Blockbuster and Samsung Sign Agreement to Deliver BLOCKBUSTER(R) OnDemand Services to Select Samsung HDTVs, Home Theater Systems and Blu-ray Players
RIDGEFIELD PARK, N.J., and DALLAS, July 14 /PRNewswire-FirstCall/ – Blockbuster Inc. (NYSE: BBI, BBI.B), a global leader in entertainment, and Samsung Electronics America, Inc., a market leader and award-winning innovator in consumer electronics, today announced they are joining forces to enable consumers to access Blockbuster’s vast and growing library of premium digital entertainment via select new Samsung HDTVs, home theater systems and Blu-ray players. The new services will be available in the fall of 2009 and are expected to provide millions of homes across America access to Blockbuster’s digital library of movies. Additionally, as part of the agreement, Blockbuster OnDemand will have preferred positioning on the Blu-ray interfaces.
The BLOCKBUSTER OnDemand service provides comprehensive on-screen search and browsing capabilities, as well as full details, ratings, trailers, and other information about each movie directly on the television, eliminating the need for customers to manage a viewing queue on their PC. Once a customer rents or buys a movie, they simply press play to begin instant viewing. Blockbuster’s adaptive streaming technology ensures quality viewing with immediate and uninterrupted playback.
“This agreement underscores the growing opportunities around digital delivery and the plan to make the BLOCKBUSTER brand as available on screens as it has always been on storefronts. The Blu-ray players BLOCKBUSTER will feature represent the perfect bridge between physical stores and digital delivery by providing streaming digital access to the newest hit movies and high definition Blu-ray product, which is available in our stores and through BLOCKBUSTER By Mail,” said Jim Keyes, Blockbuster Chairman and CEO. “We look forward to working with Samsung to showcase their select products in Blockbuster stores while making Blockbuster’s digital library available in homes across America.”
“Samsung constantly seeks ways to provide greater value to consumers through innovation and connectivity,” said Tim Baxter, President of Samsung Electronics America. “Our strategic alliance with Blockbuster means that we will provide consumers another significant avenue to access rich content and a great viewing experience.”
The alliance also includes the sale of Samsung Blu-ray players with the integrated BLOCKBUSTER OnDemand service at Blockbuster’s thousands of participating corporate-owned stores and franchise stores and online at blockbuster.com, in addition to Samsung’s existing retail channels.
The companies expect to have the BLOCKBUSTER OnDemand service integrated into new Samsung Blu-ray disc players and HDTVs by the fall of 2009. Consumers who already own select 2009 Samsung Blu-ray players and home theater systems, as well as Samsung LCD and Plasma HDTVs Series 650 and above, and Samsung LED HDTVs Series 7000 and above, can access the BLOCKBUSTER OnDemand offering at no additional charge by conducting a firmware upgrade (Blu-ray players and home theater systems) or downloading the BLOCKBUSTER OnDemand widget (HDTVs).
Blockbuster Inc. (NYSE: BBI – News, BBI.B – News) is a leading global provider of in-home movie and game entertainment, with more than 7,200 stores throughout the Americas, Europe, Asia and Australia. The company may be accessed worldwide at www.blockbuster.com.
About Samsung Electronics America, Inc.
Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), a wholly owned subsidiary of Samsung Electronics Co., Ltd., markets a broad range of award-winning, digital consumer electronics and home appliance products, including HDTVs, home theater systems, MP3 players, digital imaging products, refrigerators and washing machines. A recognized innovation leader in consumer electronics design and technology, Samsung is the HDTV market leader in the U.S. Please visit www.samsung.com for more information.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, the future availability and timing of the Blockbuster ONDEMAND service on select Samsung Consumer Electronics and the availability of select Samsung consumer electronics in Blockbuster Stores. Forward-looking statements generally can be identified by the use of forward- looking terminology such as, “believe,” “expect,” “may,” “will,” “intend,” “estimate,” “continue,” or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the other potential factors described under “Risk Factors” in each company’s public reports filed with the Securities and Exchange Commission. The companies caution you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. Each company disclaims any obligation to update these forward-looking statements.
SOURCE Blockbuster Inc.; Samsung Electronics America, Inc.