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Truli Media Group Enters China Market: Mandarin Language Content Seen Adding to Revenue in Q1-13(December 12, 2012)
LOS ANGELES, CA -- (Marketwire) -- 12/12/12 -- Truli Media Group, Inc. (OTCQB: TRLI), parent company of Truli.Net, a global faith-based & family friendly media content platform and social community hub, today announced it has signed an agreement with Metan Development Group ("Metan") in which Metan will provide Truli.Net with Mandarin language content.
Los Angeles-based Metan (www.metandevelopmentgroup.com) develops television programming specifically for the Chinese marketplace and is led by president/CEO Larry Namer, an entertainment industry veteran with over 40 years professional experience in cable television, live events and new media. Namer co-founded E! Entertainment Television, a company now valued at over $3.5 billion.
"Truli.Net is focused on revenue, content and establishing our global footprint," said Michael Jay Solomon, Founder, Chairman and CEO of Truli Media Group. "Today, we are implementing e-commerce, VOD premium content streaming technologies and payment systems including PayPal which are beginning to produce preliminary revenue that I expect to ramp up sharply in the first quarter.
"When it comes to worldwide reach," Mr. Solomon continued, "we have to be in the Mandarin language market. There are an estimated 50 to 60 million Mandarin speaking people living outside China that Truli.Net will serve, and we want to have as much quality Mandarin content as possible. There is no better partner for Mandarin content than Metan with its entire veteran management team. We are confident that our Truli.Net Mandarin initiative will begin generating solid revenue streams next quarter boosting that of our English language content. Spanish language will be our third major language vertical in 2013."
Namer commented, "Michael is a pioneer in global media content distribution. He introduced Western programming into China 25 years ago. He was also the first person to distribute E! Entertainment content internationally, which is how we met many years ago."
He added, "No one in the industry, anywhere, is better qualified than Michael and his Truli.Net platform, to distribute our Mandarin language productions through Internet-based media. I look forward to a long and successful close collaboration with Truli Media Group."
Under the terms of the non-exclusive agreement, Metan will provide the Truli.Net digital media platform with Mandarin language television programming, film, and premium video on demand (VOD) content. Both companies will split all VOD revenue 50/50.
Metan will begin this month uploading all the episodes of its hit Mandarin language series, Hello! Hollywood, to Truli.Net. Hello! Hollywood is a weekly entertainment news show, bringing Hollywood news, gossip, information and trends to China. The show also covers Chinese pop culture that boasts over 45 television stations broadcasting across China and reaches over one billion people throughout China. In addition to China, Hello! Hollywood is broadcast to Chinese audiences in New York, San Francisco and Los Angeles. The US viewership hovers around six million households.
Truli plans to add Mandarin language advertising to its Mandarin language web pages with sophisticated ad software from companies such as Baidu and Google. Accordingly, the Company expects revenue from Mandarin language content will commence in the first quarter of 2013, and to accelerate throughout the year providing a new, potentially substantial, revenue stream.
About Hello! Hollywood
Hello! Hollywood reports on the latest in celebrity interviews and lifestyle news, covering glamorous red carpet events, concerts and award shows and offering up special insider tours of Hollywood's new hotspots and exclusive television and movie set visits. Hello! Hollywood has interviewed some of the world's top names from the world of entertainment including Johnny Depp, Jackie Chan, Gwyneth Paltrow, Cameron Diaz, Bruce Willis, Sylvester Stallone, Eva Longoria, Taylor Lautner, Robert Pattinson, Kristin Stewart, David Beckham, Zac Efron, Jeremy Renner, and Seth Rogan, among many others.
Hello! Hollywood also produced a series of segments surrounding Disney's hit movie High School Musical China. Since its launch, the series, the first of its kind in China, has attracted a number of major multinational brands, including Philips, Colgate and Ford.
About Metan Development Group
Launched in 2009, Metan Development Group LLC is a venture created to develop and distribute entertainment content and media specifically for international markets. The company's founders are entertainment industry veteran Martin Pompadur, E! Entertainment Television co-founder Larry Namer and Amerilink founder Jean Zhang. Metan first launched in early 2009, and since then has made incredible inroads in developing the media market in China. Metan's flagship series Hello! Hollywood premiered in September 2009 and today reaches a potential one billion viewers on 45 stations in China and nine in the United States and Canada. Hello! Hollywood is also available on China's top Internet portals with an estimated four million viewers weekly (www.metandevelopmentgroup.com).
About Truli Media Group
Truli Media Group, Inc., parent Company of Truli.Net, was founded by entertainment industry veteran executive Michael Jay Solomon. With an iconic, successful track record in developing and leading worldwide television media distribution companies, Solomon is the former co-founder, Chairman and CEO of Telepictures Corp, President of Lorimar-Telepictures Corp and former President of Warner Bros. International Television.
Truli.Net offers a single platform that is flexible and easy to use to connect users enabling the delivery of relevant content to the Evangelical community market of 100+ million people in the U.S. (and 600+ million outside the U.S.) representing $4.3 billion of annual gross industry sales.
For more Truli.Net, go to its Facebook and Twitter pages and join the conversation.
Safe Harbor Statement
This news release contains statements that involve expectations, plans or intentions (such as those relating to future business or financial results, new features or services, or management strategies) and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. You can identify these forward-looking statements by words such as "may," "should," "expect," "anticipate," "believe," "estimate," "intend," "plan" and other similar expressions. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of certain factors not within the control of the company. The company cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.
Truli Media Group
(866) 692-6847 Toll Free - U.S. & Canada
Nicole Goesseringer Muj
T: (310) 804-0964
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