SAPX NEWS Seven Arts Pictures Plc Launches "Indie" Film Imprint to Capitalize on Global Digital Distribution Opportunities New Beaux Arts Imprint Will Leverage the Company's Existing Worldwide Distribution Network and Emerging Digital Distribution Formats to Distribute "Indie" and "Art House" Films
Press Release Source: Seven Arts Pictures Plc On Wednesday July 27, 2011, 2:26 pm
HOLLYWOOD, CA--(Marketwire -07/27/11)- Seven Arts Pictures Plc ("Seven Arts") (NASDAQ: SAPX - News) announced today that the formation of Beaux Arts, an "Indie" film imprint to further bolster the Company's ability to take part in meeting the strong demand for filmed entertainment worldwide.
"The Beaux Arts imprint will allow Seven Arts to utilize our extensive worldwide distribution network to expose to a wider audience high quality indie films that might otherwise have escaped notice," said Peter Hoffman, CEO of Seven Arts.
Digital distribution of filmed entertainment has grown to become a major force in the entertainment industry, with demand being driven by technological advances that allow consumers to watch movies using an expanded menu of devices. This new imprint, combined with the Company's existing production initiatives, will allow the Company to provide viewers with a wide variety of quality content across multiple delivery platforms.
Beaux Arts will initially target the acquisition for distribution of 5 to 10 "indie" and "art house" films per year, with the objective of increasing this to 10 to 20 films per year subsequently, if feasible. Films distributed under the Beaux Arts label will be primarily targeted at existing and emerging digital distribution formats such as Video on Demand (VOD) and streaming video services.
"While the number of big budget films being produced has slipped somewhat in recent years, the number of indie films debuting each year, the vast majority produced without studio financing, remains robust," added Kate Hoffman, Seven Arts' Chief Operating Officer.
"With the extensive consolidation the industry has experienced over the past year or so, we believe the market for low and moderate budget indie films is currently underserved, and, as a result, the formation of the Beaux Arts imprint should improve our chances of making headway in this sector."
About Seven Arts: Seven Arts Pictures Plc was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television. For more information, visit: http://www.7artspictures.com/.
Cautionary Information Regarding Forward-Looking Statements: Forward-looking statements contained in this press release are made under the Safe Harbor Provision of the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties that could cause actual results to differ materially from the anticipated.
Contact: For Information/Inquiries regarding Beaux Arts:
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