TORONTO and VANCOUVER, British Columbia, April 06, 2020 (GLOBE NEWSWIRE) -- WOW! Unlimited Media Inc. (“WOW!” or the “Company”) (TSX-V: WOW / OTCQX: WOWMF) a leading next generation kids and youth entertainment company, provides an update given the ongoing concerns around the COVID-19 virus.
While WOW!’s primary concerns at this time are the health and well-being of its employees, the Company’s business operations remain focused on executing on client commitments and implementing additional measures to limit any disruption as much as possible. The Company continues to monitor the recommendations and implement the guidelines provided by national, state and provincial health agencies, including the Public Health Agency of Canada and the National Institutes of Health in the US.
Update from Mainframe Studios
In 2018, WOW!’s Mainframe Studios developed the “Global Studio Pipeline” to expand scalability to work with third party studios without sacrificing the creative production value of the Studios’ projects. This has given Mainframe tremendous flexibility to work on a variety of different projects with partners worldwide. The Global Studio Pipeline has been operational for over a year, and time zone differences have often allowed two full days of production every 24 hours, resulting in a huge boost to productivity. As a result of its Global Studio Pipeline, Mainframe has created a virtual studio with remote workstations that allows employees to collaborate, whether they’re sitting next to each other or are halfway across the world.
At the onset of the COVID-19 crisis, the Mainframe team pro-actively leveraged the Global Studio Pipeline to expeditiously transition into a ‘Work From Home’ model for its entire 400+ Studio crew. The Work From Home model was successfully deployed within one week, without interruption to operations, and all Mainframe Studio employees are able to function seamlessly from the safety of their homes. Mainframe plans to adapt this Work From Home model beyond the current crisis, and will therefore be able to expand its production capacity significantly over the current 400+ employees, without leasing any additional facilities.
Working closely with current global partners like DreamWorks, Mattel, and Silvergate Media, Mainframe has continued to maintain quotas and produce high quality work uninterrupted throughout the month of March.
Mainframe’s President and CCO, Michael Hefferon, stated, “The studio has come together to make something special happen so they can continue to do the work they are so passionate about, creating art that spreads joy, inclusion, and positivity. At a time when many businesses have been forced to close, we are all very fortunate to have this ability to work from home and to continue to do the amazing work we do as a studio. In the absence of playdates and outings, the content we create for kids has an important function: to put a smile on kids' faces, to make them laugh, and to hopefully let them forget what is going on in the world for a moment. If our shows do that, then we have succeeded.”
WOW! reiterates its latest financial guidance as provided on November 26, 2019, of revenue in excess of $90 million and operating EBITDA in excess of $0.6 million for its financial year ending December 31, 2019.
About Wow Unlimited Media Inc.
WOW! Unlimited is creating a leading animation-focused entertainment company by producing top-end content and building brands and audiences on the most engaging media platforms. The Company produces animation in its two established studios: Frederator Studios in Los Angeles, which has a 20-year track record; and Mainframe Studios in Vancouver, one of Canada's largest, multi-faceted animation production studios, which has a 25-year track record. The Company’s media assets include Channel Frederator Network on YouTube, as well as WOW! branded programming on Crave, Canada’s leading streaming entertainment platform, owned by Bell Media. The Company operates out of offices in Toronto, New York, Vancouver and Los Angeles. The common voting shares of the Company and variable voting shares of the Company are listed on the TSX Venture Exchange and the OTCQX Best Market.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information available at:
Website: www.wowunlimited.co