AB INTL GROUP Announced Fencing Film “THE ONE” Premiere for Screening on Cinemas in China
Rhea-AI Summary
AB International Group Corp. (OTC: ABQQ) has announced the premiere of its fencing film 'THE ONE' (YiJianZhongQing) in Chinese cinemas. The company has secured a distribution agreement with Hua Xia Film Group, a leading nationwide distributor in China, for the movie's screening starting August 1, 2024. ABQQ has licensed the film to the distributor for a minimum fee of $300,000 for the mainland China market.
The announcement highlights China's significant position in the global movie industry, ranking second in box office revenue and movie production. In 2023, China held a 24% market share in the global movie industry. ABQQ, as an intellectual property and movie investment firm, operates AB Cinemas in NY and owns ABQQ.TV, an online streaming platform generating revenue through subscriptions and advertising.
Positive
- Secured distribution agreement with leading nationwide distributor Hua Xia Film Group
- Minimum license fee of $300,000 for screening in mainland China
- Expansion into the world's second-largest movie market
- Diversified revenue streams through physical theaters and online streaming platform
Negative
- None.
NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm, announces its fencing film “THE ONE” (YiJianZhongQing), its distributor has executed definitive agreement with Hua Xia Film Group, the leading nationwide distributor in China, to distribute the movie to be screened in cinemas nationwide beginning on 1st day of August 2024. The starring cast along with the director will attend the press conference to kick off the roadshows nationwide. ABQQ has licensed the movie to the distributor for a minimum license fee of
China is one of the leading countries in the global movie industry. China is currently ranked the number 2 country in the world for total money made in box office and number of movies produced. In 2023 China had
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual property. We are engaged in acquisition and distribution of movies. The Company operates AB Cinemas, physical movie theaters currently in NY with plans to expand nationwide (www.abcinemasny.com). The company also owns ABQQ.TV which is a movie and TV show online streaming platform. ABQQ.TV generates revenue through a hybrid subscription model and advertising model similar to other online streaming platforms.
For additional information visit www.abqqs.com, www.abcinemasny.com and www.ABQQ.tv.
Forward-Looking Statements
This press release contains “forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company’s management team and statements relating to the Company’s transformation, financial and operational performance including the acceleration of revenue and margins, and the Company’s overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Group markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Investor Relations Contact:
Charles Tang
(852) 2622 2891
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d387d26-919d-48aa-bc30-ed816b9a7f02
https://www.globenewswire.com/NewsRoom/AttachmentNg/4cda92af-fbf7-486d-b877-282b5d612d68
https://www.globenewswire.com/NewsRoom/AttachmentNg/2dfa55db-7fbc-42f9-902d-b2041029b946
FAQ
When will AB International Group's film 'THE ONE' premiere in Chinese cinemas?
What is the minimum license fee ABQQ will receive for 'THE ONE' in the mainland China market?
Who is distributing ABQQ's film 'THE ONE' in China?
What was China's market share in the global movie industry in 2023?
