Data Shows the Global Movies & Entertainment Market is Set to Grow
FinancialBuzz.com News Commentary
NEW YORK, September 6, 2018 /PRNewswire/ --
Data compiled by Grand View Research suggests that the global movies & entertainment market size is expected to reach USD 114.93 Billion by 2025. Introduction of new marketing and distribution, as well as the increasing popularity of 3D movies, is anticipated to drive the market growth. Change in the lifestyle of people in emerging markets is expected to increase people's spending on entertainment, while enhanced communication and distribution channels help people gain better access to entertainment products. Increasing penetration of TV and Internet in developing countries has also encouraged easier access to the audience. The Wonderfilm Media Corporation (OTC: WDRFF), The Walt Disney Company (NYSE: DIS), Comcast Corporation (NASDAQ: CMCSA), Roku, Inc. (NASDAQ: ROKU), CBS Corporation (NYSE: CBS)
The movies sector has the largest market share in 2016, accounting for 56% of total revenue. Innovation in the production of movies and release of 4D motion pictures had fueled the growth in the mature market. The report indicated that: "Over decades movies have become a significant part of most cultures across the world. Prominent place of cinema in people's life has made its primary means of entertainment in most countries. However, developments in technology leading to digitalization in all the fields have significantly influenced the industry. Cost reduction & acceleration in production, improved quality, and better storage solutions revolutionized the entire movie industry. Right from the making of movies to their delivery to the audiences has changed drastically over the decades."
The Wonderfilm Media Corporation (OTC: WDRFF) is also listed on the TSX Venture Exchange under the ticker symbol (TSX-V: WNDR). Yesterday, the Company announced, "the acquisition of the bestselling book, "Merchant of Death," written by Pulitzer Prize winner Stephen Braun and Douglas Farah. This acclaimed page-turner discloses the incredible real-life story of infamous international Russian arms dealer, Viktor Bout. To develop this new high-profile series, Wonderfilm has partnered with Anthony Zuiker, creator of the CSI franchise and Jason Hervey through the new company, Zentraoquist LLC, along with Craig Piligian from Pilgrim Studios, a Lionsgate company (NYSE: LGF.A).
Emmy Award winning producer/executive and one of the four founding producers of Wonderfilm, Jeff Bowler, has packaged "Merchant of Death" and will be serving as Executive Producer, alongside his Wonderfilm partners, Bret Saxon, Kirk Shaw and Dan Grodnik. "Merchant of Death" also marks the return of Anthony Zuiker as he joins his first new series since he created and produced CSI, which ran on CBS from October 6, 2000 to September 27, 2015 and spanned 15 seasons with multiple franchise additions. Jason Hervey, a previous executive producer for World Championship Wrestling (WCW) and Total Nonstop Action Wrestling (TNA), alongside many other reality TV shows, is included in the impressive production team alongside Craig Piligian, who as Executive Producer, is best known for creating "The Ultimate Fighter", "American Chopper" and "Dirty Jobs", while winning an Emmy Award as co-Executive Producer of "Survivor". The production team is rounded out by Joseph Giallombardo and Alexandre Coscas.
'Wonderfilm is thrilled to be working with television legends Jason Hervey, Craig Piligian and Anthony Zuiker on such iconic material,' said Jeff Bowler, Founding Producer of Wonderfilm. "Merchant of Death" has all the hallmarks of a long-standing and era defining TV series and adaptation that the industry is craving. Working with such a talented and successful production team is an honour and a great sign that we have found TV's next epic series, as it has all of the hallmark traits of a major international success. We could not be more excited to bring this fascinating story to the masses in the form of a riveting and suspenseful TV series that quenches viewers thirst for original, emotionally charged content."
Published by John Wiley & Sons, "Merchant of Death" is a gripping, suspenseful and thrilling real-life account of the investigations into one of the world's most notorious arms dealers, Viktor Bout. Some of Victor Bout's exploits were immortalized in the hit 2005 film, "Lord of War" starring Nicolas Cage, Ethan Hawke and Jared Leto. The producers are currently meeting with showrunners, networks and will provide Wonderfilm shareholders with updates as they occur.
About Wonderfilm Media: Wonderfilm is a leading publicly traded (TSX Venture Exchange) entertainment company with offices in Beverly Hills, Vancouver, Canada and Seoul, South Korea. Wonderfilm's main business is the production of high-quality feature films and episodic television that offer international appeal through the Company's guiding philosophy of bringing new financing solutions to an entertainment industry increasingly looking for funding and co-production alternatives. Wonderfilm is a producer and distributor only for the projects disclosed. The legal ownership of movie productions are held in a special purpose legal entity held at arm's length to the Company to facilitate for the qualification of various levels of domestic and foreign government tax credit incentives that are customary in the film and production business."
The Walt Disney Company (NYSE: DIS), together with its subsidiaries, is a diversified worldwide entertainment company with operations in four business segments. Twenty-First Century Fox, Inc. and The Walt Disney Company recently announced that, at separate special meetings, stockholders of the two Companies approved all proposals related to Disney's acquisition of 21st Century Fox. 21st Century Fox is one of the world's leading portfolios of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. The proposals included the adoption by 21st Century Fox stockholders of the merger agreement with Disney and the distribution merger agreement for the spin-off of new "Fox." Disney stockholders approved the issuance of new common stock that will be distributed to 21st Century Fox stockholders as part of the acquisition. "We're incredibly pleased that shareholders of both companies have granted approval for us to move forward, and are confident in our ability to create significant long-term value through this acquisition of Fox's premier assets," said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. "We remain grateful to Rupert Murdoch and to the rest of the 21st Century Fox board for entrusting us with the future of these extraordinary businesses, and look forward to welcoming 21st Century Fox's stellar talent to Disney and ultimately integrating our businesses to provide consumers around the world with more appealing content and entertainment options."
Comcast Corporation (NASDAQ: CMCSA) creates incredible technology and entertainment that connects millions of people to the moments and experiences that matter most. Comcast and ESPN recently announced the launch of ESPN3, ACC Network Extra and SEC Network + on Xfinity X1, giving sports fans the ability to stream over the Internet, directly on their television, expansive coverage of college football with over 150 live games, and more than 5,000 live events annually, including international soccer, Grand Slam tennis matches, college basketball, other collegiate athletics and more. All content from across the three networks will be searchable with Comcast's award-winning X1 voice remote and integrated into the same screens and menus as the other sports programming that comes with a customer's Xfinity TV subscription. "Simplicity continues to be essential in today's dynamic media landscape," said Sean Breen, Senior Vice President, Affiliate Sales, Disney and ESPN Media Networks. "We're fortunate to have relationships with Comcast to seamlessly serve customers and sports fans on a platform that delivers the best of both traditional and digital video viewing experiences, and the addition of ESPN3, ACC Network Extra and SEC Network + are perfect examples of that."
Roku, Inc. (NASDAQ: ROKU) connects users to the streaming content they love, enable content publishers to build and monetize large audiences, and provide advertisers with unique capabilities to engage consumers. Roku, Inc. recently announced the addition of live and linear news content and new discovery features to The Roku Channel, an ad-supported streaming channel on the Roku® platform specifically dedicated to giving customers free access to top films and more. The Roku Channel is the OTT launch destination for ABC News Live, a new 24/7 live and linear news stream from anchor partner, ABC News. In addition, Roku customers will be able to access live and linear news feeds from premium news partners such as Cheddar, People TV and others. The Roku Channel is now a top #15 channel on the Roku platform as well as the #3 ad-supported channel. It continues to have, on average, approximately half the advertising per programming hour as compared to traditional ad-supported linear TV. "We built The Roku Channel so it's easy to navigate, offers great content and brings real value to our customers," said Rob Holmes, Vice President of Programming, Roku. "Today, we're working with some of the industry's most forward-looking news organizations such as ABC News, Cheddar, People TV, and others, to deliver yet another customer-requested feature to The Roku Channel - live and linear news. ABC News has been at the forefront of producing and delivering live news for OTT viewing and we're excited to have them on-board as one of our anchor news partners."
CBS Corporation (NYSE: CBS) is a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world. CBS Television Stations and CBS Interactive recently announced plans to launch CBSN Local, a portfolio of 24/7 direct-to-consumer services that will stream anchored news coverage and live breaking news events from major markets served by CBS stations that are owned by CBS Corporation. CBSN Local will build on the success of CBSN, the pioneering 24/7 streaming news service from CBS News and CBS Interactive that delivers live national and global news coverage and in-depth reporting from CBS News' team of trusted journalists. "CBSN Local is the exciting next chapter in how our stations will serve audiences seeking local news on all of the most popular content consumption platforms," said Peter Dunn, President, CBS Television Stations. "These streaming local news services will be a terrific companion to the award-winning national and global news reporting provided by CBSN. Working together, we look forward to making the outstanding local news coverage produced by our stations available to a wider audience, anytime and anywhere people want to view it."
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