ErosSTX’s Greenland to Debut on HBO Following a 4th Quarter PVOD Release

Rhea-AI Summary

ErosSTX Global Corporation (NYSE:ESGC) announced that STXfilms’ Greenland will premiere on HBO and HBO Max in early 2021 after a PVOD release in late 2020. The film has grossed over $45 million against a $35 million budget, debuting #1 in 22 international markets and outperforming Angel Has Fallen. This move shows ErosSTX's adaptability in uncertain box office conditions due to the pandemic, highlighting demand for quality content across platforms. The film will also be available on Amazon Prime in Canada, the UK, and Australia.

Positive

• The film Greenland has already grossed over $45 million against a $35 million production budget.
• Successful international debut, opening #1 in 22 markets, outperforming Angel Has Fallen.
• Demonstrates adaptability amid pandemic challenges in the box office.

Negative

• None.

DOUGLAS, Isle of Man & BURBANK, Calif.--(BUSINESS WIRE)--ErosSTX Global Corporation (NYSE:ESGC) (“ErosSTX”), a global entertainment company, announced today that STXfilms’ Greenland will debut on HBO and stream on HBO Max in the United States in early 2021, following a domestic release on Premium Video On-Demand (PVOD) services in the fourth quarter of 2020. The announcement was made by Adam Fogelson, Chairman of STXfilms Motion Picture Group.

Greenland opened #1 in 22 markets overseas, through STX's network of international distribution partners that led an international-first strategy. Greenland is outperforming the Gerard Butler hit Angel Has Fallen in most key territories. The film has already grossed over $45 million in revenue for STX, on a $35 million production budget, despite uniquely challenging market conditions. STX will continue to roll-out the film theatrically in many international markets.

In Canada, Greenland will be released on Amazon Prime. The film will also be released by Amazon Prime in UK and Australia.

Said Fogelson, “We conceived Greenland as a theatrical experience and audiences have responded strongly in every market where moviegoing is robust. In some markets, however, we need a different strategy to get the movie out in a timely and economically advantageous fashion. We’re excited that HBO customers will have the chance to enjoy Greenland next year following a PVOD run in America during the fourth quarter of this year. And we’re pleased to partner again with Amazon in UK, Canada and Australia. We are actively producing and acquiring an exciting slate of content for theaters going forward. They are, and will continue to be, our critical partners.”

Shifting Greenland from a US theatrical release to PVOD and HBO demonstrates the Company’s ability to remain nimble and adaptive during this period of box office uncertainty caused by the pandemic. Moreover, this deal indicates that the market demand for high-quality, cinematic content remains high across all distribution channels.

STXfilms uses a unique capital-efficient model for film production that leverages an extensive network of financing and distribution partnerships. The capital at risk on film projects is minimized through a combination of production tax incentives, output agreements and co-financing arrangements. Additionally, the Company’s film marketing strategy uses first-party data for audience targeting to maximize the effectiveness of dollars spent, and ultimately results in box office performance that is similar to peer films but with less marketing expense than peer films.

Starring Gerard Butler, Morena Baccarin, David Denman, Hope Davis, Roger Dale Floyd, Andrew Bachelor, Merrin Dungey, with Holt McCallany, and Scott Glenn, Greenland is written by Chris Sparling and directed by Ric Roman Waugh. Producers are Basil Iwanyk, Sèbastian Raybaud, Gerard Butler and Alan Siegel.

In Greenland, a family fights for survival as a planet-killing comet races to Earth. John Garrity (Gerard Butler), his estranged wife Allison (Morena Baccarin), and young son Nathan make a perilous journey to their only hope for sanctuary. Amid terrifying news accounts of cities around the world being leveled by the comet’s fragments, the Garrity’s experience the best and worst in humanity. As the countdown to global apocalypse approaches zero, their incredible trek culminates in a desperate and last-minute flight to a possible safe haven.

ErosSTX Global Corporation:

Eros STX Global Corporation, (“ErosSTX” or “The Company”) (NYSE: ESGC) is a global entertainment company that acquires, co-produces and distributes films, digital content & music across multiple formats such as theatrical, television and OTT digital media streaming to consumers around the world. Eros International Plc changed its name to Eros STX Global Corporation pursuant to the July 2020 merger with STX Entertainment, merging two international media and entertainment groups. The combination of one of the largest Indian OTT players and premier studio with one of Hollywood’s fastest-growing independent media companies has created an entertainment powerhouse with a presence in over 150 countries. ErosSTX delivers star-driven premium feature film and episodic content across a multitude of platforms at the intersection of the world's most dynamic and fastest-growing global markets, including US, India, Middle East, Asia and China. The Company also owns the rapidly growing OTT platform Eros Now which has rights to over 12,000 films across Hindi and regional languages and had 205.8 million registered users and 33.8 million paying subscribers as of June 30th, 2020. For further information, please visit ErosSTX.com.

STXfilms:

STXfilms, a division of Eros STX Global Corporation, is a next-generation film studio that produces, acquires, distributes, and markets motion pictures at scale. From blockbusters like Hustlers, Bad Moms, and The Upside to hits like The Gentlemen, Molly’s Game, and The Gift, STXfilms produces star-driven films for a global audience. In just 5 short years, its slate of films has already grossed over $1.8b in global theatrical box office. With a wide range of partners including Universal Pictures Home Entertainment and Showtime (which handle the physical and premium television releases of STXfilms content, respectively), the studio is a fast-growing, industry powerhouse.