VOY has partnered with Cherry Road Films, a Los Angeles-based financing and production company, to co-develop and co-produce a number of films. VOY Pictures has assembled an initial slate of projects and talent for 2004 that represent some of the finest writers, producers, directors and actors. With a population of more than 40 million, Hispanics are now the leading minority and fastest growing group in the United States. The swelling growth segment within this demographic is the "New Generation" -- the acculturated second/third generation -- a population that is predominantly English- speaking, upwardly mobile, and closely identifies with both mainstream and Latin culture. By 2006, Hispanics will comprise 14% of the U.S. population. While first-generation Hispanics are most comfortable speaking Spanish in home, social and business environments, the preferred use of Spanish is diluted in second and third generations. Sixty-five percent of second- generation Hispanics designated English as the language they had the "most comfort" in speaking; in third-generation Hispanics, this number increased to 70.1%. The nation's Hispanic population represents more than $600 billion of buying power. Over the next five years, it is estimated to grow to over $1 trillion. Latinos account for 15 percent of North American motion picture box office sales, according to the MPAA. In September, VOY announced the publication of its first book, "Life in Action," in partnership with Tarcher/Penguin, slated for an April 2004 release. An inspiring story of optimism and self-empowerment, the book will be available in U.S. stores early April 2004. VOY will offer consumers a continuing series of both non-fiction and fiction titles that will also be developed into films for the VOY Pictures division. VOY Pictures, LLC, is the film and television division of VOY, LLC ( www.voygroup.com ), a privately funded lifestyle and entertainment company focused on the English-speaking Latin market. Through a suite of VOY-branded products and services including film, music, publishing and television production divisions, as well as a cable television network scheduled to launch in late 2004, the company focuses on entertainment that reflects Latino sensibilities and crossover appeal. VOY has offices in New York, Los Angeles, Mexico City and Buenos Aires. John Sloss and Robert Nathan of Cinetic Media, Inc., a New York-based consultancy providing corporate strategic advisory services to media companies, are outside consultants to VOY Pictures. VOY Pictures' film business is represented by Jeff Berg and Eddie Borges of the Hollywood talent agency International Creative Management, Inc. (ICM).
