Business
LeoNovus Market and Corporate Update
Consumers in the U.S. Continue to Abandon Traditional TV through Cable According to a rece...
About this update from Leonovus Inc.
[{"type":"text","content":"\n\nConsumers in the U.S. Continue to Abandon Traditional TV through Cable\nAccording to a recent Nielson Report, Zero-TV households has more than doubled since 2007\n\n\nSUNNYVALE, Calif., June 4, 2013 /CNW/ - LeoNovus™ Inc., (TSX: LTV) a leading Internet technology developer with its multi-dimensional SMART Media Software Platform™ and SMART Networks™, today announced that according to a recent Nielson report1, the number of \"Zero-TV\" households in the U.S. has grown to more than 5 million. Nielsen defines \"Zero-TV\" households as those that don't fit into its definition of a TV household. It doesn't mean that those households don't have traditional TV sets, but it's just that the majority of them get their content from Internet connected devices. In short, it means they're not paying for cable. One of the most interesting finding is that nearly half of these \"Zero-TV\" households are under the age of 35, marking a clear trend in viewing habits. \nIn studies from Forbes and others, findings suggest that there are a larger segment of American households that are reducing their number of premium channel subscriptions through their cable company in favor of video streaming services offered through Netflix, Cinema Now, Amazon Instant Video, HuluPlus, and others. \nThe consumer should have choices, stated Gordon Campbell, CEO of LeoNovus. The LeoNovus software platform can support OTA (over the air) delivery of linear TV, as well as all video streaming services via its high performance browser, This enables our cable and consumer electronics manufacturer partners to deliver a variety of content to their customers.\"\nLeoNovus believes these reported findings are reflecting the global trend of accessing content on demand through the Internet and that its SMART Media Software Platform can enable the revenue models needed for their businesses. LeoNovus has changed the way high-value Internet content is organized, monetized, and delivered to end users\nCorporate Update\nLeoNovus also announces that on June 4, 2013, it granted a total of 2,210,000 options to purchase common shares of the Company to directors, officers and employees in accordance with the LeoNovus stock option plan. The options expire (5) five years from the date of grant and will vest over a two (2) to four (4) year time frame from the date of g...