FORT LAUDERDALE, Fla, Nov. 10, 2020 (GLOBE NEWSWIRE) -- via InvestorWire – The Movie Studio, Inc. (OTC: MVES) (the “Company”) proudly announces a strategic partnership and service agreement with VIVA Entertainment Group, Inc. (OTC: OTTV) to align the mutually beneficial assets and associations of the two publicly traded companies.
The performance covenants between the entities specifically focuses on potential cross advertising between the companies’ over-the-top (OTT) platforms and apps, as well as content licensing, production and distribution services, and associations of current intellectual properties during the term of the agreement.
In addition, the agreement cumulates the companies’ associations, relationships and branding while leveraging the strengths of the principal’s functions to facilitate the production, acquisitions, branding and distribution of the companies’ motion picture content on multiple platforms, including domestic, foreign, video on demand (VOD) and blockchain platforms.
The strategic partnership and joint venture forged between the companies per the performance covenants augments and combines substantial OTT platforms, cross-pollination opportunities and talent associations between the entities and could significantly reduce overlapping capital expenditures.
VIVA Entertainment Group, Inc. is a leading global provider of entertainment and, soon, motion picture content. VIVA delivers premium content on any smart device with a screen. VIVA is a service provider of an OTT system through which television services are delivered using the internet protocol suite over a network, such as the internet. VIVA gives subscribers access to the content they want anywhere, anytime. The now ad-ready system currently has agreements with over five different ad companies, from which the bulk of VIVA’s revenue will come. VIVA is also developing its own TV channels and growing its offerings for the pay-per-view and pay-per-stream markets, from virtual concerts to boxing matches.
Johnny Falcones, founder and CEO of VIVA, is a veteran entertainment businessman and successful entrepreneur, credited for representing Grammy Award-winning superstars in the Latino market. Since selling his record label early in his career to Universal Music, Falcones has self-funded, with the help of some friends in the OTC, VIVA Entertainment Group (aka VIVALiveTV), which is now a world-class OTT platform currently available to subscribers in the marketplace.
Falcones stated, “The timing for growth is perfect. The pandemic has accelerated our business to unprecedented speeds. Teaming up with The Movie Studio brings strength to our business and our models. I couldn't be happier to be in the position we find ourselves in. Our time has finally come.”
“We are extremely excited about the strategic partnership with VIVA Entertainment, and the symbiotic approach that we both see regarding OTT platforms synchronizes with our disruptive motion picture production and distribution ideology, which could translate to substantial accelerated shareholder equity and potential substantial residual value between the companies,” said Gordon Scott Venters, CEO of The Movie Studio.
About the Movie Studio: The Movie Studio, Inc. is a first-mover digital disruptor focused on the independent motion picture content sector. The Company operates as a vertically integrated motion picture production and distribution company and has currently launched its over-the-top (OTT) platform with a blockchain distribution mechanism for foreign licensing of content. The Company is currently completing the launch of its app, with a free content ingestion option via advertiser video on demand (AVOD) and a “Be in Our Movies!” value proposition via subscription video on demand (SVOD), providing multiple revenue streams from the Company’s owned, produced, licensed or aggregated content for worldwide consumption in video on demand, foreign sales, and on various media devices. The Movie Studio, Inc. is disrupting traditional media content delivery systems with its digital business model of motion picture distribution and intends direct-server access of its content with geo-fractured territories for worldwide distribution. The Company was formerly known as Destination Television, Inc. and changed its name to The Movie Studio, Inc. in November 2012. The Movie Studio, Inc. was founded in 1961 and is headquartered in Fort Lauderdale, Florida.
For information about the Company, please visit www.themoviestudio.com
The Movie Studio, Inc.
Gordon Scott Venters
President & Chief Executive Officer
2598 E. Sunrise Blvd. #2104
Ft. Lauderdale, Florida 33304
VIVA Entertainment Inc.
Chief Executive Officer
This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results, specifically in the areas of future sales growth and profitability. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.