NanoTech Entertainment is engaged in all facets of the entertainment industry, operating through five technology businesses that encompass 3D, gaming, media & IPTV, mobile apps, and manufacturing. The company's strategy to success is finding potential in specific technology segments with room for future growth, and according to analytical firm iDate, the IPTV market offers just that.
iDate recently projected an increase in global video and TV revenues to $648 billion in 2017 from revenues of $526 billion last year. The firm's research suggests that while cable will continue to have an upper hand in the industry, it will lose subscribers to IPTV providers, which is expected to be used in approximately 8.5 percent of TV households in the next four years.
NTEK's entrance into the emerging IPTV market is through its NanoTech Media unit, which leverages cloud-based servers to enable worldwide optimized delivery of NTEK programming. The business unit is focused on developing a variety of technology and content published on the Roku, Samsung Smart TV, and other TV platforms, with options for smartphones currently in the works.
The business strategy thusfar is paying off. For the quarter ended June 30, 2013, NTEK recorded record quarterly sales of $818,185, beating projections by 10 percent, and posting its turn to profit with net income at $172, 644. Company CEO Jeff Foley in a press release attributed the increase in sales to expansion within the gaming and media industries, and forecasts continued growth as the company executes its plan to increase the number of streaming TV channels it offers.
Director Ted Campbell offered similar sentiment, saying, "We are very optimistic about our future strength as we continue to improve the balance sheet combined with our reduction in share overhead. We believe that we have entered a new phase for NanoTech, strengthening the company and putting it firmly on solid ground."
For more information, visit NanoTechEnt.com
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