Press release: 1994-12-07: CPTV ANNOUNCES NEW COMMERCIAL CONTRACTS FOR CELLULOID; STRONG INITIAL SALES FOR "CAGEY CAPERS" VIDEO GAME
From Sega Retro
|This is an unaltered copy of a press release, for use as a primary source on Sega Retro. Please do not edit the contents below.|
Language: English third-party
Original source: The Free Library
DENVER, Dec. 7 /PRNewswire/ -- Creative Programming and Technology Ventures, Inc. (Nasdaq: CPTV), reported that its Celluloid Studios subsidiary, a rapidly growing producer of live action and animated television commercials, has entered into two new commercial contracts with advertising agencies. The company also reported strong initial sales for the "Cagey Capers" video game developed by its Alexandria, Inc. subsidiary. Celluloid's first contract is with GSDM Advertising of Austin, Texas, to produce a live action/special effects commercial. The other contract is with Foote, Cone & Belding of Chicago to produce a thirty second animated commercial. The combined value of these contracts is approximately $288,000, bringing the cumulative gross revenues for the first quarter of fiscal 1995 ending November 30, 1994 to approximately $1,989,000. These preliminary Celluloid results are up approximately 190 percent compared with revenues of $678,000 for the same quarter a year ago. CPTV President Gary R. Vickers, said, "Celluloid's aggressive sales and marketing efforts, started in late fiscal 1994, are paying off nicely. With improved margins, we anticipate our animation and TV programming division to report a profitable first quarter." 60,000 "Cagey Capers" Units Sold in September CPTV reported that the "Cagey Capers" video game sold more than 60,000 units in September, its first month on the market, according to sales reports from Time-Warner and TecMagik, a co-publisher. Compared to other products in their first month of sales, "Cagey Capers" is now the second best-selling product in Time-Warner's history. The game is currently the seventh best-selling video game in Europe. "Cagey Capers" is based on the popular Warner Bros. cartoon characters Sylvester and Tweety. The game was produced for Time-Warner Interactive for play on the Sega Genesis video game system. It has received outstanding reviews from video game magazines, including GAME PLAYER (June 1994), GAMEPRO (June 1994), Electronic Games (May 1994) and was also rated a "Best Buy" in GAMEPRO's 1994 Buyer's Guide. Vickers said, "We are very encouraged by the strong results for 'Cagey Capers,' especially in an extremely competitive video game market. Our goal is to deliver exciting, superior quality video games to consumers, and these results, coupled with the highly favorable game reviews, demonstrates that we are on target." Alexandria has also updated projections for when its publishing clients plan shipment of three games developed by Alexandria. "Izzy" (U.S. Gold), which is based on the 1996 Olympics mascot; "Demolition Man" (Virgin Interactive Entertainment) and "Dinoblaze" (Virgin Interactive) are expected to ship to retailers in the first quarter of 1995. Vickers said, "These projected releases were strategically delayed by the publishers to avoid getting lost in the expected glut of video games at Christmas time. By releasing these games in early 1995, they believe these games will get stronger acceptance in the marketplace." Creative Programming & Technology Ventures Inc. (CPTV) went public on November 12, 1993, with the purpose of producing and distributing innovative advertising, interactive games, cable programming and digital entertainment. Its Alexandria subsidiary, based in Los Onos, Calif., designs and develops interactive games for popular home video game systems such as Sega Genesis, Sega-CD, Super Nintendo Entertainment System and 3DO. In October 1994, it shipped its first video game, Cagey Capers, (based on the popular Warner Bros. cartoon characters Sylvester and Tweety) to top retailers across the country. Alexandria also plans to develop games for cable television channels, and future home game systems, including Sega's Saturn, Sony's PS-X and Nintendo's Project Reality. Celluloid Studios, 80 percent owned by CPTV, has produced more than 100 television commercials using live action and animation. Celluloid is based in Denver. CPTV's primary shareholders and founders include Gary R. Vickers, Gary Magness and Kim Magness, all from Denver. CPTV is headquartered in Denver and its stock trades on NASDAQ Small-Cap market under the symbol CPTV. -0- 12/7/94 /CONTACT: Gary Vickers - President and Chairman, of CPTV, 303-595-3152; Michael Sotak, 312-266-7800, or Michelle Marin, 212-661-8030, both of The Financial Relations Board/ (CPTV) CO: Creative Programming and Technology Ventures, Inc. ST: Colorado IN: CPR ENT SU: CON BM -- CL013 -- 3278 12/07/94 12:54 EST COPYRIGHT 1994 PR Newswire Association LLC No portion of this article can be reproduced without the express written permission from the copyright holder. Copyright 1994 Gale, Cengage Learning. All rights reserved.