While Kenjiro Takayanagi, a television broadcasting pioneer, was the vice president of JVC, he decided that his company could make money by developing and selling VTRs in Japan, and at a lower price. In 1959, JVC developed a two-head video tape recorder, and by 1960 they had a color television version for professional broadcasting. In 1964, JVC released the DV220. It would be the company's standard VTR until the mid-1970s.