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Momentous Entertainment Group to Acquire IGNIS Studios
04/09/2018 | 06:01am EDT
Ignis Studios Will Provide Worldwide Revenue Streams Through Its Exciting New Games
LAS VEGAS, NV, April 09, 2018 (GLOBE NEWSWIRE) -- Momentous Entertainment Group, Inc. (“Momentous”) (OTCBB: MMEGD), is pleased to announce it has executed a Letter of Intent to acquire Ignis Studios LLC for $21.5 million in a deal that consists of a combination of cash, performance payments and stock.
Ignis Studios, LLC has quietly assembled a group of some of the best game development professionals in the world over the past several years. The Ignis team has created games for some of the most notable game companies in the world including Sony, LucasFilm, Tencent, Riot Games, Blizzard Entertainment and many others. The business plan calls for the creation of 10 new games annually, introduced to the marketplace with expectations that at least three will pick up traction and become financially lucrative.
ONLY 3 GAMES NEED TO REACH LOW ADOPTION TO GENERATE SIGNIFICANT PROFITABILITY.
Viral adoption results normally generate over $2M a day in revenue. Games like "Candy Crush Saga" are in this category. Moderate adoption results normally generate $50k-$300k a day in revenue. Games like "Cookie Jam" are in this category. Low adoption results normally generate $15k-20k a day in revenue. Games like "Bubble Cloud" are in this category.
Ignis gaming projections for 2018 are estimated to upwards of 8 plus million in gross revenue. Ignis’ projections are attainable with only 3 out of 10 games reaching low adoption on a yearly basis. If any of the Ignis games reach medium to viral adoption, the revenues grow exponentially.
Momentous CEO Kurt Neubauer stated, “Added to our Chimera Games business, Ignis Studios presents a major opportunity for Momentous to continue to gather market share and expand further into the game industry.” Mr. Neubauer also stated, ”The Ignis business plan focuses on generating 10 new mobile games a year and continually developing new games. Only a small fraction of the games developed need to reach low adoption in order to realize revenues.”
GAMES ARE RAPIDLY BECOMING THE WORLD’S FAVORITE PASTIME.
Consumers are spending more time than ever on games. The reason for this is that games now cater to a much wider variety of interests. This includes lean-forward (gaming intensely or casually), lean-back (viewing game run through video content created by peers or provided by the professional gaming scene), creating unique content and sharing (on-demand and live streaming). Viewing professional or amateur game video content is bringing back millions of past gamers who no longer have the time to play but whose passion is reignited by watching other players and worldwide championships. The term “gamers” is becoming increasingly obsolete, as it fails to capture the variety of ways that games entertain consumers. “Game enthusiasts” would be a more encapsulating term.
GAME COMPANIES ARE BECOMING GLOBAL ENTERTAINMENT COMPANIES.
As game content and IP turns increasingly into entertainment franchises, game companies are rethinking their strategic position in the broader entertainment industry. Game companies are the champions of interactive entertainment and are outstanding at stimulating social, creative, and sharing behavior. They also rely almost entirely on direct consumer spending, as opposed to the advertising-based model of many digital or broadcast media companies. At the same time, the number of hours spent watching non-interactive (video) content around game franchises has exploded and is no longer seen as free marketing but as a serious new business opportunity. As traditional media struggle to offer an interactive component around their content, game companies are quickly learning how to monetize video content and its millions of viewers. The biggest game companies already entertain a far greater audience than most of the world’s largest traditional media and entertainment companies.
SMARTPHONES ARE SET FOR A NEW WAVE OF INNOVATION.
The market is set for a new wave of innovation in smartphones that will offer new possibilities for developers of games and apps alike. Crucial developments on the horizon include flexible screens, better battery technology, and the integration of AR and VR into smartphones.
Mobile gaming (smartphone and tablet) was the largest segment in 2017, accounting for 42% of the total global market. The segment also has the most gamers with 2.1 billion, the majority of whom are gaming on smartphones. Console is the second-largest segment with revenues of $33.5 billion in 2017. PC browser game revenues will decrease by 9.3% to $4.5 billion as gamers continue their transition to mobile.
Mobile will remain the largest segment in gaming, growing with a CAGR (2016-2020) of 13.9% to claim 50% of the market by 2020.
(Market data and statistics in this release are published by NEWZOO).
About Momentous Entertainment Group (MMEG)
Momentous Entertainment Group, Inc. (MMEG) is a social platform gaming, ecommerce and digital media company focused on providing unique and entertaining experiences for its subscribers and members on a global scale.
The Company’s strategic expansion plans are balanced between accelerating growth of its existing media and gaming properties, to the acquisition of profitable and sustainable businesses that are highly complementary to MMEG’s operations.
Please note the Company may use social media to communicate with the public. This communication may include information that could be deemed material information. As a result, the Company encourages interested parties to review the information that it posts on the following social media channels: Facebook, Twitter and LinkedIn.
This press release may contain forward-looking statements, including information about management’s view of Momentous Entertainment Group Inc’s (MMEG) future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of MMEG to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents MMEG files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on MMEG’s future results. The forward-looking statements included in this press release are made only as of the date hereof. MMEG cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, MMEG undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by MMEG.