Alliance Entertainment Announces Launch of New Publishing Venture – Alliance Entertainment Publications
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Alliance Entertainment Publications to Create and Release High Quality, Full-Color, Fan-Focused Collectible Magazines
PLANTATION, Fla., Nov. 28, 2023 (GLOBE NEWSWIRE) -- DirectToU LLC, a division of Alliance Entertainment Holding Corporation (Nasdaq: AENT) (“Alliance Entertainment”, “Company”), a distributor and wholesaler of the world’s largest in stock selection of music, movies, video games, electronics, arcades, toys and collectibles, today announced that it has launched a new publishing venture under the banner of Alliance Entertainment Publications.
Alliance Entertainment Publications has created and released high quality, full-color, fan-focused Collectible Magazines, known in the industry as Bookazines, which are the fastest growing segment in magazine publishing. They will be sold through Alliance Entertainment’s extensive distribution network, including Customer Direct Fulfillment (“CDF”), through Alliance’s proprietary direct-to-consumer mail order print catalogs and websites, and to thousands of independent retailers and wholesale accounts. They will also be distributed to select retail destinations such as Barnes & Noble and Books-A-Million, further expanding to include big box retailers and grocery chains in 2024.
These new publications are branded under the Alliance Entertainment-owned entities of Movies Unlimited (founded in 1978), Critics’ Choice Video (founded in 1987) and Collectors’ Choice Music (founded in 1993). These legacy brands have been leaders in selling media and collectibles directly to consumers for decades via specially curated mail order print catalogs and websites and have decades of expertise earned in the entertainment industry.
“Alliance Entertainment acquired Collectors’ Choice Music and Critics’ Choice Video in 2010 and Movies Unlimited in 2015, as a way to grow our existing customer base and to tap into new avenues of sales,” said Jeff Walker, CEO and CFO of Alliance Entertainment. “At the same time, we acquired a team of dedicated and talented long-time employees, many of whom worked on these brands since the beginning. These new Collectible Magazines will be written and designed by these same long-time employees, utilizing their decades of institutional knowledge of Movies, TV and Music.”
“This new product line is a very exciting opportunity for us,” said Tim Hinsley, SVP of Retail Sales at Alliance Entertainment and Publisher of Alliance Entertainment Publications. “Our brands have been working hard to branch out from just selling shiny discs such as DVDs and CDs by expanding into offering more movie and music related collectibles. What better way to grow that business than to create our own high quality publications that appeal directly to the interests of our current customer base and beyond.”
Rob Terry, Sr., Director of Merchandising at DirectToU LLC and Editor-in-Chief of Alliance Entertainment Publications, stated, “We are more than thrilled that our team can now share our earned expertise in entertainment with our customers in a new way. We guarantee that our passion and fandom will show through in these publications and the topics we cover.”
The first 3 issues, available now, are Collectors’ Choice Music Presents Willie Nelson & the Legends of Outlaw Country, Critics’ Choice Video Presents Great Comedy Teams Volume 1 (1922-1969) and The Movies Unlimited Essential Guide to Star Trek. Upcoming releases include Collectors’ Choice Music Presents The British Invasion, Critics’ Choice Video Presents Great TV Detectives and The Movies Unlimited Guide to 1970s Horror.
About DirectToU LLC
DirectToU LLC (“DTU”), a division of Alliance Entertainment, is the retail brand-centric home for all things entertainment. Led by in-house brands Critics’ Choice, DeepDiscount, Movies Unlimited, Collectors’ Choice, popmarket and WowHD, DTU retails Alliance’s vast variety of products across in-house websites, mail-order catalogs, third party marketplaces (including Amazon, Walmart and eBay), social media (including Facebook and TikTok) and specialty retailers (including Urban Outfitters and Discogs). With a successful retail history dating to 1978, DTU boasts a dedicated and well-renowned team of experts in the Film, TV, Music, Gaming and Collectibles industries, acting as a vital bridge between the creative community and their legion of fans.
About Alliance Entertainment
Alliance Entertainment (NASDAQ: AENT) is a premier distributor of music, movies, toys, collectibles, and consumer electronics. We offer over 375,000 unique in stock SKU’s, including over 57,300 exclusive compact discs, vinyl LP records, DVDs, Blu-rays, and video games. Complementing our vast media catalog, we also stock a full array of related accessories, toys and collectibles. With more than thirty-five years of distribution experience, Alliance Entertainment serves customers of every size, providing a robust suite of services to resellers and retailers worldwide. Our efficient processing and essential seller tools noticeably reduce the costs associated with administrating multiple vendor relationships, while helping omni-channel retailers expand their product selection and fulfillment goals. For more information, visit www.aent.com.
Forward Looking Statements
Certain statements included in this Press Release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on various assumptions, whether identified in this Press Release, and on the current expectations of Alliance’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on by an investor as, a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Alliance. These forward-looking statements are subject to a number of risks and uncertainties, including risks relating to the anticipated growth rates and market opportunities; changes in applicable laws or regulations; the ability of Alliance to execute its business model, including market acceptance of its systems and related services; Alliance’s reliance on a concentration of suppliers for its products and services; increases in Alliance’s costs, disruption of supply, or shortage of products and materials; Alliance’s dependence on a concentration of customers, and failure to add new customers or expand sales to Alliance’s existing customers; increased Alliance inventory and risk of obsolescence; Alliance’s significant amount of indebtedness; our ability to refinance our existing indebtedness; our ability to continue as a going concern absent access to sources of liquidity; risks and failure by Alliance to meet the covenant requirements of its revolving credit facility, including a fixed charge coverage ratio; risks that a breach of the revolving credit facility, including Alliance’s recent breach of the covenant requirements, could result in the lender declaring a default and that the full outstanding amount under the revolving credit facility could be immediately due in full, which would have severe adverse consequences for the Company; known or future litigation and regulatory enforcement risks, including the diversion of time and attention and the additional costs and demands on Alliance’s resources; Alliance’s business being adversely affected by increased inflation, higher interest rates and other adverse economic, business, and/or competitive factors; geopolitical risk and changes in applicable laws or regulations; risk that the COVID-19 pandemic, and local, state, and federal responses to addressing the pandemic may have an adverse effect on our business operations, as well as our financial condition and results of operations; substantial regulations, which are evolving, and unfavorable changes or failure by Alliance to comply with these regulations; product liability claims, which could harm Alliance’s financial condition and liquidity if Alliance is not able to successfully defend or insure against such claims; availability of additional capital to support business growth; and the inability of Alliance to develop and maintain effective internal controls.
For investor inquiries, please contact:
MZ Group
Chris Tyson/Larry Holub
(949) 491-8235
AENT@mzgroup.us
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3156ccc8-7d87-45c1-aa76-315e8619cf0a.
FAQ
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