Writer's Group Film Corp. Announces Projected Revenues For Acquired Family Product
LOS ANGELES, June 3, 2013 /PRNewswire/ -- Writers' Group Film Corp. (OTCQB: WRIT) and its wholly-owned subsidiary Front Row Networks, Inc., a Los Angeles-based production and distribution company, announced its projected revenue estimates for its acquired family feature "BRAZIL IN 3D." Recently Writers' Group acquired English-language rights to this 3D family feature, produced with both animation and live action. The Company is actively pursuing other finished family entertainment product that is being offered in the marketplace, and that fits within its new strategic initiatives.
In order to distribute "BRAZIL IN 3D" in the licensed territory, the Company must first incur the time and expense of dubbing the entire film. In this case, "dubbing" refers to the substitution of the voices of the actors shown on the screen speaking Portuguese, by those of different performers speaking in English language. In addition, other expenses include the creation or conversion of marketing materials into English language. The Company estimates this process will take 60-90 days.
"Through our various distribution arrangements, Writers' Group is well positioned to distribute this project via the following distribution windows: theatrical, television, home video, video-on-demand, mobile applications and online streaming. We believe the story line of "BRAZIL IN 3D" also lends itself to educational and travel-related content channels and we intend to leverage these avenues," said Eric Mitchell, President of Writers' Group.
With these various distribution windows in mind, the Company estimates, based on third party sales projections and current circumstances in the industry, that the project will generate $500,000 in net revenues from TV and other sales in the 4th quarter of 2013, and then continue to generate revenues over the next 3-5 years from the sales generated by the video-on-demand and mobile platforms. Additionally, the project was acquired with the intent of Management to purchase and/or co-produce additional 3D animated and live family content that would supplement and enhance the revenues of "BRAZIL IN 3D" and in essence create a series of family and travel related content.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the Company's latest 10-Q filed February 14, 2013. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE Writers' Group Film Corp.