- The Movie Studio’s MovieSodes feature allows the company’s film watchers to submit virtual auditions which are then taken into consideration by the company’s internal casting agents
- With 2020’s global film box office revenues expected to fall by over 50%, movie studios have been trying to devise strategies by which to attract new viewers
- The growth in demand for interactive media & entertainment is best illustrated through the video games industry, with gaming revenues set to outpace film revenues by over 300% in 2020
- The Movie Studio’s innovative features will bring interactive media to the film industry, enabling their app subscribers to become the stars of their own show
Though fads come and go, society’s obsession with film celebrity has never waned. Many a film fanatic admits to harboring fantasies of starring in movies, and one company is making that dream a reality as a component of its unique growth strategy. The Movie Studio (OTC: MVES) has devised a method by which to provide budding film stars and actors the unique opportunity to participate in the shooting of a movie through the submission of a virtual ‘audition’. Movie studios have historically sought to differentiate themselves through the cultivation of unique selling points – however, until recently, none have succeeded in making films a truly interactive experience for their viewers.
With the traditional film industry being actively disrupted through the emergence of video-on-demand (“VOD”) platforms, legacy movie studios have been hard-pressed to attract new viewers on a consistent basis. Rather, they have tended to depend on re-enticing past viewers through the creation of sequels and franchise films (e.g. Marvel’s Avengers series); in fact, 5 of the top 10 domestic box office hits in the United States in 2019 belonged to one of these two categories (http://ibn.fm/sZ0HZ). The fate of the global box office in 2020 has failed to present a rosier picture – financial analysts have recently slashed their 2020 box office revenue forecasts for AMC Theatres, the world’s largest movie theater chain, by 55% to 60% relative to 2019 (http://ibn.fm/ZB1qw) due to wide-scale cinema closures on the heels of the COVID-19 outbreak.
With revenues derived from movie theaters and box office launches comprising only 42% of the average consumer’s annual film-related expenditure in the United States (http://ibn.fm/mkwV7), traditional filmmakers have found themselves hard-pressed to innovate and create new business models to attract new viewers – an area in which The Movie Studio’s new interactive features have distinguished themselves.
The rise of interactive experiences can perhaps best be encapsulated by the global video games market, which has risen to become a $155 billion industry in 2020 and is expected to grow to between $300 billion and $450 billion over the next five years (http://ibn.fm/MzfmV). Putting those figures into perspective, total box office revenues for Hollywood totaled only $53.6 billion in 2019—a fraction of the video game industry’s total (http://ibn.fm/eZTiD).
The Movie Studio has sought to capitalize on the growth in demand for interactive entertainment through the introduction of an innovative concept called the ‘MovieSodes’ to its proprietary video-on-demand platform (http://ibn.fm/aLGJk). As explained by MVES president and CEO Gordon Scott Venters, the MovieSodes feature allows the company’s app-users to “upload a video clip… and send it to our producers for consideration for our upcoming feature films. We’re going to fracture motion picture manufacturing into shooting on the weekends… Over 10 weeks, we smash that content together and end up with a feature film for global distribution” (http://ibn.fm/SNxEN). According to Venters, this innovative ‘virtual audition’ approach allows individuals to “get involved with a feature film while it’s being manufactured” rather than being cast ahead of time.
With film studios around the world struggling to cope with the fallout from the pandemic and insulate themselves from the rise in prominence of VOD platforms, The Movie Studio Inc. has taken a crucial step in attracting viewers to its movies – by giving the average film watcher the unique opportunity to be a star in their own production.
For more information, visit the company’s website at www.TheMovieStudio.com.
NOTE TO INVESTORS: The latest news and updates relating to MVES are available in the company’s newsroom at http://ibn.fm/MVES