Business
New Productions and Ventures Position Hannover House for Record Revenues in 2022
New Productions and Ventures Position Hannover House for Record Revenues in 2022.
About this update from Hannover House, Inc.
[{"type":"text","content":"FAYETTEVILLE, AR / ACCESSWIRE / December 31, 2021 / Elevated from streaming income and high-end feature productions, Hannover House, Inc. (OTC PINK:HHSE) is looking for a record year in 2022 for both gross revenues and profits. The veteran indie studio (founded in 1993) is forecasting gross revenues of more than $20-million with pre-tax profits of over $4-million in the coming year. The company's prior revenue record was set in 2007, at $11.4-million in gross revenues - a time when the company held an impressive number of titles in the Walmart and Best Buy DVD budget bins."We are emerging from a rebuilding period these past three years," said Eric Parkinson, President and C.E.O. of Hannover House. "As the physical DVD and BluRay business evolved into a consumer streaming preference, we had to retool our operations to evolve into this new medium. As a result, our MyFlix multi-studio streaming concept is expected to generate at least $15-million in 2022, and this result would comprise three-quarters of the company's total gross revenues for the year. The other significant paradigm change for Hannover House is the company's new involvement in facilitating the production of high-end feature productions, which will generate overhead and fees for the company. These new productions are expected to generate about $3.5-million in revenues, with a margin of about $1.5-million in 2022. And finally, the company's long-standing activities in selling physical DVDs, BluRays and Books will continue to generate activities, but at a far less consequential level as compared to MyFlix and the major productions," he concluded.The MyFlix service will offer the best of several successful streaming competitors. Consumers will have a very large access to titles through MyFlix - over 15,000 titles - and these can be watched through a monthly subscription (ala Netflix), or on per-transaction fee basis (ala Amazon), or under an "ad supported" option in which the programs are interrupted with ads (ala Tubi). MyFlix hopes to eventually offer an educational portal, interactive games, and the option to upload videos (ala YouTube). The launch of MyFlix will cost about $4-million, which the company expects to be provided through an investor-backed credit line."If you compare MyFlix to existing services, it's very easy to projec...