OOOOO Secures 20,000 Square-Foot Content Studio to Power Virtual Mall of the Future
18 October 2021 - 11:00PM
OOOOO Entertainment Commerce Limited (“OOOOO” or the “Company”)
(OOOO: TSXV), a mobile video commerce platform, is
pleased to announce that it has signed a ten
year lease for a 20,000 square
foot commercial space in Manchester, United
Kingdom to act as a video content
studio and training centre for clients in the UK.
The new flagship studio is located in
Manchester’s famous industrial zone, Trafford Park, and is a key
part of the Company’s strategic initiative to provide retailers,
brands, entrepreneurs, and creators with world-class production
facilities to create video content that is shoppable on the OOOOO
app and other mediums including TikTok, with whom we are
collaborating.
The new studio has multiple infinity coves and
over thirty production themed sets, including a gym, bar, kitchen,
bathroom and even a plane. The studio also offers dedicated space
for top clients, customized for their brand and ready-to-make
content whenever they wish. In addition to production space, the
new facility will act as a centre of excellence to train presenters
and clients in the fast growth area of video commerce.
Sam Jones, Co-Founder and Chief Executive
Officer of OOOOO commented: "In the last 12 months, whilst
helping retailers launch live content on our app, we have
learned that many companies are not fully equipped to embrace
live commerce as they would like. Compared to China, in the UK
there is generally a talent and infrastructure gap for
brands and retailers in what is required to make
outstanding video content that leads to sales. In order
that we become a one stop shop for clients, we need to
offer much more than a live commerce app. We must also provide
studio space, video technology, and training programs for
presenters and creative leaders.”
Mr. Jones continued, “Creating content and
training clients under a single roof enables us to get to
scale. This is what has happened in China with
studio hubs having been created to allow enormous levels of content
output. I believe we can make over 100 shows per day
in this space. With so many shows, we are working
to become a modern version of a mall, replacing stores with
videos. Our intention is to replicate this studio model in
other markets that we enter.” About OOOOO
Entertainment Commerce OOOOO Entertainment
Commerce operates a technology platform that enables retailers,
brands and entrepreneurs to share product-based opinions directly
to consumers through live, interactive, shoppable videos. The
platform also offers gamification and social features which reward
the community for helping to grow the user base, reducing the need
for traditional ad networks. The Company was founded in
2020 by Sam Jones and Eric Zhang and have offices and
studios in the UK and China. Interactive video
commerce continues to explode as a mega-trend in China, estimated
to reach $305 billion this year according to Forbes. OOOOO are
focused on delivering a technology platform and app to enable
brands, retailers and entrepreneurs to embrace the fast
growing live stream economy with its unique interactive video
commerce application available for iOS and Andoid. Having launched
in November 2020, the OOOOO platform has seen over
+360,000 installs to date and successfully onboarded leading brands
across the fashion, sport, beauty and wellness
industries.
For further information please contact: OOOOO
Entertainment Commerce Limited
Sam Jones Chief Executive
Officer |
Investor Relations |
604.265.0771 |
416.842.9003 |
sam@ooooo.com |
investors@ooooo.com |
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Forward Looking Information
Certain statements in this news release may
constitute “forward-looking statements”. Forward-looking statements
are statements that address or discuss
activities, events or developments that OOOOO expects or
anticipates may occur in the future. When used in this news
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industry may be materially different from those implied by such
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information that may be contained in this news release include
statements regarding: growth and future prospects of our
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operate and anticipated trends in such markets; expectations
regarding the operation of our app; and our future
revenues. Material factors or assumptions that were applied in
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forward-looking statements may include, but are not limited to, our
ability to execute on our business plan, increase visibility
amongst consumers and convert users to revenue producing
subscribers and the success of the business of our partners.
Forward-looking statements involve significant uncertainties,
should not be read as a guarantee of future performance or results,
and will not necessarily be an accurate indication of whether
or not such results will be achieved. A number of factors
could cause actual results to differ materially from the results
discussed in the forward-looking statements, including, without
limitation: those relating to potential disruptions to
product delivery; failure to meet regulatory requirements;
changes in the market; potential downturns in economic conditions;
availability of financing (as necessary); and other risk
factors described in our Filing Statement which is available on
SEDAR at www.sedar.com. These risks, as well as others, could cause
actual results and events to vary significantly. Accordingly,
readers should exercise caution in relying upon forward-looking
statements and OOOOO undertakes no obligation to publicly revise
them to reflect subsequent events or circumstances, except as
required by law.
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