Indianapolis Motor Speedway to Feature Video Image Insertion Technology by Princeton Video Image in National Telecast of Brickyard 400; Live Telecast on ABC, Saturday, August 7
6 August 1999
Indianapolis Motor Speedway to Feature Video Image Insertion Technology by Princeton Video Image in National Telecast of Brickyard 400; Live Telecast on ABC, Saturday, August 7LAWRENCEVILLE, N.J.--Aug 6, 1999--Indianapolis Motor Speedway (IMS) announced it will use virtual imaging technology provided by Princeton Video Image, Inc. www.pvi-inc.com, the leader in virtual imaging solutions for television, during the live telecast of the Brickyard 400 on Saturday, August 7 at the Indianapolis Motor Speedway. The race will be televised nationally on ABC at 1:00 PM ET.
The Brickyard 400, a 400 mile 160 lap race, is race number 20 of the 34 race NASCAR Winston Cup Series and is one of the most prestigious events on the NASCAR circuit. IMS has hosted the Brickyard 400 since 1994.
Using its proprietary image insertion technology, PVI will insert graphic images into the telecast which will appear as part of the live race scene.
"This agreement with IMS is another example of the popularity of video imaging, particularly amongst repeat users. This is the second consecutive year we have worked with the Indianapolis Motor Speedway and we are delighted to be a part of this important NASCAR event and to have the opportunity to further demonstrate the depth of PVI technology," said Dennis Wilkinson, PVI President and Chief Executive Officer.
"Last year we utilized PVI as part of the Brickyard 400 telecast on ABC and it was extremely successful. This year we expect an even larger return for our sponsors with the PVI technology. In the future, everyone will be looking at utilizing this technology. We're leading the way and that's exactly where we want to be...in the lead," said Buddy McAtee, Director of Sales Indianapolis Motor Speedway Corporation.
"The Indianapolis Motor Speedway has always been and will always be on the cutting edge of technology. We feel we should lead the way off the track as well as on the track. The Indianapolis Motor Speedway is home of the Indianapolis 500, the Brickyard 400 and in 2000 the U.S. Grand Prix. Our goal is `World Leadership in Motorsports Entertainment' and PVI is helping to accomplish that fact," McAtee added.
Princeton Video Image, Inc. has developed and is marketing a real-time video insertion system that, through patented pattern recognition technology, places computer-generated electronic images into television broadcasts of sporting events as well as other programming. These electronic images range from simple corporate names and logos to sophisticated 3-D images and animated effects. PVI has provided video insertion services for nearly 1,000 live telecasts worldwide, including broadcasts of Major League Baseball, National League Football, professional soccer, motorsports, and other live events. The Company is headquartered in Lawrenceville, New Jersey, with offices in New York City and Brussels, with licensees' offices in Mexico City and Johannesburg.
Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, those relating to market acceptance, dependence on strategic partners and third party sales, contractual restraints on use of PVI's technology, a rapidly changing commercial and technological environment, competition, possible adverse regulations, need for additional financing, intellectual property rights and litigation, and other risks identified in PVI's filings with the Securities and Exchange Commission. Actual results, events or performance may differ materially. PVI undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.