Entry into Video Games Leverages Existing Distribution Channels and Management Expertise
SANTA MONICA, Calif—March 10, 2008--Genius Products, Inc. (OTCBB: GNPI)“The Company” announced today its expansion into the publishing and distribution of video games. Genius’ management team has extensive experience in the video game industry and this growth opportunity is an example of how the company is increasing revenue and earnings growth through new and expanding brand and content partnerships as well as co-productions.
“Our management expertise in the development, marketing and distribution of video games creates a tremendous growth opportunity for Genius”, said Trevor Drinkwater, President and CEO of Genius Products.“As planned, this marks the beginning of our entrance into the fast growing and exciting interactive software category and the expansion of our distribution expertise in multiple entertainment based product categories.”
Stephen K. Bannon, Chairman of Genius Products said,“In 2008, we enter phase two of our aggressive growth strategy which will focus on revenue growth and improvements in margin through brand and content partnerships, content production, intellectual property ownership, and the acquisition of additional revenue streams. Our planned entry into video games is a great example of value creating, higher margin opportunities we will continue to aggressively pursue in 2008 and beyond.”
The Company plans to offer a number of new game titles in 2008 across a variety of gaming genres. The initial product, anticipated to hit shelves in the summer of 2008, is Line Rider™. Based on the Internet phenomenon and developed by InXile, Line Rider is built upon the simple premise of what happens when a boy and his sled are sent traveling along in a world drawn by the player. With a fan base for the original Internet game numbering over twenty million, the new Line Rider games from Genius Products for Wii™, Nintendo DS™ and PC will take players far beyond the original game with new game modes, new riders, new community features and new creative tools. Offering the ability to create and share gameplay like no game before it, the only limits of Line Rider are the laws of physics and the player’s own imagination.
In Line Rider, the sled-stealing scumbag Chaz is up to no good and only you, as the clever and cunning Bosh, can defeat him. For Bosh to save his true love Bailey, players must solve over 40 mind-bending puzzles created by the #1 Line Rider player in the world, TechDawg. Players can also create their own puzzles and story-telling masterpieces and share them on the Internet by posting on sites such as YouTube, Facebook or the official Line Rider Web site www.linerider.com.
“Over the past few years, we have built one of the preeminent distribution platforms and assembled one of the leading teams in the home entertainment industry. We are well positioned to deliver record revenue, operating cash flow and earnings by fully exploiting our platform,” stated Mr. Stephen K. Bannon.
About Genius Products
Genius Products, Inc. (OTCBB:GNPI
- News), along with The Weinstein Company Holdings LLC, together owns Genius Products, LLC, a leading independent home-entertainment distribution company that produces, licenses and distributes a valuable library of motion pictures, television programming, family, lifestyle and trend entertainment on DVD and other emerging platforms through its expansive network of retailers throughout the U.S. Genius handles the distribution, marketing and sales for such brands as Animal Planet, Asia Extreme™, Discovery Kids, Dragon Dynasty™, Dimension Films™, Entertainment Rights group companies (Entertainment Rights, Classic Media and Big Idea), ESPN®, IFC®, RHI Entertainment™, Sesame Workshop®, TLC, The Weinstein Company® and WWE®. Genius Products, Inc. is the managing member of Genius Products, LLC, in which it holds a 30% equity interest.
Safe Harbor Statement
This press release contains forward-looking statements, including statements as to the anticipated growth and expansion plans of our business, our anticipated market position within the entertainment distribution industry, and the anticipated effect of Mr. Smith’s employment and other promotions on our growth, market position and business generally. These forward-looking statements reflect assumptions and involve risks and uncertainties that may affect Genius Products’ business, projections and prospects, and cause actual results to differ materially from those in these forward-looking statements. Actual results could vary for many reasons, including but not limited to, the success of the introduction of video games, our ability to continue to acquire and keep valuable content or expand our distribution partnerships, the unpredictability of audience demand, the success of TWC titles at the box office and the popularity of our titles on DVD, our ability to perform under the terms of our agreement with our content providers, our ability to continue to manage our significant growth, the effect of technological change and the availability of alternative forms of entertainment, our ability to maximize our operating leverage. Other such risks and uncertainties include the matters described in Genius Products, Inc. filings with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.
Genius Products, Inc.
John Mills/Anne Rakunas, 310-954-1100