"They're trying to beat out this movie, the Ring, which is a similar idea. Our movie is about a website you visit and die in three days. Their movie is about a videotape you watch - and die in three days"

This quote is referring to a contrast in between 2 films. The very first film is the one Stephen Dorff is associated with, which is about a website that somebody sees and dies in 3 days. The second motion picture is the Ring, which is a comparable concept however instead of a site, it has to do with a video that somebody watches and dies in 3 days. This comparison indicates that the 2 movies have similar concepts, but the distinction lies in the medium used to provide the story. Stephen Dorff's movie is about a website, while the Ring has to do with a video. This quote is likely describing the competitors in between the 2 films, as they are both trying to beat each other out in the box office.