Peach Entertainment Network Files Chapter 7 - GoFuckYourself.com

Barefootsies · 10-16-2009, 04:03 PM

Quote:

VAN NUYS, Calif. ? Peach Entertainment Network, operator of PeachDVD, has filed Chapter 7 bankruptcy protection, XBIZ has learned.

The Van Nuys, Calif.-based company over the past seven years has offered hundreds of best-selling soft erotic videos and instantly became a blue-chip brand when it launched.

Offering the ?world?s most beautiful women filmed the way men wish to see them seductive, sultry and sensuous,? the company was co-founded by Jim Monroe and its current CEO, David James, who helped Steven Hirsch launch Vivid in 1984.

Today, James continues as a Vivid co-CEO.

Peach, according to the filing, was seeing dwindling DVD sales in the past few years. DVD sales have amounted to only $290,000 this year, after banner years in 2007 and 2008, when Peach saw revenue gravitate to $2.4 million and $1.8 million, respectively.

Peach Entertainment Network comprises a variety of divisions, including Peach DVD, PeachDVD.com, Red Static, Late Night and Red Dragon Releasing. The company formerly was known as David Distribution Inc.

In the Chapter 7 filing, Peach said that it was $1.8 million in debt and had $466,000 worth of assets, including video masters worth $114,000 and $203,000 of inventory.

Its largest creditor is James, who stated he lent the company more than $1.7 million in recent years.

Other creditors include Ingram Entertainment, L&M Optical Disc West, Orbitland Interactive and CAV Distribution Corp.

In the filing, the company disclosed revenue-sharing video-on-demand deals with Trans Digital Media, Aggregator, Diamond Video of Spain and Virtual Video Systems, among others.

It also had a deal in place with mobile distributor WAAT Media, marketing mobile services, including wallpapers, ringtones and video downloads.

When it launched in 2002, the company rolled out numerous videos with the "peach" somehow applied to the titles, including ?Search for the Ripe Peach,? ?Pretty Peaches,? ?Search for the Right Peach? and ?Teenage Peach Fuzz.?

The company at one time marketed its Peach Girls ? including former adult stars Roxanne Dawn, Alexa Rae and Angel Cassidy, as well as the late Felicia Tang ? and oftentimes searched out new models at clubs with $1,000 first prizes.

In 2003, the company embarked on a 10-city Peach tour looking for a Peach Girl, with stops in Boston, Chicago, Miami, New York, Austin, Milwaukee, Phoenix and Hawaii.

Calls to James and company sales executive Tal McAbian for comment weren?t returned to XBIZ by post time.

http://www.xbiz.com/news/113819

kristin · 10-16-2009, 04:07 PM

Dang, it's not an easy time for the DVD companies. They only had three VOD deals?

With DVD you have to make sure you are using it in EVERY capacity - retail, distributors, broadcasting, licensing, VOD, etc.

AsianDivaGirlsWebDude · 10-16-2009, 04:10 PM

I blame the Tubes...

ADG

woj · 10-16-2009, 04:22 PM

Quote:

Originally Posted by AsianDivaGirlsWebDude

I blame the Tubes...

ADG

PastorSinAlot · 10-16-2009, 04:37 PM

people broke. wake the fuck up. If payless is closing shops, do you think going to pay 24 bucks for some porn. People in the hood dont even go to walmart and pay 14 teen, you go to Leeroy on compton blvd or the artesia blue line station and get you two movies for $5 bucks. The middle class is fucking broke!!!!

fatfoo · 10-16-2009, 05:18 PM

Bankrupcy protection for PeachDVD. Yeah, sucks for them.

jay23 · 10-16-2009, 05:43 PM

"Peach, according to the filing, was seeing dwindling DVD sales in the past few years. DVD sales have amounted to only $290,000 this year, after banner years in 2007 and 2008, when Peach saw revenue gravitate to $2.4 million and $1.8 million, respectively"

That is a massive drop but they are not alone, their are a lot of DVD out fits that are seeing drops like this.

Iron Fist · 10-16-2009, 10:56 PM

I don't blame the tubes... I blame no foresight and traveling around the world blowing cash on "finding girls". No sympathy here... this is what you get when you act like a baller and the recession hits.

Loch · 10-16-2009, 11:04 PM

OK, im sorry to say this but if the figure of 290k includes all of the revenue sources such as dvd, vod etc etc etc
IF its all included they honestly had no idea what they were doing....seriously
I still know 3-4 man companies doing better then that with less.

Redrob · 10-16-2009, 11:28 PM

They were the top of the soft game at one time. Now there is no "soft game" left.
I really liked the Player line that they had at one time....really good softcore.
Good luck to all involved.

10-16-2009, 04:07 PM	#2
kristin GOO! Industry Role: Join Date: Sep 2002 Location: Back Home : ) Posts: 9,768	Dang, it's not an easy time for the DVD companies. They only had three VOD deals? With DVD you have to make sure you are using it in EVERY capacity - retail, distributors, broadcasting, licensing, VOD, etc. __________________ Vacares rules. "Usually only fat guys have the kind of knowledge and ability that Kristin has."

10-16-2009, 04:10 PM	#3
AsianDivaGirlsWebDude Purveyor, Fine Asian Porn Industry Role: Join Date: Jul 2004 Location: San Francisco Bay Area Posts: 38,323	I blame the Tubes... ADG __________________ Asian Diva Girls - Exclusive Photos and Videos Asian Diva Girls Affiliate Program (50% ccBill Revshare)

10-16-2009, 05:18 PM	#6
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	Bankrupcy protection for PeachDVD. Yeah, sucks for them. __________________ Send me an email: [email protected]

10-16-2009, 10:56 PM	#8
Iron Fist Too lazy to set a custom title Join Date: Dec 2006 Posts: 23,400	I don't blame the tubes... I blame no foresight and traveling around the world blowing cash on "finding girls". No sympathy here... this is what you get when you act like a baller and the recession hits. __________________ i like waffles

10-16-2009, 11:04 PM	#9
Loch Confirmed User Industry Role: Join Date: Feb 2002 Location: Canada Posts: 7,674	OK, im sorry to say this but if the figure of 290k includes all of the revenue sources such as dvd, vod etc etc etc IF its all included they honestly had no idea what they were doing....seriously I still know 3-4 man companies doing better then that with less. __________________ Contact us for Beta store access (4000 HD/SD productions) - Editing - Encoding/Post production ICQ - 277 862 930 E-mail casper /@/ cool-content.com

10-16-2009, 04:37 PM	#5
PastorSinAlot So Fucking Banned Industry Role: Join Date: Jun 2007 Location: Compton Posts: 2,837	people broke. wake the fuck up. If payless is closing shops, do you think going to pay 24 bucks for some porn. People in the hood dont even go to walmart and pay 14 teen, you go to Leeroy on compton blvd or the artesia blue line station and get you two movies for $5 bucks. The middle class is fucking broke!!!!

10-16-2009, 05:43 PM	#7
jay23 Confirmed User Join Date: Jun 2003 Posts: 1,444	"Peach, according to the filing, was seeing dwindling DVD sales in the past few years. DVD sales have amounted to only $290,000 this year, after banner years in 2007 and 2008, when Peach saw revenue gravitate to $2.4 million and $1.8 million, respectively" That is a massive drop but they are not alone, their are a lot of DVD out fits that are seeing drops like this.

10-16-2009, 11:28 PM	#10
Redrob Confirmed User Industry Role: Join Date: Oct 2004 Location: In a refrigerator box by the tracks. Posts: 4,790	They were the top of the soft game at one time. Now there is no "soft game" left. I really liked the Player line that they had at one time....really good softcore. Good luck to all involved.