Business
Hannover House Provides Update On Filings, Registration, MyFlix and Venture Status
Hannover House Provides Update On Filings, Registration, MyFlix and Venture Status.
About this update from Hannover House, Inc.
[{"type":"text","content":"Eric Parkinson, President and C.E.O. of independent entertainment company Hannover House, Inc., (OTC: HHSE) released the following statement to shareholders and principals:\"As our loyal shareholders know, the past few months of the past few years have been the most challenging and difficult times in the 29-year history of Hannover House. While video marketplace changes in the past five years bankrupted many other independent companies, Hannover House has persevered and evolved to meet each of the new realities as they have manifested. Rather than belabor the details of these industry trends, I will instead remind our shareholders - and prospective new followers – of what the company is doing to survive and prosper in this new, entertainment delivery world. We are in the midst of a historic paradigm change in the way consumers view entertainment. Yes, there is still a robust business for certain films at theatres or onto DVD and BluRay media. But the vast majority of films are now launching directly to streaming (or launching simultaneously with theatrical release), due to audiences worldwide now preferring the variety, immediacy and convenience of Video-On-Demand. This past weekend, Netflix by-passed theatres and launched the $175-million-dollar, star-studded adventure 'The Adam Project' onto their subscription streaming platform. Viewers in the United States and twenty-five other major territories (representing more than half of all entertainment households on the planet), could simply click 'on' to see this impressive, audience-friendly adventure. This is a jaw-dropping achievement that simply could not have happened in recent years. But the proliferation of high-capacity internet service, big-screen TVs and common-sense home economics have now made it possible to launch an event-level film instantly and at only a fraction of the releasing costs required for prior releasing models. The bottom-line is that this is a great time to be in the streaming business, and a horrible time to be a DVD distributor.At our peak employment, Hannover House had 22 employees working on marketing, promotions and booking of films to theatres. The company's goal at that time was to build on this theatrical visibility to enhance a film's DVD sales - and to make these releases more attractive to streaming services, including Netflix....