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NEW YORK, Aug. 20, 2024 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: 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.