AB INTL GROUP Announces Business Updates
NEW YORK, Oct. 18, 2022 (GLOBE NEWSWIRE) -- AB International Group Corp. (OTC: ABQQ), an intellectual property (IP) and movie investment and licensing firm today announced business updates.
License of NFT Movie and Music Marketplace
AB granted to a metaverse operator a worldwide license to a NFT movie music marketplace (the “NFT MMM”), for an initial period of one year from August 20, 2022 to August 19, 2023, subject to a right to renew. The IP of the platform is owned by ABQQ. Under the Agreement, Metaverse is obligated to pay ABQQ $100,000 as setup fee within 3 days of the date of the Agreement and monthly pay license fee $60,000.
AB plans to continue partnership with service provider, attract movie owner to roll out their movie NFTs at AB’s NFT MMM, those movies will release in global market.
Movie Theaters
AB’s cinemas business entity AB Cinemas NY, Inc. operations “The Mt. Kisco Theatre New York” is ready for a grand opening soon.
AB enter a Master License Agreement with Universal Studios’ company Universal Film, regarding the theatrical exhibition of Universal motion pictures and/or such other audiovisual content as Universal may elect to distribute (whether by film print, digital cinema package (“DCP”), DVD, by wireless, or other method now known or hereafter created) (each such motion picture or other audiovisual content) by AB Cinemas NY, Inc.
AB obtain a license for United Artists Releasing motion pictures for exhibition at AB Cinemas NY theatres. United Artists Releasing, founded in 2019, is a U.S. theatrical releasing company built upon the legacy of the iconic United Artists motion picture studio, providing a home where filmmakers are supported by thoughtful approaches to marketing, publicity and distribution. United Artists Releasing offers content creators an alternative distribution option outside of the studio system, and in addition to supporting Annapurna, MGM and Orion film slates, the company also releases third-party films. United Artists Releasing is a joint venture between Metro-Goldwyn-Mayer (MGM) and Annapurna Pictures (Annapurna).
AB continues its theatre acquisition strategy, currently in negotiations to potential acquisitions of 10 locations 72 screens.
License of Movies
AB is planning to present 3 new movies “On The Way”, “Dad, don’t worry”, and “Nice to Meet You” will be released global online and in NY theaters in December.
AB has newly acquired 5 movies and 25 parts TV dramas, will be released on Summer 2023.
Video Streaming Service
AB provided video streaming service contents website abqq.tv and ABQQ Channel on YouTube, the services marketed and distributed in global under the brand ABQQ.tv. AB continues its subscriber acquisition strategy by contents organic growth, currently in negotiations to potential acquisitions of 200 parts TV drama series and movies.
About AB International Group Corp.
AB International Group Corp. is an intellectual property (IP) and movie investment and licensing firm, focused on acquisitions and development of various intellectual properties. We are engaged to acquisition and distribution of movies. The Company plans engages operation movie theaters in NY into nationwide. The Company engages highly anticipated video streaming service targeting global multi-billion dollar and growing video streaming industry. The online service will be marketed and distributed in the world under the brand name ABQQ.tv. ABQQ.tv is expected to generate a new and profitable revenue stream immediately following its launch derived from its hybrid subscription and advertising business model. The company owns the IP of the NFT movie and music marketplace (NFT MMM) as the unique entertainment industry Non-Fungible Token.
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Forward-Looking Statements
This press release contains "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements relating to changes to the Company's management team and statements relating to the Company's transformation, financial and operational performance including the acceleration of revenue and margins, and the Company's overall strategy. Because forward-looking statements inherently involve risks and uncertainties, actual future results may differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the possibility of business disruption, competitive uncertainties, and general economic and business conditions in AB International Groups markets as well as the other risks detailed in company filings with the Securities and Exchange Commission. AB International Group undertakes no obligation to update any statements in this press release for changes that happen after the date of this release.
Investor Relations Contact:
Jeff Deng
(212) 918-4519
