LOS ANGELES, May 22, 2013 /PRNewswire/ -- Writers' Group Film Corp. (OTCQB: WRIT) announced today a series of strategic initiatives, which aim to grow the company's revenues by leveraging its distribution platforms in cinema, mobile and online streaming. Among the planned initiatives are acquisition of finished content and a new emphasis on acquiring existing businesses with non-cyclical revenue streams that leverage the company's existing distribution pipeline. These initiatives will begin to roll out in this quarter and the 3rd quarter of 2013.
Eric Mitchell, the president and chief executive officer of Writers' Group Film Corp., said, "We mean to grow our business by launching new products and services based on the unique strengths of our various distribution arrangements, by investing in existing businesses and finished content – finished 3D event films, 3D family content, and video game content are examples – where we see the ability to acquire companies and products with existing revenues with the potential for strong growth."
New acquisitions and content under consideration as part of the strategy include:
- New products, including completed 3D animated family and educational content, that would reach out to a family audiences and can be distributed through the company's cinema distribution arrangements and mobile distribution platform
- Acquiring existing business and revenue streams, including existing mobile application and video game businesses whose products can be distributed through the company's mobile distribution platform.
- Licensing and acquiring existing content libraries with current revenue streams. This content can be packaged with Front Row Network's new projects and sold to consumers in packages under a subscription model.
The company sees the development and acquisition of more robust and comprehensive revenue streams as an important strategic initiative, which is intended to bolster the slower than anticipated product development of its Front Row Networks subsidiary.
"The initiatives we are announcing today should be seen as a significant step in our effort to put Writers' Group Film Corp. on a path to sustainable growth," said Mr. Mitchell. "Our determination is to supplement Front Row Network's concert event business with additional products, businesses and existing revenue streams, and to focus all of our energy and creativity on positioning Writers' Group Film Corp. as an innovative distributor of 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.
Investor Relations Contact for Writers' Group Film Corp.:
Equiti-trend Advisors, LLC
+1 (800) 953-3350
SOURCE Writers' Group Film Corp.