Devine Entertainment Forms Digital Content Group to Accelerate Revenues in Fast-Growing Market for Online Distribution of Film and TV Programming.New Digital Unit to Focus on Monetization of Devine Proprietary Library in Multi-Billion Dollar Video-on-Demand, Internet and Emerging Digital Distribution Channels TORONTO -- Devine Entertainment Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DVNNF), seeking to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the burgeoning global demand for high quality film and television content, has announced the establishment of an online content distribution unit created to accelerate revenue growth in the expanding marketplace for digital download VoD - video on demand ), Internet, wireless and mobile communications, and other new electronic distribution channels. The creation of the Digital Distribution Group is consistent with Devine's overall business strategy to maximize sales and revenues of its award-winning proprietary film and television library. The initiative comes as the entertainment industry continues to experience a technology convergence revolution that is unifying traditional entertainment channels in film and home entertainment with mobile communications technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry and broadband computer technologies. "Video-on-demand, IP-based channels and other novel digital solutions will be the most important growth areas for the global entertainment industry in the coming years, and we intend to fully monetize our proprietary library to meet this projected demand for content," said David Devine, President and Chief Executive Officer of Devine Entertainment. "Our Digital Content Group will work across every level of the Company to maximize synergies to best profit from the enormous potential of these digital distribution channels." Double-digit growth is anticipated for digital and mobile spending in each territory during the next five years, rising to $153 billion by 2011, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry analyst PricewaterhouseCoopers Global Entertainment and Media Outlook. Spending related to the distribution of entertainment and media on convergent platforms (convergence of the home computer, wireless handset and television) is also growing at double-digit rates and will exceed 50% of global spending by 2011, according to PricewaterhouseCoopers. Devine has commenced negotiations with the world's leading digital and VOD distribution companies. Devine's primetime mystery series "Across the River to Motor City It may contain non-definitive information based on commercials, a website or interviews. " will premier on November 22, 2007, on one of Canada's major television networks. The series marks Devine's expansion into primetime and adult age demographics The attributes of people in a particular geographic area. Used for marketing purposes, population, ethnic origins, religion, spoken language, income and age range are examples of demographic data. , building upon its award-winning success as a producer of family and children's film and television. Revenue and Earnings Forecast Devine recently announced revenue and earnings guidance for the first three quarters of calendar year 2007, projecting significant revenue growth of CAN $5.5 million, representing a 1600% increase over the $363,529 for the comparable period in 2006. The Company also projected earnings in excess of $1 million for the first three quarters of 2007, a significant increase over the $529,614 loss reported for the same period in 2006. 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 DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. 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 Gemini Awards are an annual awards ceremony in Canada. First awarded in 1986, the Geminis celebrate the achievements of TV members of the Academy of Canadian Cinema and Television. Essentially, it presents awards for the best television productions in Canada. . The Company partners with leading international distributors, broadcasters and co-producers, such as Sony BMG Sony BMG Music Entertainment, Inc. is the result of a 50/50 joint venture between Sony Music Entertainment (part of Sony) and BMG Entertainment (part of Bertelsmann) completed on August 5, 2004. , Rogers Media Rogers Media Inc is a subsidiary of Rogers Communications Inc., which owns Canada's largest publishing company, Rogers Publishing Limited, which has more than 70 consumer and business publications. Rogers Media Inc. 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 NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTCBB market in the U.S. under the symbol DVNNF. The Company's corporate website is www.devine-ent.com. For investor-specific information and resources, visit http://www.trilogy-capital.com/tcp/devine. To view current stock quotes and news, visit http://www.trilogy-capital.com/tcp/devine/quote.html. To view an investor fact sheet about the company, visit http://www.trilogy-capital.com/tcp/devine/factsheet.html. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc 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 Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities 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. |
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