New Home Entertainment Division for Nelvana
TORONTO, Sept. 25 /PRNewswire-FirstCall/ - Corus Entertainment Inc. (TSX: CJR.B - News; NYSE: CJR - News) today announced the creation of a new Home Entertainment Division for its Production, Distribution and Consumer Products subsidiary, Nelvana Limited. The move is part of a new market-driven operating strategy for the internationally acclaimed animation company, known for such wildly popular properties as Beyblade, Babar and Franklin.
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According to market research data from Video Store magazine, U.S. revenue from home video sales and rentals is on track to end the year at US$23.3 billion, an 11% increase over 2002 spending. DVD sales are driving that growth, accounting for an estimated 88% of all U.S. consumer video sales in 2003.
With more than 2,400 titles in Nelvana's library and the explosive market for VHS/DVD showing signs of continued growth through 2004, the Company recently signed two strategic partnerships for the distribution of back- catalog titles in the United States and United Kingdom.
Texas-based FUNimation Productions, licensor of current hot anime brands including Dragon Ball Z and Yu-Gi-Oh!, will release 44 of Nelvana's library titles in the U.S. market, including Redwall, Tales of the Crypt Keeper, Pecola and Molville Mysteries. The deal represents tremendous opportunity for Nelvana, as FUNimation also becomes a strategic partner on prospective new anime productions as well as a potential co-production partner.
In the U.K., leading home entertainment distributor Maverick has picked up the rights to market 33 Nelvana library titles, including Little Bear, Timothy Goes to School, and Maggie and the Ferocious Beast, to major retailers in Britain. Maverick's specialized focus and market knowledge will ensure an aggressive U.K. placement strategy for Nelvana properties.
"We are extremely excited to launch Nelvana Home Entertainment as we continue to build out multiple revenue platforms that maximize our brand building and enterprise value globally," said Doug Murphy, Executive VP of Business Development for Nelvana. "We will continue to source partners in other key territories to leverage the wealth of international opportunity in this market."
With these significant library deals in place, Nelvana's new release slate has already attracted strong interest from major North American studios. The company is currently in negotiations with prospective partners that are well positioned to exploit Nelvana brands and products and ensure that they garner retail attention across multiple categories.
Corus Entertainment is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. Corus also owns Nelvana Limited, an internationally recognized producer and distributor of children's programming and products. The company's other interests include music, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) Exchanges. Corus' Web site can be found at corusentertainment.com.
Certain statements included in this presentation constitute "forward- looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Such factors include, among others, the following: the impact of conditions in the entertainment, information and communications industries; risks associated with the economic, political and regulatory policies of local governments and laws and policies of Canada; the potential impact of increased competition in the Company's markets; and other factors which are described in the Company's filings with the Securities and Exchange Commission.
ADVERTISEMENT
According to market research data from Video Store magazine, U.S. revenue from home video sales and rentals is on track to end the year at US$23.3 billion, an 11% increase over 2002 spending. DVD sales are driving that growth, accounting for an estimated 88% of all U.S. consumer video sales in 2003.
With more than 2,400 titles in Nelvana's library and the explosive market for VHS/DVD showing signs of continued growth through 2004, the Company recently signed two strategic partnerships for the distribution of back- catalog titles in the United States and United Kingdom.
Texas-based FUNimation Productions, licensor of current hot anime brands including Dragon Ball Z and Yu-Gi-Oh!, will release 44 of Nelvana's library titles in the U.S. market, including Redwall, Tales of the Crypt Keeper, Pecola and Molville Mysteries. The deal represents tremendous opportunity for Nelvana, as FUNimation also becomes a strategic partner on prospective new anime productions as well as a potential co-production partner.
In the U.K., leading home entertainment distributor Maverick has picked up the rights to market 33 Nelvana library titles, including Little Bear, Timothy Goes to School, and Maggie and the Ferocious Beast, to major retailers in Britain. Maverick's specialized focus and market knowledge will ensure an aggressive U.K. placement strategy for Nelvana properties.
"We are extremely excited to launch Nelvana Home Entertainment as we continue to build out multiple revenue platforms that maximize our brand building and enterprise value globally," said Doug Murphy, Executive VP of Business Development for Nelvana. "We will continue to source partners in other key territories to leverage the wealth of international opportunity in this market."
With these significant library deals in place, Nelvana's new release slate has already attracted strong interest from major North American studios. The company is currently in negotiations with prospective partners that are well positioned to exploit Nelvana brands and products and ensure that they garner retail attention across multiple categories.
Corus Entertainment is a Canadian-based media and entertainment company. Corus is a market leader in both specialty TV and Radio. Corus also owns Nelvana Limited, an internationally recognized producer and distributor of children's programming and products. The company's other interests include music, television broadcasting and advertising services. A publicly traded company, Corus is listed on the Toronto (CJR.B) and New York (CJR) Exchanges. Corus' Web site can be found at corusentertainment.com.
Certain statements included in this presentation constitute "forward- looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. Such factors include, among others, the following: the impact of conditions in the entertainment, information and communications industries; risks associated with the economic, political and regulatory policies of local governments and laws and policies of Canada; the potential impact of increased competition in the Company's markets; and other factors which are described in the Company's filings with the Securities and Exchange Commission.
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