Data Projects the Global Entertainment and Media Revenue to Top USD 2.4 Trillion by 2022
NEW YORK, September 5, 2018 /PRNewswire/ --
FinancialBuzz.com News Commentary
According to a report published by PWC, global entertainment and media revenue is expected to grow from USD 1.9 Trillion in 2017 to USD 2.4 Trillion by 2022 and at a compound annual growth rate (CAGR) of 4.4%. Revenue from the digital segment continues to grow rapidly, accounting for over 50% of the total market revenue in 2018. The report also indicates that the rising mobile app usage, increasing popularity of subscription video services, new technologies such as virtual reality and the value shift to platforms and personalization are the new drivers of growth for the market. The Wonderfilm Media Corporation (OTC: WDRFF), Viacom, Inc. (NASDAQ: VIAB), AMC Entertainment Holdings, Inc. (NYSE: AMC), IMAX Corporation (NYSE: IMAX), National CineMedia, Inc. (NASDAQ: NCMI)
The entertainment and media industry can be divided into six major segments: traditional TV and video, cinema, over-the-top (OTT), virtual reality, video games and e-sports and Internet advertising. The traditional TV segment is expected to have negative growth during the forecast periods as competition increases. The cinema segment is expected to see stable growth at a 1.8% CAGR, reaching USD 12.3 Billion by 2022. Box office revenue will see a 1.7% CAGR growth as rising ticket price and increasing film production offset the falling admissions. Virtual reality and internet advertising segment are expected to witness the fastest growth rates by 2022.
The Wonderfilm Media Corporation (OTC: WDRFF) is also listed on the TSX Venture Exchange under the ticker symbol (TSX-V: WNDR). Earlier today, 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."
Viacom, Inc. (NASDAQ: VIAB) is home to premier global media brands that create compelling entertainment content - including television programs, motion pictures, short-form content, games, consumer products, podcasts, live events and social media experiences - for audiences in 183 countries. Viacom Inc. recently announced the acquisition of AwesomenessTV Holdings, LLC, a media company and leading digital-first destination for original programming serving global Gen-Z audiences. Awesomeness will join Viacom's portfolio of premiere entertainment brands as part of Viacom Digital Studios. "Awesomeness has done an incredible job building their brand into a digital media powerhouse for today's most sought-after and hard-to-reach youth audiences," said Kelly Day, President of Viacom Digital Studios and former Chief Business Officer of Awesomeness. "The team brings strong digital expertise, deep connections with top talent and influencers, a world-class television and film studio, and a robust branded content team and creative agency that will accelerate the growth and scale of Viacom Digital Studios."
AMC Entertainment Holdings, Inc. (NYSE: AMC) is the largest movie exhibition company in the U.S., in Europe and throughout the world with more than 1,000 theatres and 11,000 screens across the globe. AMC recently announced its Stubs A-List, which was designed to stimulate movie going across all age groups including millennials, is already delivering on its promise and potential. Only seven weeks after launching its new loyalty program tier, AMC Theatres® recently announced that AMC Stubs A-List already has been responsible for more than 1,000,000 in attendance at its movie theatres. AMC also announced that A-List has recently crossed the quarter-million membership mark, now having more than 260,000 paid enrolled members. This figure indicates some 85,000 A-List enrollments in just the past two weeks. AMC previously publicly reported 175,000 enrollments on July 31st. "We remain immensely satisfied by the initial consumer response to AMC Stubs A-List. With more than 260,000 members enrolled and over 1 million in attendance in just seven weeks, A-List in its early going is already demonstrating that it encourages moviegoers of all ages, locations and backgrounds to come to movie theatres more often, and they bring family and friends along with them. While one would think that the rate of signups will inevitably have to slow down at some point, enrollments now are continuing at quite a brisk pace, getting AMC to scale much sooner than we initially anticipated. This is very good for AMC and very good for our movie studio partners as well."
IMAX Corporation (NYSE: IMAX), an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that takes movie-goers beyond the edge of their seats to a world they've never imagined. Following the news that Saudi Arabia's Ministry of Culture and Information will be opening up the Kingdom to movie theatres in 2018 for the first time in 35 years, IMAX Corporation and VOX Cinemas, the Middle East's largest and most rapidly growing cinema exhibitor, recently announced a sales agreement for a minimum of four new IMAX® theatres in Saudi Arabia. Four theatres will be added to new multiplexes in Riyadh and other prime locations at some of the Kingdom's most prominent shopping malls including those owned by VOX Cinemas' parent company, Majid Al Futtaim, the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa and Asia. "Saudi Arabia presents an exciting and sizeable new growth opportunity for IMAX, and today's agreement with our long-time partners at VOX Cinemas marks an important first step in our efforts to capitalize on this untapped market," said IMAX CEO Richard L. Gelfond. "IMAX began delivering awe-inspiring cinematic experiences to audiences in Saudi Arabia in 2005 as the sole operating theatre in the country. We've been closely following the economic and cultural developments in the market and look forward to playing a key role in the growth of the Kingdom's emerging entertainment sector."
National CineMedia, Inc. (NASDAQ: NCMI) is America's Movie Network. As the #1 Millennial weekend network in the U.S., NCM is the connector between brands and movie audiences. The Company recently announced its consolidated results for the fiscal second quarter and first six months ended June 28th, 2018. Commenting on the Company's first six months of 2018 operating results and second half of 2018 positioning, NCM Chief Executive Officer Andy England said, "It has been a very productive second quarter, and a great first half of 2018. We achieved strong revenue and Adjusted OIBDA growth and continued to attract new and returning advertisers to cinema and to our new Noovie digital ecosystem, all while successfully launching Noovie ARcade, reaching an agreement with Standard General, refinancing our senior secured credit facility, eliminating the AMC stock overhang, and moving our corporate headquarters to a great new modern facility."
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