July 30, 2008
Genius Products Expands into Music Content Through Multi-Year Distribution Agreement With Record Label Hi Fi Recordings, a Division of The Music Publishing Company of America
Genius Products, LLC, a leading independent home entertainment distribution company, today announced a multi-year distribution agreement with Hi Fi Recordings, the record label subsidiary of The Music Publishing Company of America ("MPCA"), an independent publisher founded in May 2006. Hi Fi Recordings, founded in 1995, has built a deep and profound roster of artists including Donnie Osmond, Marie Osmond, Donnie and Marie Osmond as a duo act, Melinda Doolittle, Todd Rundgren, Dionne Warwick and Smash Mouth. The history of Hi Fi Recordings boasts the releases of successful hit albums from the likes of Avril Lavigne and Spacehog among others. Now acting as the recorded music label arm of MPCA, Hi Fi Recordings is dedicated to working with marquee recording artists while also achieving synergies with its vast collection of publishing copyrights.
The announcement was made today by John Hecker, Chairman and CEO and John Titta, President and COO of MPCA and Stephen K. Bannon, Chairman and Trevor Drinkwater, President and CEO of Genius Products, Inc. (OTCBB:GNPI).
Mr. Drinkwater continued, "The music model we have begun to execute is consistent with our well established DVD model which is focused on working closely with retail and our content partners to develop consumer centric programs in both the physical and digital form. MPCA/Hi Fi Recordings is the perfect partner for us in this venture as we both believe there is a better way to distribute music."
Under the terms of the multi-year agreement, Genius Products will have the domestic distribution rights for all physical and digital content from a wide array of well-known current and future artists including Donnie Osmond, Marie Osmond, Donnie and Marie Osmond as a duo act, Melinda Doolittle, Todd Rundgren, Dionne Warwick, and Smash Mouth. In addition, Hi Fi Recordings is currently in negotiations with several well known artists and expects to announce the expansion of its roster in the near future.
"In a very short time period we have built a leading roster of artists across every genre of music," stated John Hecker, Chairman and CEO of MPCA. "We fully believe that by partnering with Genius, an expert in entertainment products distribution, we will significantly expand the reach of our artists work and fully capitalize on MPCA/Hi Fi Recordings content."
"I am very proud of our track record of strategically expanding our position in the entertainment industry through the introduction of new media brands and content-provider partnerships across the four verticals of Sports, Family/Faith, Lifestyle and Independent Film product segments," said Stephen K. Bannon, Chairman of Genius Products. "Now that we have established our company as a leader in media distribution, we believe expanding into new areas such as video game and music content distribution offers us a tremendous growth opportunity and this new relationship with MPCA/Hi Fi Recordings signals our official expansion into this area."
About Genius Products
Genius Products, Inc. (OTCBB:GNPI), along with The Weinstein Company Holdings LLC, together owns Genius Products, LLC, a leading independent home-entertainment distribution company that produces, licenses and distributes a valuable library of motion pictures, television programming, family, lifestyle and trend entertainment on DVD and other emerging platforms through its expansive network of retailers throughout the U.S. Genius handles the distribution, marketing and sales for such brands as Asia Extreme(TM), Discovery Kids(TM), Dragon Dynasty(TM), Dimension Films(TM), Entertainment Rights, Classic Media and Big Idea (Entertainment Rights group companies), ESPN(R), IFC(R), RHI Entertainment(TM), Sesame Workshop(R), The Weinstein Company(R) and WWE(R). Genius Products, Inc. is the managing member of Genius Products, LLC, in which it holds a 30% equity interest.
About Hi Fi Recordings
Based in New York City, Hi Fi Recordings was founded in 1995 by entrepreneur and respected music industry insider John Hecker. Originally a joint a venture with major labels Elektra, Arista and Virgin Records, Hi Fi Recordings, history boasts the releases of successful hit albums from the likes of Avril Lavigne, Spacehog, Marvelous 3 and Isyss, among others. Now acting as the recorded music label arm of Music Publishing Corporation of America (MPCA), an independent publisher founded in May 2006, Hi Fi Recordings is dedicated to working with marquee recording artists while also achieving synergies with its vast collection of publishing copyrights.
About The Music Publishing Company of America
The Music Publishing Company Of America (MPCA) is an independent publisher founded in May 2006. A boutique company based on the model of old time music publishers, MPCA keeps its focus on what drives the business: the songwriter and the song. MPCA's catalog is deep and profound, encompassing every genre of music including historical Blues, R&B/Urban, Country, Contemporary Christian, Classic Pop and Contemporary Pop and R&B.
Safe Harbor Statement
Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements. The forward-looking statements reflect assumptions and involve risks and uncertainties that may affect Genius Products' business, forecasts, projections and prospects, and cause actual results to differ materially from those in these forward-looking statements. These forward-looking statements include, but are not limited to, statements relating to the anticipated success of the described distribution agreement, the number and/or anticipated timing of releases under the distribution agreement and any other statements relating to the described transaction and the anticipated effects thereof that are not historical statements of fact. Actual results could vary for many reasons, including but not limited to, the success of the strategic alliance between Genius Products and Hi Fi Recordings, the unpredictability of audience demand, the popularity of the HI Fi Recordings and the effect of technological change and the availability of alternative forms of entertainment. Other such risks and uncertainties include the matters described in Genius Products, Inc. filings with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of this press release.