FORT LAUDERDALE, Fla., April 09, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – The Movie Studio Inc. (OTC: MVES) (the “Company”), a vertically integrated motion picture production company, today announces it has executed a memorandum of understanding (MOU) to acquire BINGE Networks, LLC. Both parties are conducting due diligence and in the near future seek to complete their transaction and enter into a Letter of Intent (LOI).
BINGE Networks (www.bingenetworks.tv) is an award-winning streaming media platform, recipient of the Most Innovative Media Content Monetizing & Streaming Platform CV-Magazine-USA 2019 and New York 2019 Award Programing. The BINGE App is built into over 100 smart TV networks, providing the ability to globally and instantly syndicate and monetize content through key strategic partnerships throughout the streaming media industry. The company offers five core revenue streams: streaming packages, subscription video on demand (SVOD), advertiser video on demand (AVOD), transactional video on demand (TVOD) and platform syndication.
BINGE Networks’ operations and assets are synergistic to The Movie Studio’s growth-by-acquisition business model, in which the Company aims to secure a leading market position based on ad streaming measurements and big data analytic trends vying for uptick viewership.
With the fast-growing OTT industry projecting revenues of U.S. $78.2 billion by 2023, BINGE Networks has the potential to help The Movie Studio achieve its goal, leveraging the Company’s ability to provide streamers a competitive edge by offering a single hub that enables multiple ways for content creators to earn revenues and establish relationships with many different networks.
BINGE Networks distributes entertainment content for AVOD digital delivery on over 100 OTT platforms. Major revenue distribution partners are Roku TV, Tiki Live, Video Elephant, Glewd TV, Daily Motion, Endavo, Apple TV, Google Play Store, Amazon Fire and Android App Store, among others.
The company’s streaming media platforms are Roku, Apple and Amazon apps, which are combined with strategic partners to bring BINGE TV content to over 100 smart TV networks. Its content library contains approximately 15,000 videos and 300 indie films and powers 46 apps on Roku and 77 on Amazon Fire. New ones are added almost daily on Amazon Fire and 125 live channels that comprise the video library.
Using a defined marketing strategy, The Movie Studio intends to vertically integrate the assets and infrastructure of BINGE Networks with the Company’s current OTT and app for dissemination of The Movie Studio content and cross-pollination of the advertisers and strategic partners.
The Movie Studio is establishing its own OTT VOD platform to integrate its own, as well as aggregated, feature film projects, television programming and other media intellectual properties.
Ongoing streaming wars are allowing small competitors like The Movie Studio to capitalize on creatively designed digital business models. The Company actively implements a “growth-by-acquisition” strategy that calls for significant purchases, resolution upgrades and remonetizing initiatives. For more information, view The MVES Video Corporate Overview 2020 at http://ibn.fm/JtEre.
About The Movie Studio Inc.
The Movie Studio, Inc. (OTC: MVES) is a vertically integrated motion picture production and distribution Company with completed motion picture and production assets. The Company acquires, develops, produces and distributes independent motion picture content for worldwide consumption for Video on Demand (VOD), foreign sales and its own over-the-top OTT platform through various media devices. For more information, visit www.TheMovieStudio.com.
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management's intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will" and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company's actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company's forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company's future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company's future revenues or results of operations.