ZapMyTV in VOD License Agreement with Paramount Digital Entertainment

--Company Offers Social Broadband Video Service, Currently in Early Beta

ZapMyTV--a company that is developing a "family-friendly" social broadband video portal that it says will broadcast live cable programming via the Internet across multiple social networking platforms and will also provide access to a range of theatrical motion picture content on an a la carte or subscription VOD basis (note: the company's "Interactive Content Environment"--or "ICE"--platform, which is currently in early beta, is slated to launch commercially later this year)--announced Wednesday that it has signed a license agreement with Paramount Digital Entertainment. The company claims that this is the first of several key strategic alliances with entertainment companies that it is set to announce in the near future.

The license agreement is billed as giving ZapMyTV distribution rights to a range of new-release and catalog titles from Paramount, including "The Curious Case of Benjamin Button," "Hotel for Dogs," "Mission Impossible," "Breakfast at Tiffany's" and "Ghost." The titles will be available for rental on a transactional VOD basis, though some titles will also be available on a subscription VOD basis, the company says. "Today's announcement is an exciting one for ZapMyTV," the company's CEO, Steven Turner, said in a prepared statement. "This agreement will allow our customers access to Paramount's vast library of movies and content. We are looking forward to a strong relationship with Paramount Digital Entertainment."

ZapMyTV bills its platform as offering, in addition to transactional and SVOD, a "lower cost, reliable alternative to cable television, wrapped around social networking." It claims that it is the first Web-based platform to offer live, fully licensed television over the Internet. According to the company, the platform also offers picture-in-picture functionality, recording capabilities, Internet search, email, chat, video conferencing and blogging. Last month, it announced a new feature, dubbed "ZapMyTweetV," that will allow users to interact via Twitter while watching programming within its interface, as well as a feature, dubbed "Connect with Friends," that will allow users to invite friends from other social networks into their ZapMyTV social network. Content providers for ZapMyTV's service that have been announced to date include @Sports, Hallmark Channel, Hallmark Movie Channel, HSN, WGN America, CSPAN3, QVC, Jewelry Television, Trinity Broadcasting Network, Starfish Television Network and Pursuit Channel.

North America