Liquid Media Group Ltd. - Exhibit 99.1 - Filed by newsfilecorp.com
Liquid Media Positioned for Leadership in
Digital Entertainment
Chairperson’s Quarterly Review
Vancouver, September 19, 2018 - Liquid
Media Group Ltd. (Nasdaq: YVR), referred to herein as "Liquid" or the
"Company", delivered a quarterly update for shareholders today, September 19,
2018.
Dear Shareholders of Liquid Media,
Over the past few months, our year-long journey to complete the
Leading Brands arrangement has been concluded successfully. With our corporate
transformation behind us, we are now focused on our quest to become a leader in
the burgeoning virtual, augmented and mixed reality (VAMR) space.
Key Achievements
The advancement of technology is making virtual reality (VR),
animation and video games available to the masses everywhere they go. Liquid
Media is prepared for this moment.
We are incredibly proud of the assets that form the foundation
of our vertically integrated global studio. Liquid holds a majority (51%)
interest in Majesco Entertainment Company
(“Majesco”), an innovative video game developer, marketer and
publisher with more than 25 years of history in the interactive
entertainment industry. Majesco has published hundreds of video games, including
more than 17 titles since 2010 via digital networks such as Xbox Live Arcade,
PlayStation Network and Steam, and for mobile devices and online platforms.
Liquid also holds a 49% interest in Waterproof Studios Inc. (“Waterproof”), a digital
production company that provides industry-leading computer-generated imagery,
visual effects and animation content for video games, traditional film and TV
studios, distributors and streaming service providers. Waterproof clients
include Sony, SEGA, Warner Brothers and more.
On the intellectual property front, we are equally proud of
Liquid’s feature film business, which includes
a series of agreements covering various stages of financing, development and/or
co-production. Our projects include Household Pests, a feature animation
film by Sergio Pablos, the creator of Despicable Me, Tarzan and
Stuart Little, My Haunted House and Ophelia.
In the next leg of our journey, we plan to continue creating
incredible film and gaming content. We are also excited to leverage proprietary
Virtual Studio™ technology to bring our facilities and other mature,
cutting-edge, local production groups that we plan to acquire into a single,
powerful Liquid entertainment network.
We see several benefits to these “Liquid Everywhere” branded
facilities.
First, they will contribute to our plans to consolidate
Vancouver’s fragmented film and entertainment market, where more than US$2.9
billion is spent annually on film and television production services.
Despite Vancouver’s large entertainment market, the city’s
production process – from inception to distribution – is highly fragmented. By
acting as the premiere production hub, our “Liquid Everywhere” facilities will
streamline this process, create efficient, secure workflows and meet growing
global demand for content, including VAMR, by producing projects in Vancouver
for a worldwide audience.
More simply put, creative professionals will have the ability
to access the same content-creation tools and storage from any “Liquid
Everywhere” location or virtually.
Professionals working outside of a Liquid site – from
soundstages to coffee shops – can leverage our technology to create and
orchestrate content using rented applications, computers and storage running in
the cloud. All they need is a laptop and modest broadband connection.
Growth Strategies
Liquid plans to continue offering these “studio as a service”
capabilities from anywhere through high-speed, secure access so that individual
digital artists, teams, special effects companies and studios can complete their
design and render work using the latest applications and most powerful servers.
They can rent the software they need for as long as they need it – even if it’s
just for one day.
We also envision that this technology via specially equipped
facilities, which are already being used by Netflix, Sony as well as Amazon
Productions and their network of related production companies, will be a strong
area of growth for Liquid.
By leveraging these capabilities in-house, Liquid intends to
continue producing and distributing content for all mediums of entertainment,
from traditional theatrical releases and television to online streaming, gaming
and virtual reality spaces. A new portfolio of games is planned across all
platforms, including a mix of licensed and wholly owned intellectual properties.
Majesco’s history of working with the worldwide development community and
relationships with some of the largest entertainment licensors and intellectual
property owners is expected to help identify new content and contribute to the
Company’s success.
With an expectation of near-term monetization, we also continue
to invest in gaming intellectual properties via Majesco’s recent co-publishing
and production relationship with Throwback
Entertainment (“Throwback”), a Toronto-based game
studio and close strategic partner that has 190+ titles to date.
Liquid also plans to further leverage existing partnerships to
increase sales of our titles in the Chinese video game market.
We expect to make ongoing announcements on developments in the
coming weeks and months.
Industry Outlook
As noted in a recent report1 from PwC, convergence
is king and the industry has entered a dynamic new phase. Media and
entertainment is expected to continue evolving and accelerating. Businesses need
to be integrated and actively engaged across all platforms to satisfy consumer
demand and meet market expectations.
By 2022, Statista estimates that virtual
and augmented reality combined will generate US$209.2-billion in sales
revenues.
On the gaming front, Statista forecasts that the global video game market will surpass US$138-billion by
2021.
Liquid is well positioned for success in this changing
environment because of our cross-platform operations and activities aimed at
consolidating the fragmented Vancouver market.
We also believe we are well positioned to rapidly and
efficiently integrate new facilities and expand our reach into new markets.
In summary, Liquid’s well-diversified portfolio of integrated
digital production companies is already helping content producers across
industries and genres bring next-generation stories to life for screens of all
sizes and types. As demand for intellectual property to entertain the masses
continues to skyrocket, we are excited to continue expanding our network of
shared services to enable the creation of world-class content and entertainment
options.
Thank you for your continued support and for the trust you have
placed in Liquid Media Group.
On behalf of the Board of Directors,
Joshua Jackson, Chairman
About Liquid Media Group.
Liquid Media Group Ltd. (“Liquid” or the “Company”) is a media
and entertainment company connecting mature production companies powered by
StratusCore™ into a vertically integrated global studio, producing content for
all platforms through its network of shared services. Additional information is
available at www.LiquidMediaGroup.co.
1 “Perspectives from the
Global Entertainment & Media Outlook 2018-2022,” PwC, June 5,
2018, pp. 4-11.
| Further information: |
| |
| Daniel Cruz |
| Liquid Media Group Ltd. |
| +1 (416) 489-0092 |
| pg@liquidmediagroup.co
|
| |
| Media requests: |
| |
| Adam Bello |
| Media & Analyst Relations Manager |
| Primoris Group Inc. |
| Office: +1 (416) 489-0092 x 226 |
| pg@liquidmediagroup.co
|
Forward Looking Statements
This news release contains certain forward-looking information
as defined in applicable securities laws (referred to herein as "forward-looking
statements"). Forward-looking information is typically identified by words such
as: "believe", "expect", "anticipate", "intend", "estimate", "planned" and
similar expressions, or are those, which, by their nature, refer to future
events. More particularly and without limitation, this news release contains
forward-looking statements and information concerning the ability of the Company
to consolidate the fragmented film and entertainment market, acquire new
intellectual property, achieve near-term monetization of assets and
partnerships, and maintain a continued listing of its common shares on Nasdaq,
which is dependent on the Company obtaining a positive decision from the Nasdaq
Hearing Panel as well as obtaining any necessary extensions of time for becoming
compliant with the Nasdaq criteria for initial listing. The Company can provide
no assurance concerning the outcome of the Nasdaq hearing process or its ability
to obtain any necessary extensions, and there can be no guarantee that the
Company’s stock will not be delisted from the Nasdaq. These forward-looking
statements reflect the expectations or beliefs of management of the Resulting
Issuer based on information currently available to it. Forward-looking
statements are subject to a number of risks and uncertainties, including those
detailed from time to time in filings made by the Company with securities
regulatory authorities, which may cause actual outcomes to differ materially
from those discussed in the forward-looking statements.
The forward-looking statements and information contained in
this news release are made as of the date hereof and the Company undertakes no
obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
