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VRX Worldwide Inc. (VRW) |
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CEOCFO Current
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VRX Studios elevates online content to
a new level, providing innovative online sales and marketing tools to the global travel
and hospitality industries VRX Worldwide Inc. (TSX-V:VRW),
through its wholly owned subsidiary VRX Studios Inc., provides online sales and marketing
tools to the burgeoning online travel and hospitality industries. The online travel
industry in the United States generated US$27 billion in sales in 2002, a 45% increase
over 2001 making it one of the largest and fastest growing online sectors. VRX’s
innovative and profitable business is based upon three core offerings: Content Licensing,
Custom Content Solutions and High Bandwidth Hosting. “As
in all industries there are technology providers and service providers; we’re a
little bit of both, Mr. David S. MacLaren, president and CEO of VRX Worldwide
offers when asked about VRX’ competitive edge. “We
customize third-party software to enable us to deliver the highest quality and best
performing content technically possible. This is our competitive advantage and allows us
leapfrog ahead of the market by focusing on the end product. In order to provide the best
quality and best performing content, our efforts go well beyond the technology and the
photography behind our products; it is everything that we do from shooting, to stitching,
to editing, to delivery that gives us our full competitive advantage. We have spent the
past three years perfecting our processes and the technology. We feel confident that these
efforts have created significant barriers to entry for any future competitors.”
In fact, there is virtually no competition today. “The
niche that we have made for ourselves over the past three years - providing high quality,
user-friendly, low bandwidth online sales and marketing tools – has no direct
competitors at the moment,” states Mr. MacLaren.
As to how VRX reaches potential customers, Mr. MacLaren tells
us, “Through partners and directly. For our licensing product,
we work with partners such as USDM.net to promote our licensing products to tourism
boards and travel agencies both in the US and aboard. On the custom content side, maybe
10% of what we do is sold directly. The remainder is sold through partners such as Expedia
and Virgin Holidays. Both companies provide us direct access to hospitality companies
around the world – both large and small. In North America and the Caribbean we have
an exclusive marketing arrangement with Expedia.” Mr. MacLaren explains
the opportunity for potential investors, “I think the
first thing investors need to look at is the rapid growth within the online travel market.
Second, they need to watch the explosion of content that we’re seeing in all online
sectors but especially in online travel. And third, they need to compare VRX’s
content to all others. VRX, due to our partnerships with some of the leading travel
companies in the world and the quality of our products, is positioned to benefit from the
rapid growth and emerging trends of the online travel industry. As a result, combined with
our solid financial position, we feel VRX offers a tremendous opportunity for investors,
especially at the current price.” Content Licensing - VRX
owns and operates the largest archive of travel related interactive visual content in the
world. This content helps travel companies sell their products and services to the
rapidly increasing number of online travel consumers. From a target market of
hundreds of thousands of online travel companies, VRX currently licenses its content to
industry leaders such as Expedia, AAA, Carnival Cruise Lines, Virgin Holidays, Tourism
Hawaii, Mexico, and New York, Dollar Rent a Car, Cendant, and Southwest Airlines
Vacations. Licensing clients pay VRX a recurring licensing fee based on the amount
of content they use and the amount of traffic their website receives.
Custom Content Solutions
- Building upon the success of its Content Licensing division, VRX created an Interactive
Services Division to offer Custom Content Solutions to the hospitality and tourism
marketing industries Each of VRX’s custom content solutions is exclusively crafted to
meet the individual client’s marketing and sales objectives. VRX provides
custom content solutions to some of the best-known travel and hospitality companies in the
world including Sandals, Disney, Hilton, Hyatt, Carnival, Princess, Intrawest, and
Expedia.
High Bandwidth Content Hosting and Syndication - Levering off its Content Licensing infrastructure that was designed to host and syndicate VRX’s extensive library of interactive destination content, VRX launched two new service offerings targeted at the online travel industry and its existing Licensing and Custom Content Solutions clients. These two new services are High Bandwidth Content Hosting and Online Content Syndication and ensure that VRX’s content is delivered flawlessly and in a timely and user-friendly manner to travel consumers around the world.
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