Italy Licensing and Distribution Agreement
Forbidden Technologies plc has reached agreement with Mediaconcept Srl, a company established by TechExperts Srl and Business Design Srl to promote and develop Forbidden Technologies' new generation of online and mobile video streaming products in the Italian market.
Mediaconcept has licensed Forbidden's FORmobile video system for mobile phones and FORadvertisers system for web distribution of TV commercials. Mediaconcept will use FORmobile to build a mobile video content portal, VJ Portal. FORadvertisers will be promoted to major brand owners through the Italian advertising agencies.
Italy is the second largest mobile market in the EU with over 50 million mobile subscribers. The number of mobile data customers in on the increase in Europe. There were approximately 16 million active users of services run over GPRS in Europe at the end of September 2003, a quarterly increase of just under 30%.
Greg Hirst, Business Development Director, Forbidden Technologies said:
"We are pleased that Mediaconcept has chosen our products as the basis on which to launch VJPortal and their offer to advertisers. The Italian market is already an enthusiastic consumer of high quality data services, particularly on mobile phones, and we look forward to supporting Mediaconcept in this dynamic growth market."
Paolo Rossi, Managing Director, Mediaconcept added:
"Using Forbidden's high quality compressed video products will allow us to launch VJPortal in the shortest possible time with a range of exciting, high quality video material. Italian viewers are quick to adopt new sources of entertainment and information and we are convinced that they will rapidly become enthusiastic consumers of mobile video."