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SOURCE StarStream Entertainment
The Contract's Estimated Value is $2.0 Million Plus a Percentage of Gross Box Office Receipts and Video on Demand Sales
PARK CITY, Utah and LOS ANGELES, Jan. 27, 2014 /PRNewswire/ -- StarStream Entertainment (OTCQB: SSET) ("StarStream" or the "Company") announced a distribution contract with A24 for its motion picture, "Life After Beth." The film, which debuted at the Sundance Film Festival on January 19th, was chosen among 12,218 submissions for the U.S. Dramatic Competition. The Hollywood Reporter calls "Life After Beth" a "perfectly pitched debut that should benefit greatly from word of mouth and, especially given the top-flight comic talents surrounding lead Dane DeHaan, won't appeal solely to fanboys at the box office."
To read the full review visit: http://www.hollywoodreporter.com/movie/life-beth/review/672401
"Life After Beth" falls under the zombie movie genre, a fast-growing multi-billion dollar segment of the movie industry, but is expected to reach a much wider audience than traditional zombie movie fans.
The entire zombie movie genre is estimated at $2 billion in the past decade alone for just the big titles, according to Jon Ogg, a Wall Street analyst who covers the movie industry. "Once you include the endless DVD sales and the various rentals and subscription services, the tally comes closer to $3 billion than $2.5 billion."
A24, a New York-based finance and film distribution company backed by Guggenheim Partners, with a string of recent box office hits, including, "The Bling Ring," and "Spectacular Now," will handle the distribution of "Life After Beth," in U.S. theaters as well as Video on Demand distribution.
Under the terms of the contract, StarStream Entertainment estimates it will receive $2.0 million in addition to a percentage of gross box office receipts, as well as Video on Demand sales in perpetuity.
The release date of "Life After Beth" is expected in late spring or early summer 2014. The Chief Executive Officer of StarStream Entertainment, Kim Leadford, commented, "We are thrilled about the opportunity to work with A24 on the distribution of our third motion picture. We expect "Life After Beth" to generate significant revenue for the company in 2014 and beyond."
The Company also expects to sign a foreign distribution contract with a major studio.
The "Life After Beth" distribution agreement follows StarStream's distribution deal with Lions Gate-Roadside Attraction for the Company's film "Life of Crime," which was acquired at the Toronto International Film Festival in September 2013 for a $2.5 million guarantee against domestic box office receipts, as well as a percentage of gross box office receipts and Video on Demand sales in perpetuity.
About StarStream Entertainment
StarStream Entertainment is a theatrical motion picture production and financing company focused on producing and financing edgy, high quality motion pictures with strong cast and lean budgets for a commercial audience. www.starstreamentertainment.com
Certain statements contained herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of those forward looking statements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such potential risks and uncertainties include, without limitation, the substantial investment required to produce and market films, increased cost to produce and market motion pictures, our ability to raise capital, unpredictability of the commercial success of our motion pictures, the effects of disposition of businesses or assets, technological changes and other trends affecting the entertainment industry, and the risk factors as set forth in StarStream's filings with the Securities and Exchange Commission.
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