size of the internet TV market. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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