Camelot Focused on Global Independent Production & Distribution Opportunities as it Rebuilds
IRVINE, CA, June 13, 2013 — Camelot Entertainment Group, Inc. (OTC: CMGR) (“Camelot”) announced today that it is focusing on global independent production and distribution opportunities, poising itself to benefit from the $145 billion global living room device market, which, according to BCC Research, is expected to reach almost $226 billion by 2015. Driven by technology innovation and consumer demand for comprehensive digital home theater systems, according to MarketLine, the world recorded DVD and video industry will comprise over $56 billion of the total market this year, with sell-through representing 72% of the overall market. As the industry continues to shift to downloading, renting and streaming titles through the internet, the demand for independent production and distribution at lower price points provides unique opportunities for small companies like Camelot, which have the flexibility to adjust to the rapidly changing marketplace and meet consumer demand.
Total consumer spending in the US market alone on home entertainment, including video-on-demand (“VOD”), exceeded $18 billion in 2012 according to The Digital Entertainment Group, the 11th consecutive year it has increased. Spending on Blue-Ray increased 10% while consumers increasingly purchased home entertainment through electronic sell through (“EST”), which jumped 35% in 2012. Total digital distribution spending, including VOD and EST, increased 28%. The independent production and distribution business, which is the main focus of Camelot, is directly aimed at the home entertainment sector.
The Company recently announced that it has begun ramping up its initial multiple film production slate of at least 12 independent films with Camelot subsidiaries Camelot Film Group and Camelot Distribution Group overseeing and implementing production and distribution of the slate.
The Company is in the process of making several changes that it hopes will enable it to take advantage of the rapidly changing marketplace in the financial sector and in the film industry. The Company will continue to release additional information on the production slate, rebuilding efforts and other changes as that information becomes available.
About Camelot Entertainment Group, Inc.: Camelot Entertainment Group, Inc. is a US publicly traded company (symbol “CMGR”) with three major divisions: Camelot Film Group, including Camelot Distribution Group, Camelot Studio Group and Camelot Media Services Group. Camelot is building a different kind of motion picture studio infrastructure by redefining the development, financing, production, and distribution process. For information about Camelot Entertainment Group, Inc., please visit our web site at www.camelotent.com.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in our Securities and Exchange Commission Reports and Filings.
Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon Camelot’s current expectations and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.