Devine Entertainment Notes Release of Industry Report Citing Double-Digit Growth Projections of Electronic Distribution of Film and Television Content Newly Formed Devine Digital Content Group to Address Opportunities within Multibillion-Dollar Digital and Mobile Entertainment Marketplace
Devine Entertainment Corporation (OTCBB:DVNNF), seeking to capitalize on the burgeoning global demand for high quality film and television content, invites investors to review a newly available market research snapshot outlining the projected double-digit growth of the online, mobile and other new distribution channels of entertainment content.
Devine recently announced the formation of the Devine Digital Content Group to streamline and accelerate its ability to capitalize on opportunities in this fast-growing multibillion-dollar segment of the worldwide entertainment industry.
An industry snapshot by fee-based equities research firm Murphy Analytics reviewed independent research about the entertainment distribution marketplace, citing some of the growth projections in those reports.
Double-digit growth is expected for digital and mobile spending in each territory during the next five years rising to $153 billion by 2011, according to a report by PricewaterhouseCoopers. “Spending related to the distribution of entertainment and media on convergent platforms (convergence of the home computer, wireless handset and television) is also growing at double-digit rates and will exceed 50% of global spending by 2011,” said the PricewaterhouseCoopers report, entitled “Global Entertainment and Media Outlook 2007 – 2011.
“With the formation of Devine Digital Content Group and the announcement on 10/19/07 of a distribution agreement with NetMovies, Inc., Devine Entertainment Corp. (DVNNF) has taken a landmark step towards broadening its operational focus and award winning entertainment library to effectively address the fast-growing online distribution market,” said the report from Murphy Analytics, a paid equities research firm.
Devine recently announced revenue and earnings guidance for the first three quarters of calendar year 2007, projecting significant revenue growth of CAN $5.5 million, representing a 1600% increase over the $363,529 for the comparable period in 2006. The Company also projected earnings in excess of $1 million for the first three quarters of 2007, a significant increase over the $529,614 loss reported for the same period in 2006.
About Murphy Analytics
Murphy Analytics (www.MurphyAnalytics.com) is a fee-based, comprehensive investment research firm, focusing primarily on the underserved small-cap sector. Murphy analysts are seasoned industry professionals and adhere to the CFA Institute's (CFAI) stringent ethics and standards of practice guidelines. Murphy Analytics does not have any investment banking relationships with any of the companies covered. Murphy Analytics was compensated $7,500 prior to performing its updated investment research and was not compensated in any way based on the future performance of the equities they follow.
About Devine Entertainment
Devine Entertainment Corporation develops, creates, and produces award-winning television programming and feature films for worldwide distribution across multiple TV broadcast networks, cable and satellite networks, DVD and Internet markets. Specializing in cultural and educational programming as well as prime-time drama and comedy entertainment programming, the Company's titles have garnered more than 120 international film and television industry awards, including five Emmy and five Gemini Awards. The Company partners with leading international distributors, broadcasters and co-producers, such as Sony BMG, Rogers Media and The Carrere Group of France, to produce and distribute its award-winning film and television titles.
Among Devine's critically-acclaimed productions are its cultural and educational film series on history's landmark Composers, Inventors and Artists, which have been broadcast in more than 50 countries. The Company continues to expand its proprietary library of high-quality film and television content. Among its general-audience primetime programming is the acclaimed one-hour mystery series, "Across the River to Motor City," delivered to broadcasters worldwide in 2007. Headquartered in Toronto, the Company's common shares trade on the NASD OTCBB market in the U.S. under the symbol DVNNF. The Company's corporate website is www.devine-ent.com.
This press release may contain forward-looking statements relating to the future performance of Devine Entertainment Corporation. Forward-looking statements, specifically those concerning future performance and the achievement of operating profitability, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties include the market acceptance of the Company's products and services; competition within the film and entertainment industry and the introduction of new entrants and/or products in the Company's markets; adverse changes in governmental regulations and policies affecting the film and entertainment industry; product development risks and risks of technological change; the risk of unanticipated expenses; and other risks and uncertainties all as described in the disclosure documents filed with securities regulatory authorities in accordance with applicable securities laws. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the Company believes that the expectations conveyed by the forward-looking statements are reasonable based on information available to it on the date such forward-looking statements are made, no assurances can be given as to future results, levels of activity and achievements. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Devine Entertainment Corporation Arnold Tenney or Richard Mozer, 416-364-2282 Toll-free: 877-338-4633 atenney@devine-ent.com or Trilogy Capital Partners Financial Communications: Ryon Harms, Toll-free: 800-592-6067 ryon@trilogy-capital.com
Source: Business Wire (October 24, 2007 - 11:34 AM EDT)
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