SRM Entertainment, Inc. - SRM STOCK NEWS

SRM Entertainment has announced a $1.7 million registered direct offering of common stock to an institutional investor at $0.7385 per share. The offering, expected to close around December 6, 2024, will be conducted through D. Boral Capital as the exclusive placement agent. The proceeds are estimated at $1.7 million before deducting placement agent fees and offering expenses. The offering is made pursuant to an effective S-3 registration statement filed with the SEC on September 19, 2024.

SRM Entertainment (Nasdaq: SRM) reported a dramatic 417% increase in Amazon sales since September, driven by strong demand for high-margin products. The company is leveraging Amazon's tools and analytics to optimize product listings and enhance customer targeting. New product launches including Plush Packs, stainless steel drinkware, themed Plush Animals, and themed binoculars are expected to drive continued growth through 2025 and 2026.

The expansion into online markets represents a strategic move to diversify revenue streams while maintaining the company's theme park business. Direct-to-consumer channels through Amazon offer advantages including increased profit margins, enhanced brand control, and valuable customer data insights.

SRM Entertainment (Nasdaq: SRM) has secured a significant order for its misting fans from a major Orlando theme park, totaling $820,000 for US theme parks and $85,000 for international parks. The fans, featuring theme park logos and characters, are designed to provide cooling relief to visitors while serving as keepsakes. The company expects this product line to expand significantly, with potential inclusion in their growing Amazon sales channel. Management anticipates further growth in prominent international theme park markets heading into 2026.

SRM Entertainment (NASDAQ: SRM) has launched SRM Media, expanding its partnership with Suretone Pictures. The division's first acquisition is Suretone Pictures' Western film 'The Kid' (2019), starring Ethan Hawke and Chris Pratt, currently streaming on Amazon Prime. This strategic move aims to combine film distribution with SRM's merchandising expertise. Jordan Schur joins as advisor, bringing extensive film industry experience. The initiative capitalizes on growing Western film demand (146% increase 2021-2023) and digital media consumption trends, targeting Amazon Prime's 200+ million global subscribers.

SRM Entertainment (Nasdaq: SRM) and Suretone Pictures are negotiating an alliance to combine Suretone's film production and distribution strengths with SRM's merchandise and manufacturing businesses. The companies aim to create a new media company, merging Suretone Pictures' assets into SRM by mid-2025, subject to approvals. Jordan Schur, Suretone Pictures' President, will join SRM as an advisor to lead this endeavor.

The initial transaction, closed on September 3, 2024, involved transferring the first of several film assets from Suretone Pictures to SRM. This allows SRM to own and exploit the assets' merchandising, licensing fees, and revenue. Both companies view this as the first stage in creating a valuable media franchise business.

The alliance aims to build a multi-film asset and IP-based library with innovative plans for distribution, merchandising, and production. This expansion allows SRM to obtain proprietary movie and media assets, creating new opportunities in its existing manufacturing business lines.

SRM Entertainment (Nasdaq: SRM) is set to participate in the 2024 Las Vegas Souvenir & Resort Gift Show from September 17-20 at the Las Vegas Convention Center, Booth 2549. The company will unveil several innovative product lines, including:

1. RGB LED Custom Light Stick Designs: Bluetooth-controlled light sticks with integrated custom app for the Location-Based Entertainment industry.

2. 'Sip With Me' drink cup collection: Customizable drinkware for resorts, amusement parks, and gift shops.

3. Custom Design Programs: Tailored merchandise solutions for branding and unique product creation.

SRM's President will be present to showcase these products, aiming to position the company as a leader in innovative souvenir and gift solutions, expand into the LBE market, and forge strategic partnerships with retailers and venue operators.

SRM Entertainment, Inc. (Nasdaq: SRM) has announced new orders and expanded distribution for its custom-designed ICEE brand Sip With Me drink cups. These nostalgic cups will be available in theaters across the United States in the coming weeks. SRM specializes in providing premium merchandise for licensed brands, many of which are based on blockbuster movies.

The company's products aim to connect consumers with their favorite characters and brands while enhancing the movie merchandising experience in theaters. CEO Rich Miller emphasized SRM's focus on developing innovative products that add lasting value to their customers' brands, stating that the entertainment industry allows them to create memories and bring magic and nostalgia to life through the in-theater purchase experience.

SRM Entertainment announces a new order for custom designed nostalgic movie character keychains. These keychains will be available online and in physical shops at one of the world's largest movie theater chains. The initial order aims to enhance the merchandising experience for moviegoers, allowing them to purchase memorabilia, souvenirs, and gifts directly in theaters. CEO Rich Miller emphasized the importance of in-theater purchases, drawing parallels to the theme park merchandise experience. This initiative is part of SRM's strategy to find new opportunities to connect with customers and offer products that excite them.

SRM Entertainment, Inc. (Nasdaq: SRM) announces a new order for misting fans to help theme park guests beat the summer heat. The 30,000+ unit order from a major regional amusement-resort operator marks SRM's expansion in the entertainment industry, focusing on enhancing guest experience.