Rockford Fosgate Announces Licensing Agreements with Universal Studios Consumer Products Group
Tempe, Ariz. - Rockford Corporation (NASDAQ: ROFO) has announced that it has signed a licensing agreement with Universal Studios Consumer Products Group that will allow Rockford to use Universal trademarks relating to the hit movie, The Fast and the Furious, and Universal Pictures’ upcoming sequel The Fast and the Furious 2, in connection with selected Rockford Fosgate and Lightning Audio products. Rockford will be announcing specific products in the coming months. In addition, Rockford Fosgate and Lightning Audio products will be featured in The Fast and the Furious 2, scheduled for release in Summer 2003. Specific terms of the agreements are confidential. Rockford believes, however, that the agreements create significant potential for brand-enhancement and cross-promotion.
Gary Suttle, Rockford’s president and chief executive officer, says, “We’re pleased to have been selected to participate in the marketing of the upcoming film, The Fast and the Furious 2, which follows the tremendous success of last year’s film. The opportunity for cross promotion and product placement is exciting as these films appeal to our core consumer base for aftermarket car audio products. We believe this is clear validation of the allure and authenticity of our core Rockford brands.” Adds Tim Rothwell, senior vice-president, Universal Studios Consumer Products Group, “Rockford Corporation produces the highest quality products in the market. We have partnered with Rockford on this turbo-charged property because we are confident that The Fast and the Furious branded audio products will be appealing to the consumers who have embraced The Fast and the Furious lifestyle.”
In The Fast and the Furious 2, Paul Walker returns as former cop Brian O'Conner, who teams up with his ex-con pal Roman Pearce (Tyrese) to transport a shipment of "dirty" money for shady Miami-based import-export dealer Carter Verone (Cole Hauser), while actually working with undercover agent Monica Clemente (newcomer Eva Mendes) to bring Verone down. Ludacris, James Remar and Devon Aoki are also in the cast of this new high-adrenaline adventure directed by John Singleton (Boyz N the Hood, Baby Boy) with a whole new line-up of dazzling vehicles ready to burn up the screen. Universal Pictures’ The Fast and the Furious grossed $206 million at the worldwide box-office. In addition to its box office success, the film showed even more muscle during the holiday season as the home video and DVD flew off retailers’ shelves, becoming the number one selling DVD of 2001 with over 5.5 million units* (*per Video Scan) sold to date.
About Rockford Corporation Rockford is a designer, manufacturer and distributor of high-performance audio systems for the mobile, professional, and home theater audio markets. Rockford's mobile audio products are marketed under the Rockford Fosgate, Lightning Audio, MB Quart and Q-Logic brand names. Rockford's professional audio and home theatre products are marketed under the Hafler, Fosgate Audionics and MB Quart brand names.
About Universal Studios Consumer Products Group Universal Studios Consumer Products Group (USCPG) is responsible for global licensing and retail strategies as well as building brand recognition. USCPG is a unit of Universal Pictures, a division of Vivendi UNIVERSAL Entertainment (VUE) (www.universalstudios.com), the U.S.-based film, television and recreation entity of Vivendi Universal, a global media and communications company. The Fast and the Furious and The Fast and the Furious 2 are trademarks and copyrights of Universal Studios. Licensed by Universal Studios Licensing LLLP. All rights reserved. The car and motorcycle action sequences depicted in The Fast and the Furious film are dangerous. All stunts were performed in controlled environments with professionally trained stunt crews on closed roads. No attempts should be made to duplicate any action, driving or car play scenes portrayed therein. A Note to Parents: The Fast and the Furious is rated R and The Fast and the Furious 2 is not yet rated. Consult www.filmratings.com for further information.
This press release includes forward-looking statements about our products and about cross-marketing benefits associated with our agreement with Universal Studios. These forward-looking statements are subject to substantial risks. Rockford does not have creative control over the use of its products by Universal in the upcoming movie and the use of the products may not be as favorable as Rockford expects. The movie itself may not necessarily appeal to all of Rockford’s potential customers audience attendance and box office success cannot be guaranteed. Because of these and other risks, Rockford may not achieve the benefits it expects from its agreements with Universal. In addition, Rockford’s ability to exploit the benefits of the agreements may be affected by other risks and uncertainties, including the risks involved in Rockford's business disclosed in Rockford’s filings with the Securities and Exchange Commission. For a more detailed discussion of the risks Rockford faces, please refer to the risk factors and cautionary statements identified in Rockford’s filings with the SEC, including specifically the risk factors identified in exhibit 99.1 to Rockford’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2001, filed with the SEC on March 29, 2002. The risk factors noted above, the risk factors discussed in Rockford’s SEC filings, and other factors that we do not currently anticipate, may cause Rockford’s actual results to differ significantly from those anticipated in Rockford’s forward-looking statements.
About Rockford Fosgate
Setting the standard for excellence in the audio industry, Rockford Corporation markets high-performance audio systems under the brand Rockford Fosgate® for the mobile, motorsport, and marine audio aftermarket and OEM market. Headquartered in Tempe, Ariz., Rockford Corporation is a wholly owned subsidiary of Patrick Industries, Inc. (NASDAQ: PATK).