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Film Fresh Launches Growth FinancingCompany Seeks to Capitalize on Momentum From Platform Launch, New OEM and Mobile Partnerships and UltraViolet Initiative (April 10, 2012)
LOS ANGELES, CA -- (Marketwire) -- 04/10/12 -- Film Fresh Inc., the only independently owned digital film retailer offering Hollywood, independent and international content, has announced that its board of directors is launching an institutional capital raise. The company has engaged B. Riley & Co., LLC as its exclusive financial advisor in connection with the growth financing.
Film Fresh formally launched on the RoxioNow platform at the Consumer Electronics Show in January 2012. The announcement reflects an exclusive focus on digital delivery (streaming and downloading), expansion to over 6,000 titles and an introduction of the proprietary Film Finder discovery tool. "The digital delivery of home entertainment is undergoing a rapid evolution, with consumers increasingly frustrated by the limited content selection available through subscription services," commented Rick Bolton, President and Chief Executive Officer. "As a transactional service, Film Fresh provides great content that is not interrupted by ads or by waiting periods imposed on subscription and kiosk services."
Along with its service at FilmFresh.com, the company is aggressively expanding its footprint by launching satellite stores on scores of living room and mobile devices. In May 2012, Motorola will feature Film Fresh's new Android store on the XOOM tablet as part of a strategic initiative between the two companies. As an independent operator, Film Fresh is a logical partner for leading device manufacturers. The company is also developing an early market UltraViolet platform to provide consumers with access to digital film purchases across a multitude of consumer electronic devices.
"Film Fresh has cultivated attractive content agreements, technology partnerships and proprietary discovery features to create a unique consumer experience. The upcoming growth financing will allow us to capitalize on our recent momentum by targeting specific business development initiatives, making key operational hires and exploiting near-term opportunities to promote the Film Fresh brand," said Bolton.
About Film Fresh
Headquartered in Los Angeles, Film Fresh is the last independently owned digital film retailer of Hollywood, independent and international content. As an early adopter of download technology, Film Fresh developed the first DivX digital storefront in North America. The company recently launched on the RoxioNow platform and now provides consumer-friendly digital download and streaming formats for a variety of operating systems and CE devices. To learn more, visit www.filmfresh.com.
About B. Riley
Headquartered in Los Angeles, California, with offices in San Francisco, New York and Newport Beach, B. Riley & Co. is a FINRA member firm providing research and trading ideas to institutional clients and high net worth individuals, and investment banking services to a wide range of middle-market private and public companies. To learn more, visit www.brileyco.com.
For more information on Film Fresh, contact:
President & Chief Executive Officer
For more information regarding Film Fresh's growth financing, contact:
Adam M. Goldston
Chris W. Ankley
Senior Vice President
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