Amcomri Entertainment Inc has announced the acquisition of a majority stake in UK-based 101 Films.
AMG brings financial support and retail experience to 101 Films, enabling it to expand its content libraries and compete for the best independent movies for distribution in the UK.
Paul McGowan, Chairman of AMG, said, “101 Films is the perfect platform for us to enter the world of movie distribution as we seek to take advantage of the rapidly changing environment for both physical and digital distribution not only in the UK but across the globe. Managing Director, Larry Howard, will support the excellent team at 101 Films to take the business to the next level.”
101 Films has been distributing independent production content in the UK since 2011 and currently holds the rights to 122 movies. This year, it is expecting to sell 500,000 DVD and Blu-ray units, representing a 35 per cent increase on 2013 sales.
The team at 101 Films is excited about the potential to grow with the support of AMG. CEO Andy Lyon anticipates growth in both the quality and quantity of titles that can be accessed and distributed.
“The commitment to moving outside of the UK and into the market for global distribution rights is a fantastic step forward for the business and we look forward to the journey,” he said.