LOS ANGELES--(BUSINESS WIRE)--Writers Group Film Corp. (OTCQB: WRIT) through its wholly owned subsidiary Front Row Networks, Inc., a Los Angeles based concert production, and distribution company, is pleased to announce the acquisition of several hours of unique Metallica 3D & 2D concert video footage for distribution.
Front Row Networks will also be implementing state of the art technology to convert existing 2D 1080p footage into 3D for additional distribution. Metallica is arguably the most recognized American heavy metal band, and is the seventh biggest selling act in American history; selling more than 100 Million records grossing more than a Billion Dollars in revenue. Metallica has also won various awards throughout their career including (7) Grammy awards, (3) American Music awards, and (2) MTV Awards, increasing Front Row Networks’ projected revenue targets from both distribution and broadcast.
“By packaging new 3D events, and state of the art 2D 1080p conversion to 3D, Front Row Networks can create the preeminent distribution, and broadcasting channel for what has become one of the hottest sectors in entertainment,” says John Diaz, CEO of Front Row Networks. Additionally, “We have achieved the first step of acquiring the footage, and conversion technology, and once we have 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 Front Row,” says Diaz.
The marketplace is demanding 3D products, at an unprecedented rate and Front Row Networks plans to fill the void by acquiring existing catalogues 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 the United States, Western Europe, South America and Asia. Following a US theatrical run, the 3D concerts are then licensed to TV broadcasters and DVD retailers.
Cautionary Note Regarding Forward-Looking Statements
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 S-1 filed July 15, 2009.