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25.06.2012
Tangibal subsidiary Ridercam Systems gets approval for Launch at Knotts Berry Farm, California
Tangibal subsidiary Ridercam Systems gets approval for Launch at Knotts Berry Farm, California
London, June 25th 2012. Tangibal Ventures, the investment arm of Tangibal Group Plc, is pleased to announce that the Californian State Department of Occupational Safety and Health – an institution like the German TÜV - has approved the installation of the Ridercam camera systems on the Sidewinder rollercoaster at Knotts Berry Farm, a Cedar Fair Theme Park.
Ridercam Systems Ltd, a subsidiary of Tangibal Ventures, signed an agreement in June 2011 with Qualex Inc, a division of Kodak, the global leading provider of personalised photo souvenirs in Theme Parks, to integrate its video capture system with their park retail solution on a coaster at Knotts Berry Farm (a Cedar Fair park) in California. This is the first cooperation with a retail provider and the first installation in the US which will generate content revenues for the group and there are further parks now in negotiation with Kodak for installations in the US and overseas.
Ridercam's focus is to enable its strategic partner Kodak to record and sell videos that capture the experiences of customers on roller coaster rides. (see video at: www.ridercam.de) Two Ridercam Systems are already installed in Germany at Europa Park and Tripsdrill. These systems have been successfully operating for over three years and were sold to the above parks – therefore Ridercam doesn’t benefit from residual revenue streams from those Parks. The contract with Kodak, however, is based around a revenue share on each movie sold. The key development markets for Ridercam are the US and Asia.
The 2011 Global Attractions Attendance Report from the Themed Entertainment Association (TEA) reported not only a 4.8% growth in global park attendance where 198.1 million people went to the top 25 theme parks alone it also reported that Asia was up 9.4% with attendance of 105.1 million in their top 20 parks.
The long-term strategy of Ridercam Systems is to become the technology provider of platforms that enable the sale of digital video personalised souvenirs to the visitors of theme and amusement parks. Personalised souvenirs account for between 10% and 30% of in-park spending by visitors. The average price for a DVD in a theme park is $15. Combined with increased global attendances, the propensity for people to buy personalized souvenirs represents a potentially significant global business which will result in a constant revenue steam to Tangibal Group.
Following the California State Department of Occupational Safety and Health approval the Ridercam system is now expected to be operating from July 2012.
About Tangibal:
Formed in 2008, Tangibal Group Plc has established itself as a vision leader in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate. See www.tangibal.com for more information.
About Ridercam:
Ridercam is a video-capture system that films people on roller coasters, rides and attractions whereby at the end of the ride people can purchase a DVD or a video download of their experience – like a still photo but video. Take a look at www.ridercam.de
About Qualex Inc – Event Imaging Solutions, a division of Kodak:
KODAK, Qualex Inc Event Imaging Solutions are the global leader in creating imaging services and solutions that deliver once-in-a-lifetime memories at Iconic Destinations, Malls, Theme Parks, Restaurants and Resorts. We leverage the latest of Kodak’s technology to create innovative souvenir products to treasure and share.
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
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London, June 25th 2012. Tangibal Ventures, the investment arm of Tangibal Group Plc, is pleased to announce that the Californian State Department of Occupational Safety and Health – an institution like the German TÜV - has approved the installation of the Ridercam camera systems on the Sidewinder rollercoaster at Knotts Berry Farm, a Cedar Fair Theme Park.
Ridercam Systems Ltd, a subsidiary of Tangibal Ventures, signed an agreement in June 2011 with Qualex Inc, a division of Kodak, the global leading provider of personalised photo souvenirs in Theme Parks, to integrate its video capture system with their park retail solution on a coaster at Knotts Berry Farm (a Cedar Fair park) in California. This is the first cooperation with a retail provider and the first installation in the US which will generate content revenues for the group and there are further parks now in negotiation with Kodak for installations in the US and overseas.
Ridercam's focus is to enable its strategic partner Kodak to record and sell videos that capture the experiences of customers on roller coaster rides. (see video at: www.ridercam.de) Two Ridercam Systems are already installed in Germany at Europa Park and Tripsdrill. These systems have been successfully operating for over three years and were sold to the above parks – therefore Ridercam doesn’t benefit from residual revenue streams from those Parks. The contract with Kodak, however, is based around a revenue share on each movie sold. The key development markets for Ridercam are the US and Asia.
The 2011 Global Attractions Attendance Report from the Themed Entertainment Association (TEA) reported not only a 4.8% growth in global park attendance where 198.1 million people went to the top 25 theme parks alone it also reported that Asia was up 9.4% with attendance of 105.1 million in their top 20 parks.
The long-term strategy of Ridercam Systems is to become the technology provider of platforms that enable the sale of digital video personalised souvenirs to the visitors of theme and amusement parks. Personalised souvenirs account for between 10% and 30% of in-park spending by visitors. The average price for a DVD in a theme park is $15. Combined with increased global attendances, the propensity for people to buy personalized souvenirs represents a potentially significant global business which will result in a constant revenue steam to Tangibal Group.
Following the California State Department of Occupational Safety and Health approval the Ridercam system is now expected to be operating from July 2012.
About Tangibal:
Formed in 2008, Tangibal Group Plc has established itself as a vision leader in interactive media and experiential advertising. Our goal is to deliver solutions that entertain, inform and motivate. See www.tangibal.com for more information.
About Ridercam:
Ridercam is a video-capture system that films people on roller coasters, rides and attractions whereby at the end of the ride people can purchase a DVD or a video download of their experience – like a still photo but video. Take a look at www.ridercam.de
About Qualex Inc – Event Imaging Solutions, a division of Kodak:
KODAK, Qualex Inc Event Imaging Solutions are the global leader in creating imaging services and solutions that deliver once-in-a-lifetime memories at Iconic Destinations, Malls, Theme Parks, Restaurants and Resorts. We leverage the latest of Kodak’s technology to create innovative souvenir products to treasure and share.
Disclaimer:
The information in this press release constitutes "forward-looking information". Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B5KMXN41">http://www.irw-press.com/alert_subscription.php?lang=en&isin=GB00B5KMXN41</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.