SexQube.TV, a wholly owned subsidiary of Petel Inc., is headed to the Pink Sheets over-the-counter exchange.
Petel—whose U.K. operations include mobile phone media, e-commerce, hosting, and adult entertainment—purchased SexQube.TV as a wholly owned subsidiary earlier in the year after recognizing the potential offered by the rapidly emerging broadband media arena. Petel forecasts turnover in excess of $500,000 in the first quarter, with a target of $4.5 million in total revenue by the end of the fourth quarter.
The company based many of its projections on market reports indicating the adult industry represents massive global revenues, with some estimations reaching as high as $57 billion annually and online searches for adult entertainment composing 25 percent of all search engine requests—or 68 million searches each day. Adult websites also enjoy the fastest-growing online spending, with an average of $310 per person per year, growing at 48 percent each year. SexQube.TV is targeting 11.2 million broadband-enabled homes in the U.K., with 27 percent of those customers already using broadband TV. A Nielsen//NetRatings survey in February 2006 reported 9.1 million men and 1.5 million women (growing at 14 percent annually) used adult websites in the U.K. during the past year.
Established by a former Sky TV creative director and National Geographic executive in partnership with an ex-Penthouse UK managing director and Television X new-media director, Petel is a technology-led media company intent on capitalizing on multiple revenue streams, according to company literature. Petel's move brings along 53,000 existing customers.
SexQube.TV is the world's first free-to-air, adult broadband TV channel, with regularly produced entertainment and interactive, revenue-generating content. Additionally, the channel offers subscription and video-on-demand products, giving monthly and pay-per-view access to R18 content, on demand, across all genres.
SexQube.TV said its users' experiences are enhanced by a safe, secure, and discreet environment—coupled with a wide range of interactive features. Community interaction includes dating, member newsletters, video chat, and personal spaces. Premium-rate interactive services include adult chat, webcams, and picture/video subscriptions. The property also includes an online adult store, which offers instant purchase via "red button" interactivity.
Petel's recent acquisition sits alongside existing divisions TottyMob and Brit Porn Productions.
