Company Builds Strong and Sustainable Revenue Streams through Sales of
Successful Franchise Film Properties Widely used in Schools and Libraries
- Steady Sales in Education Market Maintain Predictable Revenue Flow
- Market Includes over 55 Million Students and 68,000 Schools in U.S.
- More than 110,000 Libraries in U.S. also Potential Customers
TORONTO, Nov. 21 /CNW/ - Devine Entertainment Corporation (OTCBB:DVNNF),
seeking to capitalize on the burgeoning global demand for high quality film
and television content, has announced expansion of its educational marketing
initiatives following the continued success in the distribution of proprietary
film series to school and institutional buyers.
Devine recently sent representatives to the National Middle School
Association annual conference in Houston, TX, to meet with volume buyers and
curriculum-setters in the middle school market. In the best response in the
Company's history of attending school conferences, several hundred educators
registered as part of Devine's initiatives to sell a number of its most
successful titles aimed at young adults.
"Although we have met with steady success in this market, we believe
there is great untapped potential for additional sales," said David Devine,
President and Chief Executive Officer of Devine Entertainment. "We estimate
that we have penetrated only 15-20 percent of the U.S. educational market to
date with our successful franchise titles, yet these evergreen titles continue
to sell strongly year after year. Meanwhile, the anticipated production of new
titles will increase the value of our entire library."
Devine's education strategy in the U.S. currently focuses on the pre-K
through 8th grade levels, comprising approximately 55 million students in
68,000 elementary and middle schools. It also targets more than 110,000 U.S.
libraries, including public, private and school libraries.
Devine's strong, established educational and institutional market
distribution channel provides sales advantages distinct to the company. Devine
does not need to arrange new distribution for newly produced or licensed
properties. Making such arrangements is a time-consuming, expensive,
hit-and-miss proposition for other participants in Devine's marketplace.
Devine's educational and institutional distribution channel is solid and
ongoing with real customers and revenue. Thus, Devine can also readily
capitalize on any new products. Newly produced or acquired titles can be
simply sold and distributed alongside existing products, giving new titles
predictable revenue and sales value for Devine.
The increasingly strong Devine distribution channel also attracts
high-quality titles produced by third parties, such as Shakespeare 4 Kids or
Marsalis on Music, providing yet another powerful driver for Devine to grow
its distribution pipeline and business.
Devine's educational sales representatives will next attend the upcoming
American Library Association Midwinter Meeting in January, in Philadelphia,
PA, to develop further sales opportunities among volume buyers at libraries
Among the Devine titles that have generated the highest sales and
interest throughout the educational market segment are: The Inventors'
Specials, The Composers' Specials, The Artists' Specials, Marsalis on Music
and Beethoven Lives Upstairs. The films are designed to address the young
adult audience with high-quality script and production values that enable them
to entertain students while they augment teacher instruction.
With many schools and municipalities increasingly forced to cut budgets
for art and music education, Devine has seen greater demand than ever for its
films to step into that gap. "Educators have found that our music and
arts-oriented titles can provide students valuable exposure to these important
aspects of culture that students might not otherwise receive," said Glenn
Sernyk, Senior Vice President of Marketing for Devine Entertainment, who
spearheads the Company's children's and educational sales programs. "In
addition, films such as our Inventors' Specials are often used by teachers to
help make math and science more accessible to their students."
Devine enjoys a near-zero returned or unsold inventory rate on its
educational titles, enabling the Company to maintain steady revenue
projections in this portion of its operations. "Education provides a strong
foundation for our business and helps us to avoid the cash flow uncertainty
that plagues many film and television production companies," said Mr. Devine.
"This enables us to capitalize the company much more effectively to maintain
our production pipeline and continue to build our library of titles."
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, and on the Frankfurt Stock Exchange under the ticker 3TD. The Company's
corporate website is www.devine-ent.com.
Investor-specific information and resources:
View current stock quotes and news:
Investor Fact Sheet:
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.
For further information:
For further information: Devine Entertainment Corporation, Arnold
Tenney, Richard Mozer, (416) 364-2282, Toll-free: (877) 338-4633,
firstname.lastname@example.org; Trilogy Capital Partners, Financial Communications:
Ryon Harms, Toll-free: (800) 592-6067, email@example.com