The second film is a fresh take on the SNOW WHITE FAIRYTALE which will be shot in Louisiana and China. The script is based off the legendary tale with a new twist incorporating live action and animation.
BSEG will produce along with K7 and its Chinese Investors.
"The entertainment sector is very strong in China with a 40% increase in box office receipts this year and second in the world. It's likely within the next few years, China will surpass the US in box office receipts. Entertainment is being consumed in many different formats today and the need for good content with franchise appeal is at an all-time high," said BSEG CEO Kimberley Kates.
"BSEG Chairman Dr. Jimmy Jiang has very strong ties with Chinese entertainment investors and China Film Group. He recently completed one of the first Sino produced films with major U.S. 'A' List talent for China Film Group," stated Kates.
According to a K7GLOBAL spokesperson, "When our team at K7GLOBAL met everyone in the BSEG's AFM suite four years ago, we realized we had a great deal in common, from production to distribution to financing to writing to producing. BSEG being the catalyst of their own projects, they all knew that, based on the synergies in the room, one day we would work together.
"K7 applauds Ms. Kates' tenacity and drive as she's seen 20,000 LEAGUES UNDER THE SEA grow from infant stages to now being a large budget K7, Big Screen Entertainment Group (BSEG) Chinese co-production slated to shoot on location in both Louisiana and in China. Once Dr. Jimmy Jiang was brought on as Chairman of the Board at BSEG, 20,000 LEAGUES started to climb to levels we would not have reached at this pace on our own.
"This is an exciting new venture which K7 has crafted to toll out as a franchise similar to Disney's PIRATES OF THE CARIBBEAN. There is an obvious reason Disney keeps making additional installments of their mega-franchise: only one film in PIRATES Franchise has a worldwide gross of less than $1b, that being the very first one which pulled in $600million. With 20,000 LEAGUES, we've got the most popular science-fiction novel ever, written by the most recognized science-fiction author of all time, 'The Father of Modern Science Fiction,' Jules Verne."
Both films are slated for theatrical release in the US, International and China.
Companies in the Movie Production industry have been showing signs of growth in recent quarters, particularly in China. Consumers in North America and Emerging markets have been more willing to head out to see movies. North American Box Office is up by 4.7% this last quarter. Ticket sales and concession sales are on the upswing and helping some companies' top-line grow.
ABOUT K7 GLOBAL: K7 is a collection of media companies with offices in Los Angeles and Louisiana. BRANDK7 is the advertising and multi-media division; K7GLOBAL is the international film sales division and K7PICTURES is K7's production arm. The team at K7 is responsible for another Jules Verne adaptation, THE MYSTERIOUS ISLAND, which ended up becoming the #1 Nielsen rated Syfy Original Movie of 2012 with over 2.4m viewers tuning in on February 11. 20,000 LEAGUES UNDER THE SEA is K7's follow up to that 2012 hit.
ABOUT BSEG: Big Screen Entertainment Group (OTC PINK: BSEG) was founded in 2005 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production, and licensing of motion pictures for exhibition in domestic and foreign theatrical markets.
Forward-Looking Statements: A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. When used in this press release, words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements