The MRCGroup Research Institute has acquired Studio 11 Productions with proprietary multimedia platforms and a video player that provide entry into the online travel, entertainment ticketing and room booking industries.
Re-branded as MRCStudio11, the company features both COLTS (Custom On-Line Ticketing System) and COLRRS (Custom On-Line Room Registration System.), both up and operational.
?gThis acquisition is a logical extension of the MRCGroup`s presence in the media and entertainment industries and our involvement with Internet-based initiatives,?h said James T. Medick, CEO of the Las Vegas-based market research firm.The MRC Group`s core business is audience testing of movie trailers, television commercials, pilot shows and promotional spots via the Internet.
Medick pointed out that market analyst Jupiter Communications reported recent annual online travel industry revenues in excess of $18 billion, while the Bear Sterns Companies, Inc. predicts 2002 online room booking sales will exceed $3.1 billion, accounting for 25% of the overall Internet travel industry.