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JumpTV Update
The Company Comments on Recent Performance and Addresses Shareholder Inquiries
TORONTO, June 22, 2007 – JumpTV Inc. (AIM, TSX: JTV), the world's leading broadcaster of ethnic television over the Internet, has received inquiries from shareholders and interested investors about the Company’s performance in light of the recent volatility of its stock price.
In response to these inquiries JumpTV chairman and chief executive officer, G. Scott Paterson notes, “We are delighted with the progress we are making in connection with our two-prong revenue strategy of free-to-consumer, ad-supported channels in the United States and the continuation of subscription-supported channels everywhere else in the world.”
“We successfully launched our free-to-consumer, ad-supported content offering in the U.S. in conjunction with partnerships with AOL Video and Terra Networks earlier this month. As of today, we have approximately 60 channels available on AOL Video, 30 on Terra US and 100 on www.JumpTV.com offered on a free-to-consumer basis in the United States.”
The Company reports that as a result of these partnerships and the launch of free channels on www.JumpTV.com, minutes viewed and stream views have increased significantly since prior to the launch in May 2007. Successful examples include TNH (Haiti), Aaj TV (Pakistan) and Abu Dhabi TV (Pan Arab) that have had growth of 742%, 640% and 547%, respectively, in minutes watched on an average daily basis in the first 3 weeks of June compared to April 2007. The Company believes that this high level of viewer engagement will result in material ad impressions and clearly indicates that users are responding to the new free content and social network offerings.
As previously announced, the Company launched instant chat in May 2007 and is pleased to report that already there are in excess of 20,000 messages hosted per day alongside its live TV streams.
“We continue to add fresh content,” commented JumpTV president and chief operating officer, Kaleil Isaza Tuzman, “while pursuing premium sports content and movie libraries.”
He continued, “As previously communicated to shareholders, we have been reducing operating costs, and the free-to-consumer, distribution-oriented model in the U.S. has allowed us to cut costs in areas like online marketing.”
The Company knows of no material information that would lead investors to make negative conclusions. The Company reiterates that it continues to pursue an acquisition-augmented growth strategy and is currently evaluating several potential acquisition opportunities in this context.
JUMPTV PR / IR Contact:
Lewis Goldberg
KCSA Worldwide
+1-212-896-1216
lgoldberg@kcsa.com
NOMAD:
Canaccord Adams
Chris Bowman
T: +44 (0) 20 7050 6500
Chris.Bowman@CanaccordAdams.com
About JumpTV
Live Television From Around the World -- online, anytime, anywhere.
JumpTV (AIM, TSX: JTV) is the world's leading distributor of live Internet television. With over 290 TV channels from 75+ countries, JumpTV delivers full-screen news, sports and entertainment content on a real-time basis from all corners of the globe to computers, Internet-enabled TV sets, IP set-top-boxes and cell phones with browser access.
Forward-Looking Statements
This news release contains forward-looking statements that involve significant risk, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward looking statements. These forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances. Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance and achievements that may be expressed or implied by such forward looking statements, including: general economic and market segment conditions, competitor activity, product capability and acceptance, international risk and currency exchange rates and technology changes. More detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the “Risk Assessment” section included in the Company’s MD&A in respect of the year ended December 31, 2006 posted on www.sedar.com.
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