NEW YORK, NY — (Marketwired) — 10/30/13 — Infinity Augmented Reality, Inc. (“Infinity Augmented Reality” or “Infinity AR”) (OTCQB: ALSO), the first augmented reality software platform to connect universally with digital eyewear such as Google Glass and Meta, smartphones and tablets, announced today that it is maximizing its revenue potential in the $67 billion music industry by revolutionizing the way entertainment and music are interacted and delivered.
Infinity AR is creating the Virtual Media Center, a future revenue producing product that brings the enjoyment of augmented reality to the masses and that takes entertainment mediums such as music, sporting events, and television and creates a whole new user experience. This is done through a breakthrough platform that provides an extraordinary immersive experience for the user. For example, using her digital eyewear such as Google Glass, smartphone, or tablet, the user can choose to enjoy a Justin Bieber or Carrie Underwood concert. Through Augmented Reality, the experience will feel as if she is at the concert, even though she is still in her living room.
In a recent Forbes article that quoted the statistics from the , the music industry as a whole generated over $67 Billion in 2012. A major contributor to this figure was iTunes that produced $12.9 Billion in revenue in fiscal 2012, and according to a recent article in Fortune, iTunes just in the last quarter alone produced an estimated $4.1 Billion. Infinity AR is certain that just as iTunes has changed the way people enjoy music in the present, so too will Augmented Reality technology revolutionize the music industry in the immediate future.
Infinity AR-s CEO Enon Landenberg stated, “This revolutionary technology takes the music industry to places never imagined. Augmented Reality is the next huge medium and being a company with its foundational roots in this industry creates a multitude of opportunities for us. With its breakthrough software, the Virtual Media center, and the potency and power of digital eye wear such as Google Glass, the potential for generating revenue with Infinity AR is off the charts in the profitable music industry.”
Augmented reality is a medium in which real sensory inputs are enhanced, or augmented, with relevant digital information from the Internet. Using specially equipped eyewear, virtual images, video, and sound are superimposed for the user over what is actually seen and heard, heightening the real-life experience with additional information that is pertinent, informative, practical and entertaining. The individual user may also be fully immersed in a virtual world, temporarily blocking out real surroundings. With augmented reality, sensory inputs are no longer limited to what is within eyeshot or earshot, but may incorporate, in real-time, all that the network has to offer.
Augmented reality requires an interface, such as digitally-enhanced eyewear, that can instantaneously overlay virtual images and video on top of what is actually experienced. Companies like Google and Lumus are in the process of developing augmented reality glasses that will change the way users see and interact with the world. Infinity AR will utilize its augmented reality applications through these glasses and through other mobile devices including smart phones. As the individual changes his or her visual perspective the sights that are overlaid change accordingly. The eyewear incorporates audio speakers that add virtual sounds to the experience, as well as microphones that capture and interpret the user-s spoken commands through speech recognition technology in order to summon desired information and actions. Further information on the Company is available at its website, .
Some statements in this release may be “forward-looking statements” for the purposes of the Private Securities Litigation Reform Act of 1995. In some cases forward-looking statements can be identified by words such as “believe,” “expect,” “anticipate,” “plan,” “potential,” “continue” or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors, risks and uncertainties are discussed in our public filings with the Securities and Exchange Commission. Readers are urged to carefully review and consider the various disclosures made by us in our reports filed with the Securities and Exchange Commission, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward looking statements.
Contact:
Enon Landenberg
President and Chief Executive Officer
(212) 201-4070
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