SILVER SPRING, Md.,
Jan. 25, 2018 /PRNewswire/
-- RLJ Entertainment, Inc. ("RLJ Entertainment," "RLJE" or
"the Company") (NASDAQ: RLJE) today announced that combined
subscribers to its two proprietary digital channels, Acorn TV and
Urban Movie Channel or UMC, have surpassed 700,000, an increase of
over 80,000 subscribers from September 30,
2017 and over 55% total growth from a year ago.
"RLJE's investments in original and exclusive content,
marketing, distribution, customer service and awareness are all
proving successful, driving momentum in 2017 subscriber growth to
culminate in the strongest month of the year in December," stated
Miguel Penella, Chief Executive
Officer of RLJ Entertainment. "As OTT channels increasingly become
consumers' choice among their viewing options, Acorn TV and UMC are
more firmly establishing their positions as compelling, must-have
destinations for their respective audiences. We will continue to
focus on strategic execution and investment as we advance toward
our objective of one million Acorn TV and UMC combined subscribers
within the next 12 to 18 months."
About RLJ Entertainment, Inc.
RLJ Entertainment, Inc.
(NASDAQ: RLJE) is a premium digital channel company serving
distinct audiences primarily through its popular OTT branded
channels, Acorn TV (British TV) and UMC (Urban Movie Channel),
which have rapidly grown through development, acquisition, and
distribution of its exclusive rights to a large library of
international and British dramas, independent feature films and
urban content. RLJE's titles are also distributed in multiple
formats including broadcast and pay television, theatrical and
non-theatrical, DVD, Blu-ray, and a variety of digital distribution
models (including EST, VOD, SVOD and AVOD) in North America, the United Kingdom, and Australia. Additionally, through Acorn Media
Enterprises, its UK development arm, RLJE co-produces and develops
new programs and owns 64% of Agatha Christie Limited. For more
information, please visit RLJEntertainment.com, Acorn.tv, and
UMC.tv.
Forward Looking Statements
This press release may
include "forward looking statements" within the meaning of the
"safe harbor" provisions of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Other than statements of historical fact,
all statements made in this press release are forward-looking,
including, but not limited to, statements regarding goals, industry
prospects, future results of operations or financial position, and
statements of our intent, belief and current expectations about our
strategic direction, prospective and future results and
condition. In some cases, forward-looking statements may be
identified by words such as "will," "should," "could," "may,"
"might," "expect," "plan," "possible," "potential," "predict,"
"anticipate," "believe," "estimate," "continue," "future,"
"intend," "project" or similar words.
Forward-looking statements involve risks and uncertainties
that are inherently difficult to predict, which could cause actual
outcomes and results to differ materially from our expectations,
forecasts and assumptions. Factors that might cause such
differences include, but are not limited to:
- Our financial performance, including our ability to achieve
improved results from operations and improved earnings before
income tax, depreciation and amortization, non-cash royalty
expense, interest expense, non-cash exchange gains and losses on
intercompany accounts, goodwill impairments, severance costs,
change in fair value of stock warrants and other derivatives,
stock-based compensation, basis-difference amortization in equity
earnings of affiliate and dividends received from affiliate in
excess of equity earnings of affiliate (or Adjusted
EBITDA);
- Our expectation that subscribers, revenues and financial
performance of our digital channels will continue to grow and have
a positive effect on our liquidity, cash flows and operating
results;
- The effects of limited cash liquidity on operational
performance;
- Our obligations under the credit agreement;
- Our ability to satisfy financial ratios;
- Our ability to generate sufficient cash flows from operating
activities;
- Our ability to fund planned capital expenditures and
development efforts;
- Our inability to gauge and predict the commercial success of
our programming;
- Our ability to maintain relationships with customers,
employees and suppliers, including our ability to enter into
revised payment plans, when necessary, with our vendors that are
acceptable to all parties;
- Our ability to realize anticipated synergies and other
efficiencies in connection with the AMC transaction;
- Delays in the release of new titles or other
content;
- The effects of disruptions in our supply chain;
- The loss of key personnel;
- Our public securities' limited liquidity and trading;
or
- Our ability to meet the NASDAQ Capital Market continuing
listing standards and maintain our listing.
You should carefully consider and evaluate all of the
information in this press release, including the risk factors
listed above and in our Form 10-K filed with the Securities
Exchange Commission (or SEC), including "Item 1A. Risk
Factors." If any of these risks occur, our business, results
of operations, and financial condition could be harmed, the price
of our common stock could decline and you may lose all or part of
your investment, and future events and circumstances could differ
significantly from those anticipated in the forward-looking
statements contained in this press release. Unless otherwise
required by law, we undertake no obligation to release publicly any
updates or revisions to any such forward-looking statements that
may reflect events or circumstances occurring after the date of
this press release.
Readers are referred to the most recent reports filed with
the SEC by RLJ Entertainment. Readers are cautioned not to place
undue reliance upon any forward-looking statements, which speak
only as of the date made, and we undertake no obligation to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise.
Media Contact:
Traci
Otey Blunt, 301-830-6204
RLJ Entertainment, Inc.
tblunt@rljentertainment.com
Investor Contact:
Jody
Burfening/Carolyn Capaccio,
212-838-3777
LHA
ir@rljentertainment.com
View original content with
multimedia:http://www.prnewswire.com/news-releases/rlj-entertainment-total-digital-channel-subscribers-surpass-700000-mark-300587885.html
SOURCE RLJ Entertainment, Inc.