NETWORK MEDIA GROUP ANNOUNCES 2024 YEAR-END RESULTS

VANCOUVER, BC, March 31, 2025 /CNW/ - Network Media Group Inc. (TSXV: NTE) (OTC: NETWF) ("Network" or "the Company") today reported annual results for the year ended November 30, 2024, including revenues of $11,231,656 (2023 - $7,127,055), a net loss of $1,910,857 (2023 – a net loss of $320,937) and Adjusted EBITDA loss of $262,275 (2023 – Adj. EBITDA of $169,350), and a backlog of $11.6 million. On a per-share basis, the Company reports a net loss of $0.11 per share (2023 – net income of $0.02) and an Adjusted EBITDA loss per share of $0.01 (2022 – Adj. EBITDA earnings of $0.01). The income per share figures are reported on a post-consolidation basis. The financial statements and related Management's Discussion and Analysis ("MD&A") can be viewed on SEDAR+ at www.sedarplus.ca. 

Network President Curtis White stated: "Despite sustained industry headwinds, Network made significant progress in 2024. The year marked an important step forward for the studio as we continue to establish our premium brand and expand our IP library. The team delivered several high-profile projects that resonated with audiences, critics, and content commissioners. As we evolve our project financing models and establish new strategic partnerships, our focus remains on efficiently scaling our production pipeline to drive future growth, profitability, and value creation for our shareholders."

Key metrics for Network's three months ended Q4 2024 include the following highlights:

• Revenues of $3,259,771 (2023 – $1,394,500);
• Net income of $219,286 – $0.01 per share (2023 Net income of $280,600 – $0.02 per share);
• Adjusted EBITDA of $1,102,193 – earnings of $0.06 per share (2023 Adj. EBITDA loss of $104,860 – loss of $0.01 per share); and
• Contracted future revenues of $11.6 million, with $5.7 million to be recorded in the next six months and $5.9 million beyond seven months.

A summary of the significant events and operational highlights for Network's year ended November 30, 2024, include:

• Our BRATS feature documentary, directed by original Brat Pack member Andrew McCarthy (based on his New York Times bestselling book Brat: An '80s Story), in partnership with NEON and ABC News Studios, showcased at the Tribeca Film Festival and premiered shortly after that on Hulu, reaching the #1 spot. The film explores what it meant to be part of the notorious group of young Hollywood actors in the 1980s who were dubbed the Brat Pack;
• We delivered two new I Am films, I Am Joe Frazier and I Am Raquel Welch, to The CW Network for U.S. broadcast and to our international partners for global distribution;
• Successfully delivered a new four-part documentary series;
• Subsequent to November 30, 2024, our Sly Stone feature documentary, Sly Lives! (aka the Burden of Black Genius), debuted on January 23, 2025, at the Sundance Film Festival. Directed by Academy Award-winner and four-time Grammy and Sundance Film Festival Award-winner Ahmir "Questlove" Thompson, in partnership with MRC Non-Fiction and Onyx Collective, the film celebrates the ground-breaking musical artist Sly Stone of Sly and the Family Stone. After the 2025 Sundance Film Festival, it premiered on February 13, 2025, on Hulu/Disney+.

Network also continued pre-production and production on four other feature-length documentaries. 

About Network Media Group / Network Entertainment
Network Media Group is the parent company of Network Entertainment Inc.
Network Entertainment is a creatively driven, boutique film, television, and digital content production company that creates, finances and produces award-winning programming for television, digital platforms, and movie audiences around the world. 

The Network premium brand of content delivers world-class casts and features visually cinematic, richly crafted storytelling. The Company's productions are consistently embraced by both audiences and critics alike, garnering awards, record ratings, and unparalleled media coverage for Network and its partners.

For additional information on Network Entertainment Inc., visit www.networkentertainment.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statement on Forward-looking Information
Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. These statements are necessarily based upon management's perceptions, beliefs, assumptions and expectations, as well as a number of specific factors and assumptions that, while considered reasonable by management of the Company as of the date of such statements are inherently subject to significant uncertainties and contingencies that could result in the forward-looking information ultimately, perhaps materially, being incorrect. All forward-looking information in this news release involves known and unknown risks, uncertainties, and other factors that are beyond the control of the Company and may cause the actual results, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof.

SOURCE Network Media Group Inc.

Enquiries: Curtis White, President, [email protected]