FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Wonderfilm Media Partners With 2019 Best Picture Oscar Nominee”
The Wonderfilm Media Corporation (OTC: WDRFF) (TSX-V: WNDR) is a leading publicly traded (TSX Venture Exchange & OTC) 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 announced today that it has green lit six separate new movies to begin principal photography in the first two quarters of the year. Wonderfilm is on pace to meet its expected target of 17 produced films in the 2019 calendar year. Currently, 8 films are in production, with another 16 movies green lit for production in the near term. The additional six films add $22 million USD in total production budgets to Wonderfilm, bringing the current slate to ~$120 million USD.
Continuous shifts in consumer trends have been pressuring the movie and entertainment production companies, causing revenue to falter. Industry players are challenged with appealing to a larger audience in an effort to deliver a successful film. Now, companies are transitioning from traditional business models to more technology-based approaches such as the mobile consumer, business model reinvention, emerging technologies, value shift to platforms and personalization. According to data compiled by PricewaterhouseCoopers, the U.S. total cinema revenue will remain stable throughout the forecast period from 2018 to 2022. The industry is projected to grow at a CAGR of 1.8% and reach USD 12.3 Billion by 2022. Due to the steady growth, box office revenue will remain reliant on a small number of big-budget studio “tentpole” and franchise movies for growth.
Despite audience attendance slowly declining, PwC still sees box office revenue growing and at a steady pace, as box office revenue is expected to grow during the forecast period at a CAGR of 1.7%. Regardless of decreasing attendance, PwC says rising ticket prices and an increase in film production is allowing entertainment and movie companies to combat the decline. “As the movie business continues to morph and evolve alongside shifting audience behavior, smart brands will consider employing a direct-to-consumer content strategy that piggybacks off new audience platforms to reach customers anytime, anywhere. There has been much talk about retailers needing to adopt an “omnichannel” strategy in order to better serve their customers on all sales channels, and now is the time for brand marketers to take a similar approach to prepare for the impending shake-up in the theatrical movie business,” said Richard Yao, Senior Associate of Strategy and Content, IPG Media Lab.
For more information, please visit: The Wonderfilm Media Corporation
For more corporate news on The Wonderfilm Media Corporation, check out the Buzz on the Street
About Buzz on the Street: One of FinancialBuzz.com’s latest corporate and financial news shows, covering the latest trending stock market news. Buzz on the Street looks to become a leader in corporate video news dissemination. Buzz on the Street is 100% original content, brought to you by Financial Buzz Media.