CacheVision Ready to Jumpstart Personal Video Recorder Market With Unique Blend of Personal Media Services.
SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 27, 2001
Seagate and Thomson Multimedia Joint Venture Provides
Consumer Electronics Manufacturers and TV Service Operators
Quick and Cost Effective Entry Into PVR While Providing
Enhanced Revenue Opportunities
CacheVision Inc., a joint venture between Seagate Technology and Thomson Multimedia, today announced its entry into the Personal Video Recorder (PVR) market as an OEM supplier of end-to-end hardware and software digital storage platforms to consumer electronics manufacturers and TV service operators. Designed to increase the global adoption of PVR television appliances, the storage-based platforms blend all of today's PVR functionality with the unique capability of adding personal media services into the consumer device. Service operators will have the option to achieve enhanced revenue streams beyond basic PVR by offering subscribers a host of value-added subscriber-based services, including t-commerce services, targeted advertising, virtual video-on-demand, audio jukeboxes, and various advanced entertainment applications.
"Since the introduction of our joint venture last year we have been hard at work perfecting our storage-based platforms for TV service operators and consumer electronics manufacturers," said Richard Johnson, president and CEO of CacheVision. "We enter the market as not just another PVR company, but an enabler of personal media services. With our digital storage technologies, TV service operators will be able to offer multiple entertainment and commerce services to their subscribers through a single platform that will ultimately lead to cost reductions in both network deployment and consumer equipment. The net result will be greater growth in the nascent PVR market with the birth of a new category of television appliances called Personal Media Recorders."
CacheVision aims to offer service operators and consumer electronics manufacturers platforms based on hardware and software turnkey designs that are cost-effective, versatile and field upgradeable. Using open architectures and industry design standards to ensure maximum flexibility and compatibility with existing operator networks and consumer electronics devices, CacheVision's suite of solutions will meet a full spectrum of requirements ranging from a fully self-contained subscriber appliance, integrated component level modules, network software, and appliance software.
"CacheVision's view that plain-vanilla PVR functionality alone will not drive mass market adoption for this promising new technology is on target," said Richard Doherty, research director of the Envisioneering Group, a leading industry analyst firm. "Consumers have already voted by showing PVR purchase hesitancy. Consumers aren't diving into PVRs because they don't yet see the value of PVRs versus their aging sub $100 VCRs. That said, combining PVR capabilities with advanced storage-based television capabilities could be exactly what the market needs to drive enhanced-PVR products into the majority of households."
Offers Cable MSOs Quick Entry Into PVR Market
CacheVision's platforms offers cable operators a quick and cost-effective entry into PVR. The platforms enable immediate incremental revenues and key competitive positioning against alternative programming delivery networks. The fully self-contained subscriber appliance can be deployed with analog or digital networks without network or set-top box upgrades. CacheVision's open architecture design guarantees ROI protection and platform flexibility for upgrading to new value-added subscriber services as they become available without hardware or software obsolescence.
Satellite Operators Have Greater Freedom Of Choice
The same platforms designed to work with cable operator networks are equally adept in working with satellite networks with the same ROI and flexibility. CacheVision's entry into the PVR market offers operators greater choice in vendors, while creating opportunities for satellite operators to leverage the platforms for expanded personal media services.
Consumer Electronics OEMs Shorten Design Cycle
Since CacheVision's platforms are uniquely designed to offer universal appeal to both the cable and satellite operator, consumer electronics manufacturers can reduce time to market through turnkey designs that offer easy device integration. Next generation appliances can be easily equipped with advanced and upgradeable personal media services for greater appeal among network operators and consumers.
Editors' Note: Availability
CacheVision's OEM turnkey PVR solutions will be available starting in late Q3, 2001. Separate announcements will be made as the solutions enter production and as OEM and TV service operators are ready to publicly disclose their selection of CacheVision technologies.
About CacheVision Inc.
CacheVision Inc., based in San Jose, is a joint venture between Seagate Technology and Thomson Multimedia. Formed in July 2000, the company is an OEM supplier and leading innovator of personal media technologies and complete end-to-end solutions for enabling entertainment and commerce for consumer appliances. The company's customers include original equipment manufacturers of consumer electronics and service providers of digital entertainment.
Seagate Technology is the world's leading supplier of hard disk drives to the consumer electronics industry, and Thomson Multimedia is a worldwide leader in digital consumer electronics and the parent of brand names such as RCA and GE.