PALO ALTO, Calif., March 08, 2024 (GLOBE NEWSWIRE) -- Mega Matrix Corp. (NYSE American: MPU), today announced its "Mars Content Initiative," where it intends spend up to $100 million over the next three years to produce short dramas that will be released on its short drama platform, FlexTV. Following FlexTV's rise to 8th position in the U.S. Apple App Store's entertainment category (US) in January 2024, this initiative highlights MPU's commitment to leading the short drama sector.
Short dramas offer a distinctive storytelling format, encapsulating narrative essence within brief time frames, usually optimized for vertical viewing on mobile devices, spanning 1 to 3 minutes per episode. Seamlessly integrated into series, each episode contributes to complete storylines unfolding across 40 to over 100 episodes. Short dramas usually offer viewers a virtual escape, presenting narratives that resonate with emotions, and fostering a sense of connection.
FlexTV’s commitment to short dramas emanates from a genuine understanding of the evolving viewing habits shaped by shorter attention spans and the prevalence of multitasking. FlexTV's success illustrates the growing consumer demand for innovative, engaging, concise storytelling, positioning MPU at the forefront of this emerging market. The Mars Content Initiative aims to further enrich FlexTV's offerings, setting new standards for vertical entertainment era.
The global appeal of short dramas is underscored by their fast-growing market presence. In China, this genre commands an estimated market value of $5 billion in the year 2023. With its Mars Content Initiative, Mega Matrix Corp. is not only expanding its content library but also reinforcing its optimistic outlook on the short drama industry's future. This move is expected to solidify MPU's leadership in digital storytelling, offering audiences worldwide innovative and captivating content.
FlexTV has already formed a mature content business model that integrates content production, distribution, and operation. FlexTV is available in more than 100 countries. Our production teams film in various locations including, but not limited to, United States, Mexico, Australia, Thailand, and Philippines. We will continue to expand our international markets and collaborate with local partners in each major market.
About Mega Matrix: Mega Matrix Corp. is a holding company located in Palo Alto, California with five subsidiaries: Saving Digital Pte. Ltd., a Singapore corporation (“Saving”), Mega Matrix, Inc., an exempted company incorporated under the laws of the Cayman Islands, Mega Metaverse Corp., a California corporation (“Mega”), Marsprotocol Technologies Pte. Ltd., a Singapore corporation (“MTP”) and FunVerse Holding Limited (“FunVerse”), a company incorporated under the laws of the British Virgin Islands. The Company focuses on short drama business. For more information, please contact info@megamatrix.io or visit: http://www.megamatrix.io.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose," and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company's profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company’s ability to continue successful development of its digital assets staking business model; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company's future results of operations are subject to additional risks and uncertainties set forth under the heading "Risk Factors" in documents filed by the Company with the Securities and Exchange Commission, including the Company's latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company's inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company's assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.
Contact:
Info@megamatrix.io
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e7cae744-5604-4c36-96cc-c9b3559cf872
