Industry Vet Joins Nantech Advisors
NanoTech Entertainment Welcomes Entertainment Industry Veteran Tom Cosgrove to Content Advisory Board
By Miles Weston
President and CEO of Sony, IMAX, and Discovery Communications Joint Venture to Provide Strategic Counsel for NanoTech Entertainment
NanoTech Entertainment (OTCPINK: NTEK), a pioneer in bringing the 4K Ultra HD experience to consumers, announced today that Tom Cosgrove, an entertainment industry veteran and pioneer in digital UHD production, has joined NanoTech's Content Advisory Board. Leveraging his extensive content and brand experience, Cosgrove will advise NanoTech in several key areas.
Cosgrove, president and CEO of the Sony, IMAX, and Discovery Communications 3net joint venture, has been instrumental in dramatically increasing the services' audience reach. In just two years, 3net programming became available to more than 40 million U.S. households across five program distribution affiliates, including DIRECTV, Comcast, Service Electric Cablevision and Netflix. In addition, he has spearheaded numerous global programming partnerships with top-tier international platform providers and production companies, and most recently, has led the joint venture's foray into original, digital 4K content production and distribution. Cosgrove also serves as the Chairman of the International 3D and Advanced Imaging Society.
Prior to leading the joint venture, Cosgrove served as Executive Vice President and Chief Operating Officer for Discovery Channel. Before that, Cosgrove served as General Manager of Science Channel, where he initiated a global rebranding of the channel and had direct oversight of network programming, development, production and marketing as well as business and brand strategy. He joined Discovery Communications as Senior Vice President of Programming for several of the company's most visible channel brands.
Previously, Cosgrove served as General Manager for TV Guide Channel, where he had direct oversight of content and brand strategy. Cosgrove also held senior management positions at ABC Family, Fox Family, Fox Kids, and Fox Broadcasting, spanning live sports, programming, acquisitions, marketing, research, sales, operations, and affiliate relations. Cosgrove holds an MBA and B.A. from the University of Wisconsin.
Analysts agree that the two factors influencing the success of 4K technology are widespread adoption of 4K UHD TVs and the availability of 4K content. According to presentations made at the recent 2014 SID Business Conference to kick-off Display Week, UHD TV is poised for dramatic growth. IHS Inc. co-sponsored the event under the tutelage of Sr. Director Sweta Dash, who reported that 4K TVs are forecast to sell up to 15M sets in 2014, up from just 3M TVs in 2013. That's moving from 1% to 6% TV market share this year (2014.) IHS reported the category is expected to grow in 2015 to 36M, then 49M, 60M, 69M UHD sets by the end of the forecast period in 2018.
"These are exciting times for 4K UHD technology and NanoTech is building a dynamic programming network featuring a diverse, on-going pipeline of compelling 4K content," said Cosgrove. "Until now, most people thought you needed a lot of bandwidth and storage to deliver high-quality 4K content. 4K video with uninterrupted viewing can now be delivered at under 10Mbps by NanoTech, which makes 4K Ultra HD available to most North American and European internet subscribers today."
"Tom has a tremendous success record in advancing new trends in the entertainment industry and we're very pleased that he has agreed to advise our team, " said Aaron Taylor, EVP of NanoTech Entertainment. "With a world class team of experts on our Content Advisory Board, we have raised the bar in offering continued expansion of the world's largest library of streaming 4K VOD network."
UltraFlix, the world's first dedicated 4K Ultra HD IPTV/OTT network is available now on the Nuvola NP-1, and will be available on a variety of other 4K Ultra HD devices and TV's later this year. With its vast library of pristine 4K Ultra HD content, UltraFlix subscribers will be able to choose from more than 300 hours of sci-fi, action/thriller, comedy, drama and family movies as well as knock-your-socks-off extreme sports videos, concerts, TV shows, special events and moving murals in addition to 100 hours of free content.