We believe that the 25% to 40% plus growth that resulted in record box office for China in 2012 directly benefits our Company. - Brian Hammond, President, Superior Venture Corp.
London, England (PRWEB) December 10, 2012
Superior Venture Corp. ("Superior" or “the Company”) (OTCQB:SVEN) management says that its wholly owned subsidiary Ilustrato Pictures Limited (“Ilustrato”), will benefit from the continued growth of the domestic Chinese movie industry, which has experienced 25% to 40% plus annual growth over the past several years and record box office in 2012.
Commenting on the figures, Superior Venture Corp. President and CEO Brian Hammond says, “We are seeing a huge demand for Chinese domestic films to fill the roughly ten new movie screens that open in China daily, making it the fastest growing and second largest movie market on the world. The leading Chinese studios that we have developed relationships with are looking at multiple projects, all of which could use the co-development and production capabilities of our subsidiary, Ilustrato Pictures. We believe that the 25% to 40% plus growth that resulted in record box office for China in 2012 directly benefits our Company. We are out to capture significant co-development projects that utilize our talented writing, development and production resources. With that kind of growth, we could see multiple large scale projects developed within 12 to 24 months.”
Ilustrato recently announced multiple co-development deals with prominent Chinese studios and has offered financing on several others. The Company has been developing relationships with Chinese domestic studios over the past several years and is now leveraging those assets.
Chinese co-productions with outside companies are exempt from the strict Chinese quota system, giving them a huge advantage at the local box office. In the case of Ilustrato, the Company expects guaranteed domestic distribution on all co-development projects.
An Ernst & Young report on China recently released suggests the entire media and entertainment industry in the world's most populous nation is due to grow by 17% a year until 2015. According to the State Administration of Radio, Film and TV (SARFT), the total Chinese box office take to date in 2012 is on track for nearly US $2.5 billion by year’s end.
About Superior Venture Corp.
Superior Venture Corp. is a US based public company. Its wholly owned subsidiary, Ilustrato Pictures Limited is an international motion picture development and production company seeking to co-create feature film projects with Chinese film companies. All of its projects are designed to be financed, produced and distributed in partnership with domestic Chinese companies. Ilustrato Pictures has developed extensive infrastructure and distribution networks in China –the fastest growing and most dynamic movie market in the world.
For more information see http://www.superiorventurecorp.com
Tel: +44 (0) 207 543 7720
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of Superior Venture Corp.. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding the advantages of Superior Venture’s products and services, anticipated advantages resulting from the merger, whether funding anticipated from completing the merger will result in successful completion and development of the film development component of the business and its market acceptance, the business strategy, plans and objectives of the Company and Ilustrato Pictures Limted; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects", “intended” or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results and ultimate corporate actions could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the perception of investors of the newly merged company and their willingness to fund this newly public company, the demand for films and film development, new products and services developed by other companies, market share garnered by competitors, ability to maintain customer and vendor relationships, and those factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov), among other factors. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.