entertainment stocks

Entertainment Studios Motion Pictures (ESMP) is a theatrical distribution division of Byron Allen’s global media and technology company Entertainment Studios.  The company announced the launch of its new international sales and distribution division: Entertainment Studios Motion Pictures International (ESMPI). ESMPI has released an alliance with FilmNation Entertainment.

FilmNation will now handle international distribution of wide-release theatrical titles where ESMP has worldwide rights. ESMP/ESMPI are subsidiaries of Allen Media, which recently announced it has secured $500 million in credit facilities.

“International feature film distribution is a natural extension of the expanding reach of our global media, content, and technology company,” says Byron Allen, Founder/Chairman/CEO of Entertainment Studios. “As we continue to distribute content across an ever-increasing number of domestic and global broadcast television, network television, theatrical, and digital platforms, it is only natural for us to incorporate worldwide movie distribution into our overall content distribution strategy going forward, and FilmNation Entertainment is the perfect partner for us to achieve this goal.”

“Entertainment Studios is an exciting, creative, and innovative media company that is committed to delivering high-quality content worldwide,” said FilmNation Entertainment Founder/CEO, Glen Basner. “This global distribution partnership is well-positioned to fill a huge void in the marketplace.”

The first title ESMP/ESMPI will pay for and distribute worldwide is 47 METERS DOWN: THE NEXT CHAPTER, which just started pre-production. The shark thriller sequel will be released domestically on approximately 3,500 screens on June 28, 2019. The first 47 METERS DOWN was a surprise box office hit, grossing over $44.3 million on a $5.5 million budget, making it the highest-grossing independent movie of 2017.  ESMP bought the title from Dimension Films, which had initially planned to release the movie on DVD only.

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