Press release from Newsfile Corp
Destiny Media Technologies Launches Clipstream(R) Video Cloud Service - Video News Alert on InvestmentPitch.com
Thursday, December 05, 2013
Destiny Media Technologies Launches Clipstream(R) Video Cloud Service - Video News Alert on InvestmentPitch.com11:12 EST Thursday, December 05, 2013
Vancouver, British Columbia--(Newsfile Corp. - December 5, 2013) - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) has launched its Clipstream® video cloud service. Clipstream will enable any non-technical corporate user to upload videos that will play on all modern browsers, including TVs, tablets, smartphones, ebook readers and computer devices.
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Clipstream offers a number of technical and financial advantages to both corporate users and consumers. By eliminating the need to transcode into multiple video formats and to host multiple versions of the same video file on numerous video content servers, the technology significantly reduces hosting costs.
According to the company, there is no need for player plug-ins, as videos encoded via Clipstream 'just play' in any modern browsers and will reach up to 50% more users than current delivery methods. In addition, videos in the Clipstream format will not expire or need reformatting in the future.
Steve Vestergaard, CEO stated, "We are very excited about the prospects for our Clipstream service to disrupt the $5 billion transcoding and storage industries, and believe we are at the beginning of a significant growth stage for our company."
The company will initially target broad-based content providers, including advertising agencies, marketing professionals and web developers. Users can access the service at www.clipstream.com and www.my.clipstream.com .
Desiny Media's Play MPE product is designed for the music industry, and provides a standardized method to securely and cost effectively distribute pre-release music to radio stations and other music industry professionals.
The shares are trading at US$2.60, and with 50.2 million shares outstanding, the company is capitalized at $130.5 million. For a more information, please visit www.dsny.com , phone Steve Vestergaard at 604-609-7736 or email firstname.lastname@example.org .
In the U.S. the investor relations is handled by Dave Mossberg of Three Part Advisors, who can be reached at 817-310-0051.
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Barry Morgan, CFO