(New York, NY) Hannover House, Inc., (OTC: HHSE), has accelerated actions to launch the MyFlix streaming service, including an aggressive final outreach to major studio and program rights owners to participate in the service. With forty-five suppliers previously committed, the addition of three new major media suppliers provides the final impetus for a consumer launch, said HHSE and MyFlix C.E.O. Eric Parkinson.
“The last two years have seen meteoric growth in streaming
services, and the momentum is not slowing down,” said Parkinson. “The MyFlix concept of one-stop consumer
access to multiple suppliers and thousands of films has been universally
embraced by our supplier studios and rights holders. We are offering a high visibility
‘retail streaming store’ for the merchandising of their programming,” he
concluded.
The MyFlix service will replace prior business models for
Hannover House, which in the past ten years had been built around the distribution
of independent films onto DVD, theatres and third-party streaming services.
With DVD sales already declining in the pre-COVID years, and with movie
theatres shut down for most of 2020 and early 2021, the “in-home streaming” of
entertainment programming has taken over as the preferred consumer media
delivery methodology. Premium sites such as NETFLIX, HBO Max, Disney+ and
Paramount+ have distinctive and profitable market bases. But thousands of independent
films are often unavailable for streaming, and market trends show that many consumers
prefer ad-supported services or per-transaction options as opposed to the
commitment of a large, monthly subscription fee.
“We think the advertiser-support version of MyFlix will
likely be our most popular option,” said Parkinson. “Consumers have accepted
the advertising model pioneered by TUBI.TV as it gives them great access to
programming without a monthly bill. We think MyFlix will fit in nicely with the
platform options available to consumers.”
Consumers will also have the option for a flat-fee monthly subscription
on MyFlix, but with access to less than half of the total programming otherwise available on MyFlix.
A temporary place-holder web-page for MyFlix.com has been published,
with the actual, consumer interactive service being built off-line. Marketing
for the launch of MyFlix will include entertainment website link ads, targeted
industry publications, social media ads and YouTube promotions to support MyFlix
commercials. "MyFlix" was recently approved by the U.S. Trademark office for an enforceable trademark. Upon launch of the MyFlix site and service, other businesses that have been using a version of the "MyFlix" name will be required to cease infringement on the MyFlix trademark by either stopping their activities or rebranding.
Hannover House is also working on the development of original
programming for MyFlix, which Parkinson feels could expand awareness and attract
new customers.
In other Hannover House news, reconciliation of previously
filed year-end reports have been modified to reflect a primary “cash-basis”
accounting as reflected in the Form 10-12(g) registration statement prepared
for the company’s stock shares. Although the company completed the Q4
financials for the three-months ending 12-31-2022, the OTC Markets requirements
for a full year-end report have delayed the release of the Q4 results until the
prior quarters for calendar year 2022 have been modified to match the primary
cash basis accounting. This process is expected to take between one and two
weeks at which time the full 12-31-2022 results will be released and the prior quarterly
filings will be amended. This reconciliation and modification of prior
reporting periods is considered the “final step” required for completion of the
Form 10-12(g) registration statement and the applicable professional opinion
letters from counsel and auditors.
Production continues on the historic western, “The Last Days
of Belle Starr” – which is on target for final submission on March 11 to
the Cannes Film Festival for competition consideration. Post-Production on “Wildfire:
The Legend of the Cherokee Ghost Horse” continues, with the original music
score (by Michael Martin Murphey) punctuating scenes and adding a
timeless panache. Three new feature
productions are planned for 2023, including the feel-good drama “Modern
Antiquities” and a major holiday feature that HHSE believes contains
evergreen elements to make it a repeat-viewing title for years to come.
“We have evolved our business model to create sustainable,
profitable and synchronous activities in our production of original feature films
and with the MyFlix streaming service,” concluded Parkinson. “We understand the
enthusiasm of many shareholders and media observers for the success that MyFlix
and Hannover House are positioned to achieve for the immediate future and next
few years.”
For More Information Contact:
ERIC PARKINSON, 818-481-5277, EnterLinkMedia@gmail.com or Eric@HannoverHouse.com
