NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. ( ABQQ), an intellectual property (IP) and movie investment and licensing firm, today announced business updates.
Achieved net profitability in latest quarter ending on May 31, 2024.
**Financial Performance**:
- Recent financial reports indicate a focus on increasing revenues while reducing expenses, leading to net profitability. For the period ending May 31, 2024, the Company reported a significant increase in revenue and a notable reduction in net loss compared to the previous year, showcasing a business model that's starting to see financial success.
On August 17, 2024, fully repayment the loans from the Company’s CEO, no more debts.
On August 19, 2024, the Board of Directors decided to cancel the Company's common stock 1-for 2,000 reverse splits.
The Company operates primarily in the entertainment and intellectual property (IP) sectors. Embedded marketing services have penetrated it.
**Video Streaming Service**:
- ABQQ has launched a video streaming service under the brand name ABQQ.tv, which targets the global video streaming market. This service features unique content like Chinese movies, television shows, and drama series, aiming to generate revenue through a hybrid subscription and advertising model.
- ABQQ has ventured into video streaming services, which could imply opportunities for product placement or embedded marketing within their content, especially given their focus on movie licensing and streaming. This service could be leveraged for embedded marketing where brands or products are integrated into the movies or shows they stream or produce.
**Film Investment and Distribution**:
- ABQQ has been involved in the distribution of movies, on August 2024 releases for films like "THE ONE", "Wishes Come True", and "Who is CEO" globally online and in theaters. Those films deal with distributor for a mainland of China license with a total license fee of USD 804,000.
- ABQQ's core business involves acquiring and licensing intellectual property, particularly movies. This naturally aligns with the concept of embedded marketing where brands can be placed within the content of these movies or related promotional materials.
**ABQQ Movie Theatre**:
- To theatrical exhibition of Universal motion pictures and/or such other audiovisual content as Universal may elect to distribute (whether by film print, digital cinema package (“DCP”), DVD, by wireless, or other method now known or hereafter created) (each such motion picture or other audiovisual content) by AB Cinemas NY, Inc.
- Obtain a license for United Artists Releasing motion pictures for exhibition at AB Cinemas NY theatres. United Artists Releasing, founded in 2019, is a U.S. theatrical releasing company built upon the legacy of the iconic United Artists motion picture studio, providing a home where filmmakers are supported by thoughtful approaches to marketing, publicity and distribution. United Artists Releasing offers content creators an alternative distribution option outside of the studio system, and in addition to supporting Annapurna, MGM and Orion film slates, the company also releases third-party films. United Artists Releasing is a joint venture between Metro-Goldwyn-Mayer (MGM) and Annapurna Pictures (Annapurna). And also engage licensed in theatrical exhibition content from other distribution companies, like Paramount Pictures, UNIVERSAL, DISNEY, SONY Pictures.
- Overview of ABQQ's reputation for hosting high-profile movie premieres.
- Birthday Parties: Offer special packages including a private screening, party rooms, or themed decorations. Highlight any special concessions like discounted popcorn or drinks.
- Corporate Events: Discuss how the theatre can be used for business meetings, product launches, or team-building activities. Making here's an option for presentations and we do set up for a more formal event with catering.
- Film Screenings: We available for a new release or a classic, mention it's a private screening or part of a festival. And meet-and-greet opportunities with filmmakers or actors also.
- Special Events: For unique events like game nights, where the theatre's audio-visual capabilities might be used for gaming or live events, describe how the setup enhances the experience.
**Intellectual Property and Licensing**:
- NFT Movie and Music Marketplace (NFT MMM)**: ABQQ owns the IP for this platform, which involves licensing agreements for its use. For instance, they've entered into agreements where other companies pay for the right to develop and commercialize this platform, with significant license fees involved. This includes a deal with a motion pictures group for a worldwide license for two years with a total license fee of USD 1.368 million.
Unique Market Position
- ABQQ positions itself as a player in the entertainment industry, focusing not just on traditional distribution but also on leveraging new technologies like NFTs for movie and music content, aiming to create new revenue streams through digital innovation.
- ABQQ's business strategy revolves around leveraging intellectual property in the entertainment sector through direct content creation, distribution, and innovative licensing models, particularly in the burgeoning field of NFTs. Their approach combines traditional media business with modern digital trends, aiming for profitability through diverse revenue streams.
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 like 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
[email protected]
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