SILVER SPRING, Md.,
June 13, 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 800,000, an increase of
over 100,000 subscribers from December 31,
2017 and over 45% total growth from a year ago.
"RLJ Entertainment's subscriber momentum remains robust as we
intensify our investments in compelling original and exclusive
content, broaden our distribution on both domestic and
international platforms, and enhance our marketing to drive
awareness," stated Miguel Penella,
Chief Executive Officer of RLJ Entertainment. "Viewership across
the OTT landscape is growing rapidly as consumers demand more from
their entertainment options, offering increased opportunity for
Acorn TV and UMC to thrive. Our unrelenting focus on building
must-have Digital Channel destinations, and continued strong
subscriber responses to these efforts, coupled with our expanded
distribution footprint, puts us firmly on track to achieve our
target of one million subscribers by early 2019."
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, restructuring
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; or
- Our public securities' limited liquidity and
trading.
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
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SOURCE RLJ Entertainment, Inc.