Writers Group Film Corp. (OTCQB:WRIT) and its wholly-owned subsidiary Front Row Networks, Inc., a Los Angeles-based concert production and distribution company, announces today that it has commenced the process of converting its existing 2D catalogue of music concert video footage into 3D format. The Company is in negotiations to partner with one of the leading 3D post-production services companies to provide the conversion services. The Company will supplement its existing 3D footage with up-converted 2D footage, implementing its state of the art technology and editing processes to provide unique and best-of-class entertainment content.
Global box office revenue from 3D screens recorded over $6.1bn in 2010, more than double the same total in 2009. Globally, 3D screens generated 19.3 per cent of worldwide box office. “By packaging new 3D events, with state of the art 2D 1080p conversion to 3D, Front Row Networks can create the preeminent distribution, and broadcasting channels for what has become one of the hottest sectors in entertainment,” says Bob Johnston, Senior VP of Business Development. Additionally, “Once we have converted the footage and secured all applicable distribution rights, distributing the event through our channels will generate revenues for both the Company and the Artist creating a steady stream of products for the Company,” says Diaz.
The marketplace is demanding 3D products, at an unprecedented rate and Front Row Networks plans to fill the void by acquiring existing catalogue to supplement its new productions, and convert 1080p 2D to 3D. The current worldwide phenomenon surrounding 3D, combined with the strong-performing live concert business, presents a unique opportunity for Front Row Networks to provide an inexpensive, state-of-the-art, live 3D concert experience to anyone, anywhere in the world.
Front Row Networks is a live concert production and distribution company which produces live concerts in 3D for initial digital broadcast into movie theaters in North America. Following their theatrical run, the films are then licensed to US and international broadcasters, pay channels, PPV markets, DVD and Blu-Ray distributors, and sold on the internet as downloads.
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Statements in this press release regarding the company’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. The company wishes to caution readers not to place undue reliance on such forward-looking statements and as such, speak only as of the date made. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in the Company’s latest 10-K filed August 24, 2011.