Liquid Media Group Ltd. (the “Company,” “Liquid Media” or “Liquid”)
(Nasdaq: YVR), a business solutions company empowering independent
intellectual property (IP) creators to package, finance, deliver
and monetize their professional video IP globally, today released a
letter to shareholders from CEO Ronald Thomson. The complete letter
follows:
Dear Shareholders of Liquid Media
Group,
The start of 2021 has been extremely productive
for Liquid. As the media and entertainment markets continue to
evolve globally, we see incredible opportunities to scale our
business and support creators to generate sustainable success.
Over the past year, consumers have been craving
and consuming high-quality video content more than ever before –
across streaming programs, series and films to epic cinematic
scenes in their favorite video games. They’ve watched entire
libraries of TV and film programming and logged hours upon hours on
gaming consoles. This evolution in consumer behavior is driving
massive demand for new TV, film and gaming options – and audiences
and experts alike believe that demand is here to stay.
Video shoots and productions are, thankfully, up
and running again in many locations after a year-long health crisis
that stopped the world in its tracks, with the entertainment
industry hard hit. Faced with new challenges, independent producers
need more support than ever on the business side so that they can
focus on what they do best – creating amazing stories.
Liquid’s recalibrated business strategy
leverages our core assets, infrastructure and talent to drive our
four-stage solution engine. It’s an enhanced strategic plan we’ve
been working at tirelessly in recent months. We believe it
addresses a massively underserved market opportunity – and that it
will provide dramatic growth and long-term upside potential for our
business, driving shareholder value.
More simply put, we felt strongly that the time
for small actions was over and that a big push for our business was
required, the beginnings of which are evidenced by our recent
announcements to acquire iNDIEFLIX, Filmocracy and iGEMS.
Business Solutions for IP
Creators
Think about the businesses that have achieved
success on a scale that contributes to the transformation of an
industry; growth through acquisition and ownership of a closed-loop
system is a common thread. This trend towards consolidation has
left an increasing number of independent IP creators struggling to
navigate the new landscape. Enter Liquid; as an end-to-end business
solutions company, we will empower storytellers to package,
finance, deliver and monetize their professional video IP globally,
making it easier for creatives to take their professional content
from inception through the entire process to monetization. This
recalibration of Liquid’s business is an optimization of our
existing assets and operations in response to a massively
underserved need.
How massive is this need?
Industry veterans will tell anyone who asks that
this is a significant problem in the film, TV and cinematic video
games industry.
It’s hard to believe, but after all the
advancements in entertainment and the technology that supports this
massive global industry, there is still no existing professional,
reliable and managed solution to enable studios, independent
production companies and other professional video creators to
source, package, finance, deliver and monetize their IP.
With demand for on-screen entertainment booming,
the timing is right for us to arm media and entertainment
professionals with a powerful end-to-end solution, designed to
support them through every critical stage of the complete content
lifecycle.
Liquid’s new platform will leverage
sophisticated artificial intelligence (AI) and big data analytics
technology, informed process structuring, financial risk reduction
and funding, production best practices, together with monetization
expertise to ensure recoupment and profitability of IP across
diverse distribution. This is accomplished both through existing
assets and strategic partnerships, including the recently announced
Insight TV and dotstudioPRO distribution agreements, bringing our
network’s total audience reach to nearly a billion households
worldwide.
Strategic Vision Driven by Market
Insights
Our Company is emerging as a catalyst for
creative professionals, providing crucial support via Liquid’s
business solutions to translate their ingenuity and imagination
into a successful economic engine (and providing peace of
mind).
Who are the customers for this type of platform?
They include production companies, studios, distributors and
financiers in the filmed entertainment industry. This comprehensive
solution is an attainable path to sustained growth and
profitability. We are excited about our evolution and market
trajectory going forward.
In creating our business transformation plan, we
considered a number of important market insights including the
explosion in spending on professional video and gaming production.
This spending is being driven by:
- Success of new distribution
channels – e.g. subscription video-on-demand (SVOD) and
over-the-top (OTT) media services offered to viewers directly via
the Internet, like Netflix, Amazon Prime, Disney+ and Hulu
- High consumer
demand
- Adoption of
new enabling technologies – e.g. high-speed and
bandwidth land and mobile service
- Depletion of entertainment
inventories resulting from high demand during COVID-19
lockdown and lack of new production during that period
- Stratification of
entertainment industry
- Massive projects
from major studio players
- Smaller scale
projects as the focus of smaller independent
players
- Favorable
environment (e.g. generous tax credits) that independent
producers do not often fully leverage
- Problems completing
production financing, which is a widespread industry
constraint
- Enormous demand from
numerous sectors (corporate / private, education /
government / public, etc.) for training, education, edutainment,
advertising and communications-related video services
As we leverage Liquid’s existing assets,
infrastructure and highly experienced team, our execution program
in the coming months will also encompass several accretive
acquisitions together with strategic partnerships, several of which
have been announced as part of our solution engine’s fourth stage -
Monetization + Distribution. Healthy dialogue and negotiations are
ongoing for additional opportunities across stages. These
complementary initiatives will work to fulfill our end-to-end
solutions value proposition for the filmed entertainment
industry.
Liquid is committed to building lasting value
for shareholders in the near-term as we finance and deliver our
recalibrated business model internationally to the multitude of
customers in our target markets.
I look forward to updating you as our business
transformation continues in the coming months. In the meantime,
thank you for your continued support of Liquid Media
Group. Sincerely,
Ronald ThomsonCEO Liquid Media Group
About Liquid Media Group
Ltd.
Liquid Media Group Ltd. (Nasdaq: YVR) is a
business solutions company empowering independent IP creators.
Liquid’s end-to-end solution will enable professional video
(film/TV and video game) creation, packaging, financing, delivery,
and monetization, empowering IP creators to take their professional
content from inception through the entire process to
monetization.
Additional information is available at
www.LiquidMediaGroup.co.
Further information:
Primoris Group+1 (416) 489-0092pg@liquidmediagroup.co
Media requests:
Investor / BusinessAdam BelloMedia &
Analyst Relations ManagerPrimoris Group Inc.+1 (416) 489-0092 x
226media@primorisgroup.co
IndustryJane OwenJane Owen PR+1 (323)
819-1122jane@janeowenpr.com
Cautionary Note Regarding
Forward-Looking Statements
This news release includes statements containing
certain "forward-looking information" within the meaning of
applicable securities law ("forward-looking statements").
Forward-looking statements are typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate",
"potentially" and similar expressions, or are those, which, by
their nature, refer to future events. Such forward looking
statements include, but are not limited to, that the Company will
be able to consummate the acquisition of Filmocracy, and that
Filmocracy will continue to increase its revenues. These statements
should not be read as guarantees of future performance or results.
Further, such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance, or achievements to be materially different from those
implied by such statements. Such factors include, but are not
limited to: developments related to the COVID-19 pandemic,
regulatory actions, market prices, continued availability of
capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are
not guarantees of future performance and actual results or
developments may differ materially from those projected in the
forward-looking statements. Forward-looking statements are based on
the beliefs, estimates and opinions of the Company's management on
the date the statements are made. The Company is under no
obligation, and expressly disclaims any intention or obligation, to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/47603cdc-93c8-4122-8fb9-2f70922d6b0f
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