Business
Hannover House Launches Multi-Studio Distribution Pact
Hannover House Launches Multi-Studio Distribution Pact.
About this update from Hannover House, Inc.
[{"type":"text","content":"Independent entertainment distributor Hannover House, Inc., (OTC: HHSE) is forecasting rapid growth in revenues from the launch of a multi-studio video releasing venture, the company announced today. Medallion Releasing, wholly-owned subsidiary of Hannover House, will launch with new release DVD, Blu-Ray and Video-On-Demand titles in November under distribution pacts with four outside studio labels. The new sales venture, modeled after the successful structures put into operation for Universal / Vivendi and Allegro Media Group by industry veteran Tom Sims, is expected to significantly enhance the market-share for Hannover House. The Medallion Releasing venture will be managed for Hannover House by Tom Sims, who recently joined the company as Vice President of Sales.\n \nThe first label supplier announced for the pact is California-based Paseo Miramar Studios, whose \"American Justice\" actioner will launch the Medallion efforts. Paseo Miramar is committed to deliver one or more new release production per quarter. Additional studio label supplier ventures will be individually announced over the next few weeks, but include an established supplier of \"Urban\" titles, an established supplier of \"Christian\" Family movies, and an established supplier of \"Spanish\" home video programming. The existing labels being added into the Medallion Releasing / Hannover House venture have historically generated between $8-mm and $20-mm annually in cumulative, gross sales.\n \n\"We see this consortium of independent labels as an important strategy for the growth of Hannover House,\" said C.E.O. Eric Parkinson. \"Adding complementary and non-competitive new release titles to our monthly release slate immediately increases our overall revenues and market share. As we also continue with our growth into the realm of higher-profile, theatrical titles, this strategy of parallel paths will assure rapid growth in revenues and bottom line earnings,\" he concluded.\n \nUpcoming titles to be released under the Hannover House label include a wide range of titles and genres, with a concentration in the sci-fi and horror categories. The new products from the outside supplier studios to Medallion are not expected to compete for the same shelf and kiosk space as the Hannover House brand...