- "The Best Day Ever" most successful German release of the year
- Core business develops as expected
- PANTAFLIX launch coming soon
Kronberg im Taunus, July 26, 2016 –PANTALEON Entertainment's box-office hit "The Best Day Ever" is the most successful German film released this year so far. The popular comedy from the PANTALEON shingle sold 1.65 million tickets at the German box office alone, grossing €13.53 million, the number one domestic production in Germany this year to date.
In its core business activities, PANTALEON marked a watershed in German video-on-demand production, with the start of principal photography on series "You are Wanted" for Amazon Prime Video, in co-production with Warner Bros. "You are Wanted" is the first German production commissioned by a major streaming video provider ever, underscoring PANTALEON's pioneering role. Also, PANTALEON Group is producing its first made-for-TV movie with "Jack the Ripper" (WT) for ProSieben Sat1.
These two productions alone represent revenue in the double-digit millions of Euros for PANTALEON in the first two quarters of 2016. Since they won't appear in the books until completion in the second half of the fiscal year, they have not impacted sales and other income from normal business activity in the books, which amount to €2.0 million, mainly consisting of revenue from TV rights to "Joys of Fatherhood", already at an advanced stage of the exploitation chain.
"You are Wanted" and "Jack the Ripper" (WT) will not be booked as revenue until after completion, with shooting starting in late May, so they are listed as "Uncompleted Services" in the semi-annual report, with a total volume of €5.7 million.
Especially due to the time and cost efficient development of PANTAFLIX and preproduction costs for the end of May started production the company achieved earnings from ordinary business activities of -2.5 million Euro (previous year: -0.95 million euros). This result exceeds the own plans of the company and external analysts.
"Along with the operational successes of our core business in the first two quarters, we are very proud to have achieved all the technical prerequisites to complete our innovative, cloud-based VoD platform PANTAFLIX," says PANTALEON Entertainment CEO Dan Maag. "Along with the profits expected from our core business in the second half of 2016, we also await great things from the eagerly anticipated launch of PANTAFLIX. The positive reactions from the film industry make us very bullish about the prospects for a successful launch of this high-growth new business area, which will revolutionize our company and a whole sector when it succeeds."
You can find the complete semi-annual report on the company website in the coming days at group.pantaleonentertainment.com/group/investor-relations/financial-reports/?lang=en .
PANTALEON Entertainment AG:
PANTALEON Entertainment AG is a media company with a strong focus on cinema. The core activity of PANTALEON Entertainment AG and its subsidiaries is the development and production of feature films as well as the exploitation of the rights arising therefrom, which are usually marketed by worldwide leading film distributors on a national and international basis along many steps of a chain of rights designed to best exploit them. The basis of the PANTALEON Group was formed in 2009 with the founding of PANTALEON Entertainment GmbH in Berlin. Today, 2016, PANTALEON belongs to the leading German companies in the production of feature films and innovative entertainment formats. The company is headquartered in Kronberg im Taunus. Feature films are developed at its offices in Berlin, Munich and Frankfurt am Main, the consistent quality of which makes them amongst some of the most successful national productions in recent years. In 2016, PANTALEON starts the global roll-out of its innovative cloud-based Video-on-Demand (VoD) platform, PANTAFLIX.
Disclaimer:
This publication constitutes neither an offer to sell nor an invitation to buy securities or stocks. In the private placement only selected investors are addressed, who are specifically not US persons within the meaning of the US Securities Act of 1933. This release may contain forward-looking statements and information identified by words such as 'expects', 'wants', 'anticipates', 'intends', 'plans', 'believes', 'seeks', 'estimates', 'will' or similar terms. Such forward-looking statements are based on our current expectations and certain assumptions, which may involve a number of risks and uncertainties. The actual results achieved by PANTALEON Entertainment AG may substantially differ from these forward-looking statements. PANTALEON Entertainment AG assumes no obligation to update these forward-looking statements or revise them due to differing or unexpected trends.