Dec 7, 2016, Press Release
- Chinese Box Office expected to surpass the US by 2017, China has over 400m online video users -
IRVINE, CA, Dec. 7, 2016 - Broadside Enterprises, Inc. (OTC: BRSE) ("Broadside" or the "Company") today announced that its Framepool AG ("Framepool") subsidiary, a leading provider of stock footage to TV, film and commercial producers, has entered into an agreement with ImagineChina (www.imaginechina.com), one of the largest photo and video agencies in China, Hong Kong and Taiwan, to represent Framepool's content to the rapidly expanding Chinese marketplace.
The Chinese theatrical box office alone is expected to grow to over $10 billion in revenues by 2017 and surpass the United States to become the largest market of its kind in the world. Likewise, over 400 million online video users in China with increasing access to high-speed Internet are creating an enormous demand for mobile and web content.
As part of the new agreement with ImagineChina, Framepool has launched a Chinese language version of its website (http://footage.framepool.com/zh/home/).
Framepool's market expansion into China is being supported by the program "Export Bavaria 3.0 – Go International" of the German state of Bavaria, where Framepool is headquartered.
Additional information about Broadside Enterprises can be found in the Company's reports and filings at www.OTCMarkets.com, on the Broadside Enterprises website at www.broadside-enterprises.com and on Twitter at @brse_news.
About Broadside Enterprises, Inc.:
Broadside Enterprises, Inc. (OTC: BRSE), based in Irvine, California, is a publicly traded company with two divisions: Entertainment and Ventures.
As part of its entertainment division, the Company owns 86.6 percent of the outstanding shares of Framepool AG (www.framepool.com), a company with three operating subsidiaries in the United States, the United Kingdom and France and staff in Munich, Los Angeles, New York, London and Paris. Framepool collects, selects and prepares high quality video footage from TV, movie or commercial film producers and sells licenses to its growing library of over one million clips, one of the world's largest, to its 3,500 active customers, among them the most prominent advertising agencies, broadcasters, film studios and production companies. It also provides rights clearance and indemnification services, has commenced providing production services for footage intensive documentaries and is moving into the licensing of stock photography.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.