OBN launches online venture

Company teams with iStream Planet

OBN Holdings is set to launch a film-oriented video site in a joint venture with iStream Planet.

Web site Film Hook is a “major step in accomplishing one of our major goals, which is for OBN to integrate entertainment with technology,” said OBN prexy-chief exec Roger Neal Smith.

He said revenue for the first year should be $1.5 million and will increase as other services and activities are incorporated into the site.

Film Hook, which goes online the first week in February, will feature a wide variety of independent and vintage feature films and television series.

Once viewers become members of the site, which is free, they can select and watch content free of charge, and participate in all community and social networking features including rating and commenting on content, blogging and social networking with other members, said Smith. Content can also be downloaded for a nominal fee, and can be viewed on computers, the Microsoft X-Box, and on portable players.

OBN Holdings is a publicly traded company with units involved in television production and music recording. IStream Planet, an online technical services company, is known for being the world’s first company to deliver a live, secured pay-per-view broadcast over the Internet in April of 2003.