Australian based Media and Entertainment fund Upsense Media Capital has entered into a deal to provide an equity capital investment in California based PRIMA Cinema, Inc. Prima is the world’s first theatrical digital distribution company to offer highly secure delivery of first run theatrical release films to private home theaters during the theatrical window. Under the terms of the deal, in exchange for its equity and board representation Upsense will provide Prima with growth capital aimed at supporting the roll out of its second generation video system and its expansion in the MENA, Asian and Australian markets and well as its continued growth in the US.
The company currently markets and sells the luxury PRIMA Cinema movie player technology product to clients in major metro markets across the United States through over 150 retail dealers, and its clients include Hollywood celebrities, directors, producers, sports franchise owners, pro-athletes, high-net worth entrepreneurs, Wall Street titans, senior Washington D.C. diplomats and serious home theater enthusiasts.
Shawn Yeager, CEO of PRIMA Cinema added: “The future of entertainment will be shaped by providers who not only offer value and choice to their existing customers, but who are also able to identify exciting new markets. Our partnership with Upsense allows us to expand into MENA, Asian and Australian Private Home Theater markets, as well as to continue growth in the US. Overall, this deal gives us the potential to be extremely successful globally.”
“We are excited to partner with Upsense Media Capital”, commented Lee S. Weinstein, Chairman of PRIMA Cinema. “Not only will this investment allow PRIMA to launch our new 4K movie player into global markets, but their significant experience in the media & entertainment world will help us acquire additional premium content and explore other opportunities to further expand our client base and revenues.”
Mark Spillane from Upsense describes the investment “The partnership with Prima Cinema is a satisfying step for us. Being a part of the team assisting this innovative company identify and grow into international growth markets with confidence is an exciting idea”.
RJ Bucaria from Upsense remarked “As we continue to watch the progression of the film industry in the digital age we recognized that the opportunity that Prima represents is a furtherance of that progression. As in-home entertainment technology continues to improve, the ability for consumers to have the option to choose to enjoy first run theatrical films in their home continues to empower consumers and their desire to have a greater control over where, how and when they consume content. The further fact that Prima is able to deliver this premium content without sacrificing the in theater quality of the picture or audio is a tremendous step forward for both content creators and distributors.”
About Prima Cinema
PRIMA Cinema, Inc. is the world’s first and only digital distribution company to offer highly secure delivery of theatrical films to the Private Home Theater market same day as theaters, and is based at the Manhattan Beach Studios in Los Angeles. Since launch, PRIMA has released over 250 theatrical films to high-end clients with home theaters, and plans to deliver a new 4K movie player by the end of 2018. The company is Hollywood-backed by Universal Pictures, Paramount Pictures, IMAX Corp, Syncom Venture Partners and CUBE Capital Group, and is run by an experienced management team with extensive expertise in digital media, content security and the entertainment industry. www.primacinema.com
About Upsense Media Capital
Upsense Media Capital Pty Ltd is a specialist investment firm offering investment in the Entertainment and Media (E&M) sectors through the Upsense Media Capital Fund (http://upsensecapital.com) to wholesale investors. Established as a Joint Venture between Unbreakable Group Holdings Pty Ltd (AU) and Prolific Media Holdings LLC (USA), Upsense Media Capital Pty Ltd seeks to provide investment opportunities to institutional and private investors within a number of key segments in the Entertainment industry. Strategically sourced by a successful management team comprised of veteran industry professionals with 100+ years of combined experience in entertainment and fund management – film / television / music production, gaming, virtual reality, live events, distribution and more – Upsense Media Capital provides investors access to a diverse slate of marquee high profile investment opportunities while providing a disciplined approach to mitigating the risk to our members / investors which is grounded in decades of hands-on operational experience. Upsense Media Capital is aiming to build a diversified portfolio of Media and Entertainment investments with a historically verifiable financial track record, with an eye toward creating a stable baseline of fiscal performance that will endeavour to return an above market performance yield.
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