Hannover House Bumps-Up Meltdown Budget to $20-MM and Tags New MyFlix Site as USA Premiere Partner

Rhea-AI Summary

Hannover House (OTC PINK:HHSE) announced a $20 million budget for the upcoming film Meltdown, which will premiere on its new streaming service, MyFlix, simultaneously with its theatrical release in January 2023. The film, described as 'Die Hard in a Nuclear Plant,' features an army ranger and engineers thwarting a terrorist plot. The project aims to attract major stars, enhancing its marketability and potential for international presales. MyFlix is set to launch with over 15,000 titles, targeting diverse film audiences. Hannover House plans to commence filming in March 2022.

Positive

• Film budget increased from $15 million to $20 million, enhancing production value.
• Simultaneous release on MyFlix and theatrical platforms could boost visibility and revenue.
• Increased interest from major stars likely to attract international presales.
• MyFlix service aims to launch with a vast selection of 15,000 titles, appealing to diverse audiences.

Negative

• Need for substantial financing could indicate financial strain.
• Increased budget may lead to higher production costs, impacting profit margins.

FAYETTEVILLE, AR / ACCESSWIRE / June 29, 2021 / The soon-to-be-launched streaming service, MyFlix, will have a major new locomotive added to its arsenal with the announcement that management partner Hannover House, Inc. (OTC PINK:HHSE) will enable MyFlix to debut "Meltdown" on the same day as its USA Theatrical opening. The release model of premium streaming occurring simultaneous with a title's theatrical opening has been successfully implemented by Disney+, HBO-Max and will also be utilized by Apple TV in their 2022 launch of the Martin Scorcese thriller, "Killers of the Flower Moon."

"Meltdown" has been described as "Die Hard in a Nuclear Plant" and tells the story of an army ranger and two facility engineers who must stop a terrorist plan to trigger a meltdown at a nuclear power facility. Talks are in progress with three major stars for formal attachment in the roles of the Army Ranger, one of the engineers and the mastermind-antagonist who has orchestrated the terror attack.

The budget for the film has been increased from $15-million to the revised total of $20-million, which writer-director Eric Parkinson believes will provide sufficient funding to secure the three stars now in negotiation. Hannover House is confident that presale activities to finalize the financing of the movie will be completed in the next few weeks, which will be supplemented with film production incentives from the State of Oklahoma (where at least 85% of the film is planned to be shot).

"This bold move shows our commitment not only to front-line productions, but also to supporting the MyFlix service as a major platform for original programming," said Parkinson, CEO of Hannover House, Inc. "It's encouraging and exciting to have a commercial project that is strong-enough to attract three major stars, as this enhanced package has proven to be the catalyst in obtaining the international presale financing. Seasoned producers know that a great concept with major stars puts the film into the rarefied air of locomotive titles that distributors worldwide have been actively seeking."

Hannover House plans to commence principal photography on "Meltdown" in March, 2022 with a theatrical release and simultaneous MyFlix premiere in January 2023. The film requires over six months of pre-production time as a nuclear control room replica set must be constructed for filming many of the film's key action scenes.

The MyFlix service will launch later this summer with at least ten premiere titles, one-hundred exclusives and a total access selection of nearly fifteen-thousand titles from forty-three studio partners, film libraries and program suppliers. MyFlix hopes to brand itself as the one-stop digital superstore for consumers wanting to see more than just a handful of top theatrical hits or originals. The site is targeting high-consumption film aficionados as well as genre' specialty groups including independent film, kids, animation, science fiction, horror, comedy, martial arts and international cinema. The site also plans to add an educational portal and an interactive gaming option after the initial launch.

In support of MyFlix and Meltdown, Hannover House will be participating in the Cannes Film Festival in France, which is being held from July 6 - 16. The company will also be holding two press events for original family feature film, "Wildfire."

"Our current shareholders know that we have been developing the ‘Meltdown" project for several years. But it has only been in the past few weeks that a financing structure has developed, inspired in large part by the attachment of a major star in the Army Ranger role," said Parkinson. "This leading actor has inspired forward progress on the casting of the other two principal leads, and the combined production package has rocketed into an exciting and attractive presale commodity. It's going to cost a lot more for our three principal stars than originally budgeted, but their participation is what triggers the presales, so this becomes a self-funding venture," he concluded.

As the production company of record for "Meltdown," Hannover House will be paid an upfront production fee for operations and overhead, as well as benefit from the non-pledged distribution revenues and other income benefits as a MyFlix premiere title.

"'Meltdown' is a true locomotive title that will drive consumer interest and elevate the MyFlix venture into a full-service platform. Hannover House has survived many marketplace changes over the past 28-years, and we feel that an incredibly commercial feature like ‘Meltdown' combined with the MyFlix streaming service will deliver the brass ring of success to the company and to our shareholders," Parkinson concluded.

Announcement of the major star casting for "Meltdown" will occur later this year, with set construction commencing in October and principal photography launching in March, 2022.

Hannover House stock is traded on the OTC Markets under ticker symbol HHSE. The average share price for the past month has been approximately $.016 per share, which several OTC Markets stock analysts have declared to be less than 10% of their expected value of shares once the MyFlix site is launched.

FOR MORE INFORMATION CONTACT: Eric Parkinson, Eric@HannoverHouse.com / 818-481-5277

SOURCE: Hannover House, Inc.

View source version on accesswire.com:
https://www.accesswire.com/653506/Hannover-House-Bumps-Up-Meltdown-Budget-to-20-MM-and-Tags-New-MyFlix-Site-as-USA-Premiere-Partner

FAQ

What is Hannover House planning for the MyFlix streaming service?

Hannover House plans to launch MyFlix with the premiere of the film 'Meltdown' on January 2023, offering over 15,000 titles.

What is the budget for the movie 'Meltdown'?

The budget for 'Meltdown' has been raised from $15 million to $20 million.

When will filming for 'Meltdown' begin?

Filming for 'Meltdown' is set to commence in March 2022.

What is the expected impact of 'Meltdown' on Hannover House's stock?

Analysts suggest the stock price may rise significantly beyond the current average of $0.016 per share due to the MyFlix launch.

What type of film is 'Meltdown'?

'Meltdown' is described as an action thriller akin to 'Die Hard,' featuring a plot centered on stopping a nuclear meltdown.