Beverly Hills, California, Nov. 16, 2017 (GLOBE NEWSWIRE) — Modern Cinema Group, Inc. (OTCPK: MOCI) is proud to announce the launch of its highly anticipated futures exchange for the trading of media contracts movies, TV shows and games). History was made today when the first-of-its-kind exchange was launched that will eventually provide capital financing to producers while simultaneously reducing the costs associated with content acquisition. In addition, promotional campaigns will be improved by allowing distribution partners to convert their ad “avails” into a form of currency that can be profitably traded over the exchange.
Today the mobile carrier named Smartfren based in Jakarta Indonesia successfully completed the first commercial test of the media exchange by purchasing an independent movie named “His Big Regret”. Smartfren and other platform operators in Southeast Asia will soon begin using the exchange for other media purchases.
As for Modern Cinema Group, after it secured its patent portfolio for such a novel futures exchange, the company went on to forge of a partnership with The Pride Group (Dubai) and Pride Holdings (Chicago), known to both own and operate exchanges around the world. The agreement signed between Modern Cinema Group and Pride facilitated the launch of a world-wide media exchange that was used for today’s test. The exchange software and cloud-based network was provided by Kapp Software from Southern India.
Modern Cinema Group’s new media futures exchange is now operational with new titles to be added on a regular basis. In addition, new territories will also be added. Modern Cinema Group’s schedule for the next two years is ambitious with plans for new productions that include major motion pictures, live sports and at least one Chinese co-production.
Says Ross Cooper, CEO of Modern Cinema Group, “Today marks the first time in history that a film, TV show or game buyer can go on-line and purchase equity ownership and just about any level of license agreement that may be desired. The resulting efficiencies could exceed 40% which will provide more revenues to both sides of the supply chain. I once heard someone say, ‘The true test of an efficient media distribution network is when even bad movies makes money’. Although nobody sets out to make a bad movie, it happens. If the underlying financing, distribution and promotional apparatus is efficient enough to make bad movies profitable, imagine what can happen with good ones.”
Present for today’s commercial test was Mr. T. Kugan, the Chief Marketing Officer of the Indonesian mobile carrier, Smartfren. Says Mr. Kugan. “We at Smartfren are very interested in any technology that will help us better monetize popular videos. As almost half of our subscribers are heavy data users, it’s important for us to become more involved in the value chain. I can see how the exchange offers us the tools and systems we’ll need to reach this new level of involvement.”
Says Mr. Sriram Das, CEO of DAS Films. the producer of the film used for today’s test, “I’ve been interested in Modern Cinema Group’s exchange model for over a year now. Before I was a movie producer, I was a global investment banker. I may have a more thorough understanding of the exchange than most producers in Hollywood. Although Modern Cinema Group has a long way to go to make a dent in the “Hollywood system”, they are on the right track. I wish them the all the best as they work to scale the exchange and enter some new markets.”
Now that the exchange is officially launched, new productions will commence and more library titles will be added. Live events such as the 2018 World Cup will also be negotiated for potential contracts to be listed on the exchange.
Modern Cinema Group based in Beverly Hills, founded in San Diego has spent the last three years designing and patenting new business and technology models that allow both producers and distribution partners to integrate their systems in such a way as to leverage each other’s natural advantages.
Smartfren based in Indonesia, PT Smartfren Telecom Tbk is one of the leading telecommunication service providers in Indonesia for the retail and corporate segment. Smartfren has been operating since 2011 throughout Indonesia. Smartfren is part of the Sinarmas Group business units.
DAS Films based in Santa Monica, California is a development and production company focusing on adapting literary properties into feature length films for the independent marketplace.
Kapp Software based in India is a 14 year old company employing some of the best software developers in its industry. Pride software systems are running in many countries today with plans to expand in the near future.
The Pride Group based in Dubai has spent the last 31 years developing business opportunities ranging from information systems to health care; Pride group is involved in a multitude of industry sectors. Pride’s affiliates are located in over 43 countries that span over 5 continents.
FORWARD LOOKING STATEMENT
This press release contains certain “forward‐looking” statements, as defined in the United States Private Securities Litigation Reform Act of 1995 that involve a number of risks and uncertainties. Statements, which are not historical facts, are forward‐looking statements. The Company, through its management, makes forward‐looking public statements concerning it expected future operations, performance and other developments. Such forward‐looking statements are necessarily estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no factors that could cause actual results to differ materially from those estimated by the Company. They include, but are not limited to, the Company’s ability to develop operations, the Company’s ability to consummate and complete the acquisition, the Company’s access to future capital, the successful integration of acquired companies, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition, sales and other factors that may be identified from time to time in the Company’s public announcements.