PRESS RELEASE: MyPhotoAlbum Signs Exclusive License Agreement for Polaroid Branded Online Photo Sharing in the North American Market
New www.PolaroidStudio.com service will be launched within the next 30 days.
New York: MyPhotoAlbum Inc. (Symbol "FCT") as signed an exclusive licensing agreement with PLR IP Holdings, LLC to combine their online photo services technology with the Polaroid brand to launch a web site focused on photo sharing and related merchandising in the North American market under the name"Polaroid Studio".
MyPhotoAlbum (MPA) was chosen as the internet photo sharing partner due to their proven technology, existing significant user base and knowledge of the North American online photography market. MPA estimates that, with the recognition and appeal of the Polaroid brand, they are positioned to capture a meaningful share of the estimated $1Billion in annual revenues for photo sharing and related merchandise market in North America. The new web site, www.PolaroidStudio.com, will be an integral part of the Polaroid on-line experience and will be at the heart of the Polaroid photo ecosystem. Polaroid Studio will be accessible from and will be prominently featured on the core Polaroid.com website.
Peter Macnee, President and CEO of MyPhotoAlbum stated, "This agreement can be transformational for our company. Our proven technology already serves over 1,000,000 users and leveraging the power and network of the Polaroid brand will drive millions of new users to the new www.PolaroidStudio.com destination. Moreover, with one of the world's most recognized brands it will help drive usage and revenues through consumer confidence the Polaroid brand has established over many decades. We have a unique opportunity to participate in the growth of Polaroid online to help drive sales in the billions for the brand over the next few years".
The term of the license is for five years with the possibility of renewal for an additional five year term. The license covers North America and can be amended to include key international markets subject to agreement by the parties.
"The Polaroid brand has immense global appeal that translates into almost all major categories," commented Scott W Hardy, President of PLR IP Holdings, LLC. "Our new relationship with MyPhotoAlbum will be an integral part of building the Polaroid brand experience online."
MyPhotoAlbum will be issuing further information as the agreement with Polaroid develops.
MyPhotoAlbum, Inc. is a photo sharing service offering the most extensive features for creating highly-unique, personalized online photo albums and photo keepsakes. By taking the online photo experience beyond ordinary uploading and printing, MyPhotoAlbum makes it easy and fun for everyone to share and store photos within their own distinctive style and personality. MyPhotoAlbum was founded in 2005 and is operated by a creative team passionate about helping people get the most out of their digital photo and video memories. (www.myphotoalbum.com)
Dating back to 1937 Polaroid is one of the most recognized consumer brands in the world. Best known for pioneering polarized lenses and instant photography, the Polaroid brand now extends into flat panel televisions, digital photo frames, digital cameras, an innovative line of digital instant products and more. Polaroid is registered trademark of PLR IP Holdings, LLC. (www.polaroid.com)
(First posted on Wednesday, November 18, 2009 at 23:45 EST)