- Sixty-nine percent of U.S. households now subscribe to streaming video services, up from 55% in 2017, leading to higher demand for high-quality content
- Wonderfilm already has 13 feature films and other content products lined up to meet this constant and growing demand
- Company expects to generate $100 million in revenue by 2021, $20 million in deferred revenue early next year
- Global entertainment and media consumer spending to increase at CAGR of 4.4% over the next five years, industry’s global revenue to reach US$2.4 trillion in 2022
Wonderfilm Media Corporation (TSX.V: WNDR) (OTCQB: WDRFF), a leading entertainment company producing internationally appealing, high-quality feature films and episodic television, is working on quality theatrical releases and entertainment content to meet the fast-growing global demand for content caused by the unprecedented expansion of streaming services.
The entertainment industry is going through a golden era of streaming, with demand from major players such as Netflix, Amazon, Disney and Apple being at an unprecedented high as they continue growing their customer base to the detriment of traditional cable television (http://nnw.fm/P7gSO).
According to Colling Media, almost a fifth of respondents in a survey stated they had canceled cable television, while 39% of consumers subscribed to streaming services between June and July 2019 (http://nnw.fm/Bx6RN). Colling Media CEO Brian Colling compares the choice of streaming entertainment services over cable to that of cell phones over home phones. “Mobile, on-demand, and customized choices triumph every time,” Colling says.
Deloitte analysts report that for the first time in history, a higher percentage of U.S. households subscribed to a digital streaming service than to traditional pay television. 69% of U.S. households now subscribe to streaming video services, up from 55% in 2017 (http://nnw.fm/BUTp9), and PwC research indicates that consumers are willing to spend more to get the content they want, with total global spending on entertainment and media expected to grow at a CAGR of 4.4% over the next five years to reach $2.4 trillion in global revenue by 2022 (http://nnw.fm/Q8rP8).
Consumers’ willingness to spend more on the content they want is an excellent opportunity for companies like The Wonderfilm Media Corporation. To meet this constant and growing demand for content worldwide, the company retains a continuing annual production slate of $58 million and currently has 13 films in or going into production, six of which are scheduled to be delivered in the first quarter of 2020. Eight feature films greenlit for shooting that represent $60 million in production budgets include films such as Amityville 1974, in theatres October 2020, and the action film Inside Game with Tyrese Gibson, in theatres in the fall of 2020. The company is also currently developing secured valuable IP rights, including the Steve McQueen Story and the book adaptation, Merchant of Death.
Wonderfilm makes money from producing fees that are added to the production budget and from overages above the presale threshold. Wonderfilm owns the films after their sale terms end. The company also profits from unsold presale territories, which are countries or territories left off of a film’s presale list.
With offices in Los Angeles and Vancouver, Wonderfilm brings a number of key industry executives with well-established track records of individual success into a new wider business model able to quickly finance and flexibly produce fresh slates of film and television content for US and foreign markets. The company expects $20 million in deferred revenue in early 2020 alone and is positioned to realize $100 million in revenue by 2021.
For more information, visit the company’s website at www.Wonderfilm.com
NOTE TO INVESTORS: The latest news and updates relating to WDRFF are available in the company’s newsroom at http://nnw.fm/WDRFF
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.
