FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “ABQQ Announces Investments in Chinese Movies and Reports of Financial Results for the Three Months Ended November 30, 2019.”
AB International Group Corp. (OTCQB: ABQQ), an intellectual property (IP) and movie investment and licensing firm announces its unaudited financial results for the three months ended November 30, 2019. The financial results have been filed in a 10-Q with the U.S. Securities and Exchange Commission.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We currently have a Patent License Agreement pursuant to which Guangzhou Shengshituhua Film and Television Company Limited, a company incorporated in China, granted the AB International Group a worldwide license to a video synthesis and release system for mobile communications equipment, in which the technology is the subject of a utility model patent in the People’s Republic of China. We recently launched new business applications through smartphones and official social media accounts based on Tencent’s WeChat platform, utilizing Artificial Intelligence, it is a matching platform for performers, advertiser merchants, and owners for more efficient services. It generates revenues through an agency service fee from each matched performance. Currently, there are hundreds of active members, which is increasing daily as new companies and performers are registering for membership. In 2019, we are also actively exploring investments in Chinese movies copyright and release rights.
The U.S. media and entertainment (M&E) industry is the largest in the world. It represents a third of the global M&E industry and includes various subsegments like motion pictures, television programs and streaming content, music and audio recordings, broadcast, radio, book publishing, video games and more. Globally, shifting consumer behaviors help shape and influence the industry. And thanks to new technology and a growing number of streaming services like Netflix, consumers are embracing the opportunities to enjoy media experiences that are uniquely tailored to their own personal preferences. On the other hand, Hollywood also makes an effort to bring consumers back to theatres as major studios focus on releasing mega-budget films and popular franchises. In addition, membership business models at movie theaters can soften the impact of increased admissions for cinemagoers and are expected to become more popular over the forecast period. Overall, revenues for the global E&M industry are projected to continue to rise steadily. And according to Global Entertainment & Media Outlook 2019–2023 by PwC, total global E&M revenue is set to register a 4.3% CAGR from 2018 to 2023, with the figure rising from USD 2.1 Trillion to USD 2.6 Trillion by the end of the forecast period. This pace is close to historical trends, despite the shifting consumer behaviors.
In the meantime, China’s total growth in E&M will exceed that of the U.S. for the first time. In that period, the U.S. will add USD 71 Billion (a 2.5% CAGR), while China will add USD 84 Billion (a 7.7% CAGR). And in terms of total cinema revenue, China will overtake the U.S.A. in 2020. China’s remarkable growth in this market is driven by policy, the internet and major investments. A research conducted by Deloitte explains that internet companies and real estate developers have used resource advantages to gradually enter the entertainment industry and build an ecosystem. For example, Wanda Group, a Chinese property developer, has merged its culture and property resources, taking advantage of its commercial property to build movie theatres, and expanded into the upstream film industry with its channel advantage. On the film consumption front, China’s film industry maintained rapid growth, with combined revenue of RMB 66 Billion in 2014, and according to Deloitte’s forecast, by 2020, China’s film industry will reach revenues of RMB 200 Billion.
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