MIAMI BEACH, FL, April 23, 2013 /PRNewswire/ - Rangemore Film Productions Corp. ("Rangemore") (formerly Auctions International Inc.)(OTCPINK:AUCI) today announces the management of Rangemore has identified the Asian film industry as being poised for exponential growth and as a result will be committing a significant portion of their marketing budget to this emerging market.
China is now number two after the U.S. in box office revenues and generated approximately $2.7 billion in 2012, a 30.2% increase over 2011. With an average of 9 new screens opening every day, China's film-exhibition business is growing at a rate that is unparalleled in the history of the movie industry. Since 2002, when there were fewer than 1,300 theaters in China, the industry has grown tenfold. Even with 13,000 theaters, 1 for every 220,000 people, China's film industry remains relatively unsaturated. In the United States, there is 1 screen for every 9,000 people. At this rate, China could top the U.S. film market by 2020.
"Lost in Thailand", a Chinese comedy, was released on December 12, 2012 and has already grossed more than US$200 million at the Asian box offices. It is on the path to be one of the highest grossing films ever released. This is another indication of the strength of the Asian film industry. The management of Rangemore wants to capitalize on this growth and realizes that to get a foot hold in the Asian markets you have to develop relationships with key individuals who hold influence. In February of this year, Andrew McLaughlin, CEO of Rangemore attended a high profile Chinese cultural event at the Kennedy Centre in Washington, DC. During the post performance reception, Mr. McLaughlin took the opportunity to network with some of these key individuals and a number of opportunities were discussed including a potential joint venture between Rangemore and the producers of the event.
"I can't emphasize how important developing personal relationships will be in growing our business in Asia and attending this cultural performance was a chance to get face-to-face with some of the key players within the Chinese film industry" commented Mr. McLaughlin "A large part of our marketing efforts will be focused in Asia and by attending events like these, we will be able to meet these influential individuals and establish relationships which will be key to our success. As a result of our representation at this event, a number of opportunities presented themselves and one in particular looks very promising" continued Mr. McLaughlin.
Drawing on this success, Rangemore is planning on having representation at the following events:
- June 15-23: Shanghai Film Festival (Shanghai, China)
- October 7-10: Busan Asian Film Market (Busan, South Korea)
- October 11-21: Hawaii International Film Festival/EuroCinema Hawaii
- October 22-24: TIFFON (Tokyo, Japan)
- December 10-12: CineAsia (Hong Kong, China)
About Rangemore Film Productions Corp. (Formerly Auctions International
Rangemore Film Productions Corp. (formerly Auctions International Inc.) is a publicly traded company who operates a film studio on the Isle of Man known as Island Studios. Island Studios is a complete film production facility located two miles outside the town of Ramsey and is approximately 7 acres in size and houses a film studio, sound studio, make-up studio, dressing rooms, canteen and dormitory, administration offices, and storage facility. Along with the studio operations, Rangemore will be actively investing in and producing independent film productions.
Rangemore Film Productions Corp. is a Development Stage Company, as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended business activities.
Forward Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See Auctions International Inc's filings with OTCMarkets which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
SOURCE Rangemore Film Productions Corp.