STRONG Technical Services Launches STRONG Restart Initiative In Advance of Summer 2021 Blockbuster Movie Season

Rhea-AI Summary

STRONG Technical Services, a subsidiary of Ballantyne Strong, announced the launch of its STRONG Restart initiative, deploying 10 BrightNight Drive In packages across the U.S. to assist cinemas in safely welcoming back audiences.

Each package includes a mobile projection trailer and an inflatable screen, offered at no cost for a weekend to select exhibitors, targeting the Summer 2021 blockbuster season.

The initiative aims to reconnect exhibitors and moviegoers as the nation reopens.

Positive

• Launch of STRONG Restart initiative to help cinemas recover post-COVID.
• Deployment of 10 BrightNight Drive In packages at no cost to selected exhibitors.
• Enhancement of brand reputation as a partner to cinema exhibitors.

Negative

• Dependence on the uncertain recovery of cinema attendance post-pandemic.
• Potential challenges in maintaining and expanding revenue streams due to reduced demand.

CHARLOTTE, N.C., April 14, 2021 (GLOBE NEWSWIRE) -- STRONG Technical Services, Inc. (STS), a wholly-owned subsidiary of Ballantyne Strong, Inc. (NYSE American: BTN) and a leader in projection equipment sales, engineering and services, today announced the launch of its STRONG Restart initiative deploying 10 BrightNight Drive In packages across the U.S. Each package is equipped with the Company’s Preview and Northview products, which consist of a mobile projection trailer and large 40’ x 20’ inflatable screen solution. STS will offer the package to select exhibitors for one weekend at no expense, to help cinemas safely bring customers back for the Summer 2021 blockbuster season.

“STRONG has been a valued partner to cinema exhibitors since 1932,” said Blake Titman, Vice President and General Manager, STRONG Technical Services. “As the country reopens, there is pent up demand across America to get out of the house to view movies. Our team is launching STRONG Restart to help exhibitors reconnect and safely welcome back movie goers as we transition to an exciting Summer 2021 movie season. Through our nationwide field coverage, equipment sales and 24x7x365 support, STRONG stands ready to bring audiences back into cinema auditoriums. After all, everyone loves a good sequel.”

To participate, exhibitors should visit https://strong-tech.com/strongrestart/ for an overview of the initiative and promote a STRONG Restart weekend on social media for their business. The STRONG Restart program is available to any current U.S. exhibitor operating in the continental 48 states.

Those wishing to obtain more information regarding the full range of products and services offered by STS are invited to contact management directly, either by phone at (800) 722-4445 or by email at sales@strong-tech.com.

About STRONG Technical Services

STRONG Technical Services, Inc. (www.strong-tech.com), a Ballantyne Strong, Inc. company, is an equipment sales, engineering, and service provider located in Omaha, NE. The company, with its nationwide service and engineering team, designs, integrates, and installs technology solutions for a broad range of applications including audio, projection, and signage applications with comprehensive managed service offerings to ensure solution uptime and availability.

About Ballantyne Strong, Inc.

Ballantyne Strong, Inc. (www.ballantynestrong.com) is a diversified holding company with operations and investments across a broad range of industries. The Company’s Strong Entertainment segment includes the largest premium screen supplier in the U.S. and also provides technical support services and other related products and services to the cinema exhibition industry, theme parks and other entertainment-related markets. Ballantyne Strong holds a $13 million preferred investment along with Google Ventures in privately held Firefly Systems, Inc., which is rolling out a digital mobile advertising network on rideshare and taxi fleets. Finally, the Company holds a 30% ownership position in GreenFirst Forest Products Inc. (TSX: GFP) which has recently completed an investment in a sawmill and related assets and a 21% ownership position in FG Financial Group, Inc. (Nasdaq: FGF) which is a reinsurance and investment management holding company focused on opportunistic collateralized and loss capped reinsurance, while allocating capital to SPAC and SPAC sponsor-related businesses.

Forward-Looking Statements

This press release may include forward-looking statements, such as our expectations regarding future sales, the impact, length and severity of the COVID-19 pandemic, and the adequacy of the actions taken in response to the pandemic, which involve a number of risks and uncertainties, including but not limited to those discussed in the “Risk Factors” section contained in Item 1A in Ballantyne Strong, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2020, the Company’s subsequent filings with the Securities and Exchange Commission, and the following risks and uncertainties: the negative impact that the COVID-19 pandemic has already had, and may continue to have, on the Company’s business and financial condition; the Company’s ability to maintain and expand its revenue streams to compensate for the lower demand for the Company’s digital cinema products and installation services; potential interruptions of supplier relationships or higher prices charged by suppliers; the Company’s ability to successfully compete and introduce enhancements and new features that achieve market acceptance and that keep pace with technological developments; the Company’s ability to successfully execute its capital allocation strategy or achieve the returns it expects from these investments; the Company’s ability to maintain its brand and reputation and retain or replace its significant customers; challenges associated with the Company’s long sales cycles; the impact of a challenging global economic environment or a downturn in the markets (such as the current economic disruption and market volatility generated by the ongoing COVID-19 pandemic); economic and political risks of selling products in foreign countries (including tariffs); risks of non-compliance with U.S. and foreign laws and regulations, potential sales tax collections and claims for uncollected amounts; cybersecurity risks and risks of damage and interruptions of information technology systems; the Company’s ability to retain key members of management and successfully integrate new executives; the Company’s ability to complete acquisitions, strategic investments, entry into new lines of business, divestitures, mergers or other transactions on acceptable terms, or at all; the impact of the COVID-19 pandemic on the companies in which the Company holds investments; the Company’s ability to utilize or assert its intellectual property rights, the impact of natural disasters and other catastrophic events (such as the ongoing COVID-19 pandemic); the adequacy of insurance; the impact of having a controlling stockholder and vulnerability to fluctuation in the Company’s stock price. Given the risks and uncertainties, readers should not place undue reliance on any forward-looking statement and should recognize that the statements are predictions of future results which may not occur as anticipated. Many of the risks listed above have been, and may further be, exacerbated by the ongoing COVID-19 pandemic, its impact on the cinema and entertainment industry, and the worsening economic environment. Actual results could differ materially from those anticipated in the forward-looking statements and from historical results, due to the risks and uncertainties described herein, as well as others not now anticipated. New risk factors emerge from time to time and it is not possible for management to predict all such risk factors, nor can it assess the impact of all such factors on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Except where required by law, the Company assumes no obligation to update, withdraw or revise any forward-looking statements to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.

STRONG Technical Services Contact
Blake Titman
STRONG Technical Services, Inc.
Vice President - General Manager
(800) 722-4445
blake.titman@strong-tech.com

Ballantyne Strong Contact
Mark Roberson
Ballantyne Strong, Inc.
Chief Executive Officer
(704) 994-8279
IR@btn-inc.com

Investor Relations Contact
John Nesbett/Jennifer Belodeau
IMS Investor Relations
(203) 972-9200
jnesbett@institutionalms.com

FAQ

What is the STRONG Restart initiative by BTN?

The STRONG Restart initiative is a program launched by STRONG Technical Services, a subsidiary of Ballantyne Strong, to help cinemas safely welcome back audiences by providing BrightNight Drive In packages at no cost.

How many BrightNight Drive In packages will be deployed?

The initiative will deploy 10 BrightNight Drive In packages across the U.S.

What products are included in the BrightNight Drive In package?

The package includes a mobile projection trailer and a large inflatable screen (40' x 20').

When is the STRONG Restart initiative available?

The initiative is available for exhibitors during the Summer 2021 movie season.

How can exhibitors participate in the STRONG Restart initiative?

Exhibitors can participate by visiting the STRONG Restart webpage and promoting the initiative on social media.