USA: ValueVision and wine.com to Launch 'The Best of Wine Show'
In addition to being aired on the television network, "The Best of Wine Show" will be an interactive event, appearing on both ValueVision's converged television and Internet channels. Future shows will also be simulcast on wine.com's own web site.
Cary Deacon, president of marketing of ValueVision, said: "Last December, our pilot wine show, called "The wine.com Grape Stomp," marked the first time wine was sold on television. It was also a first in the convergence of live TV programming with transactional web technology. Because this event of converged TV/Internet channels proved so successful, it not only resulted in a more meaningful shopping experience using a contemporary transaction and e-commerce approach, but also led to a new approach of improved network programming content. We're looking forward to another great wine show, and an opportunity to maximize wine.com's brand name as well as generate new leads and live transactions for them under the SnapTV shopping umbrella."
Bill Newlands, chief executive officer of wine.com, said: "Our television show with ValueVision in late 1999 marked a first in bringing both great wines and great wine information to viewers. The positive response from the audience confirmed that we were on the right track. It's a pleasure to bring engaging wine conversation as well as great wines straight into the homes of wine lovers."
The show will be hosted by Peter Granoff, Master Sommelier and proprietor of wine.com, and ValueVision veteran Joleen Benoit. Viewers will be able to order single bottles, sample packs, or gift packs of wine from a variety of domestic and international vintners via toll free phone (800-884-2212) or by accessing http://www.vvtv.com and http://www.wine.com. Free shipping on orders of $30 or more.
About ValueVision International
ValueVision International, Inc. owns and operates the third largest and fastest growing home shopping network and a companion Internet shopping web site. Both are being rebranded as SnapTV and snaptv.com, respectively, as part of a wide-ranging direct e-commerce strategy the Company is pursuing with NBC Internet, Inc. (Nasdaq: NBCI - news). The moves are expected to position SnapTV and NBCi as the leaders in the ongoing convergence of television and the Internet, combining the promotional and selling power of television with the purely digital world of e-commerce. ValueVision, which is approximately 36% owned by GE Equity and NBC, offers live programming 24 hours a day, 365 days a year. As of January 31, 2000, approximately 33 million homes are able to receive the Company's programming on either a full- or part-time basis. Additionally, the programming appears live on the Company's web site via webcasting. ValueVision also holds a 12.5% equity stake in Ralph Lauren Media, a new and separate company that will bring the Polo Ralph Lauren American lifestyle experience to consumers. For more information about ValueVision, please see the Company's web site at http://www.vvtv.com.
Founded in 1994, wine.com was the first wine merchant on the Web and a pioneer in electronic commerce. The company's portal site, http://www.wine.com, offers an ever-growing selection of wines from around the world and wine-related gifts and accessories to customers worldwide. The company makes wine buying easy and fun with detailed wine information, its proprietary wine tasting chart and expert advice from its professional wine team, which includes two Master Sommeliers and a Master of Wine. Each wine offered on the site is tasted and selected by wine.com's experts and is 100% guaranteed. The "Featured Wineries" area of the site highlights exclusive wines from such leading wine brands as Niebaum-Coppola, Kendall-Jackson, Sterling Vineyards, and Domaine Chandon. Wine.com is able to ship wine through a legally compliant network of wholesalers and retailers to more than 90% of the United States, as well as Asia and Europe. Wine.com is privately held and headquartered in Napa with an office in Fremont, Calif.
ValueVision International Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this news release contains statements that are forward-looking such as statements relating to increased revenue and cable home distribution, the Company's future profitability, entrance into e-commerce, the launching of the Company's Internet initiative, snaptv.com, the timing of the SnapTV launch, the success of the Ralph Lauren Media joint venture, and the continuing success in developing new strategic alliances (including the GE Equity, NBC, and Ralph Lauren Media alliances). There are certain important factors, such as consumer spending and debt levels, interest rates, competitive pressure on sales and pricing, and the maintenance of distribution of the Company's programming that could cause results to differ materially from those forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including the possibility that revenues and cable distribution will not continually increase, that gross profit margins will decrease, that e-commerce and the Company's rebranding to SnapTV will not be successful, the successful performance of our equity investments, and other strategic alliances (including the GE Equity, NBC, and Ralph Lauren Media) may not result in increased revenues, earnings, or subscribers. For more information on the potential factors that could affect the Company's financial results, investors should refer to the Company's recent filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K.
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