London, England (PRWEB) December 17, 2012
Superior Venture Corp. ("Superior" or “the Company”) (OTCQB:SVEN) expects that its wholly owned subsidiary Ilustrato Pictures Limited (“Ilustrato”), will benefit from its unique revenue model that it is applying to multiple film projects. Based on its co-development structure, the Company would see guaranteed domestic Chinese distribution for all films and a potential for much higher gross box office percentages paid to the Company as compared to the North American film market.
Commenting on subsidiary company Ilustrato Pictures’ unique approach to co-developing Chinese made films with its participation, Superior Venture Corp. President and CEO Brian Hammond says, “Our model is designed to allow us to gain guaranteed distribution on the Chinese co-development projects we undertake. Co-productions are exempt from the strict Chinese quota system, giving them a huge advantage at the local box office. So each film would receive distribution in the massive and rapidly growing Chinese movie system, and could garner oversea distribution as well.”
“Chinese movie distribution is also more lucrative than in the US for movie productions,” Hammond adds. “The theatrical gross box office returns 33-38% to the film owners in China as opposed to an 18-25% averaged in the North American market. Our Company’s approach is built around the unique culture and revenue potential of the Chinese film industry, which we plan to become a significant player in.”
Ilustrato Pictures has recently announced multiple co-development deals with leading Chinese studios and has offered financing on several others.
Leading indications of China’s growth trend continue in the country’s box office, which is on track with another record box office weekend. 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 Ltd.; 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.