PALO ALTO, Calif., May 24, 2024
/PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE
American: MPU), today announced that Yuder PTE, LTD, the Company's
indirect majority-controlled subsidiary and operator of FlexTV, has
formed a strategic cooperation with Foxmedia Co., Ltd., 100%
controlled subsidiary of Neorigin Co.(KOSDAQ: 094860) and the
operator of TopReels, the leading short drama platform in
South Korea.
The Company and Neorigin Co. will jointly establish a
$10 million content fund aimed at
promoting joint investments, production, and distribution of
original short drama projects. MPU COO Steven Gao, FlexTV CEO Zhenjun Cao, NEORIGIN CFO Jimmy Liu, and TopReels head Ryan Jeong attended the signing ceremony. This
collaboration signifies that FlexTV and TopReels will engage in an
in-depth partnership in the Korean market to create and deliver
high-quality original short drama content, thereby enhancing the
quality of the short drama platform.
FlexTV, as a short drama platform, has attracted the users from
over 100 countries worldwide due to its deep insights into user
needs and continuous innovation in content production. Its hit
drama "Mr. Williams! Madame Is Dying" has drawn a large number of
paying viewers from the U.S. and Europe markets. Future short drama productions
will continue to feature exciting plot designs and outstanding
visual effects. Currently, FlexTV's target is to become the global
leader in short drama platforms. The strategic cooperation with TopReels will help FlexTV
expand its content variety, create premium productions, replicate
those with million-dollar potential, and enhance its global
influence.
Mr. Yucheng Hu, CEO of Mega
Matrix Corp. said, "In this era, changes in users' vertical screen
consumption habits bring about new product opportunities, and the
global short drama market holds high growth and high expectation
potential. The European and American markets offer a broader range
of topics and a strong user base accustomed to paying for content.
For short dramas to go global, a robust content supply chain must
be established to continuously provide users with high-quality
content. TopReels has a stable content supply capability, and this
strategic partnership is a critical step for FlexTV in building an
overseas content ecosystem. It will help further increase content
reserves, broaden content categories, and enhance global
influence."
TopReels head Ryan Jeong
remarked: "Currently, Chinese short dramas, as a new type of film
and television content, are sparking a wave of 'CEO romance dramas'
worldwide, driven by the shared emotional expressions in Eastern
and Western cultures. The strong alliance between TopReels and
FlexTV is timely. This collaboration will fully leverage TopReels'
high-quality production resources and capabilities in Korea, adding
more original categories and producing more premium global
content."
About Mega Matrix: Mega Matrix Corp. (NYSE AMEX:
MPU) is a holding company and operates FlexTV, a short-video
streaming platform and producer of short dramas, through Yuder Pte,
Ltd., an indirect majority-controlled subsidiary of Mega Matrix.
Mega Matrix is a Delaware
corporation headquartered in Palo Alto,
CA. For more information, please contact info@megamatrix.io or visit:
http://www.megamatrix.io.
About NEORIGIN:Neorigin Co. (KOSDAQ: 094860) is a
diversified global enterprise, with its main business areas
encompassing IP operations, game distribution, short dramas, and
cross-border e-commerce. With strong global distribution
capabilities covering over 150 countries, NEORIGIN identifies and
acquires IPs with market value for operation. The company has
global distribution experience for games such as Fantasy Babies,
Desperate Housewives, and My Own Angel. By acquiring the original
IPs of Luna and Fantasy Babies, NEORIGIN has expanded its game
portfolio. Additionally, the short drama and e-commerce platform
businesses will significantly enhance the company's value.
https://www.neorigin.com/
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. All statements in
this press release other than statements that are purely historical
are forward looking statements. When used in this press release,
the words "estimates," "projected," "expects," "anticipates,"
"forecasts," "plans," "intends," "believes," "seeks," "may,"
"will," "should," "future," "propose," and variations of these
words or similar expressions (or the negative versions of such
words or expressions) are intended to identify forward-looking
statements. These forward-looking statements are not guarantees for
future performance, conditions or results, and involve a number of
known and unknown risks, uncertainties, assumptions and other
important factors, many of which are outside the Company's control,
that could cause actual results or outcomes to differ materially
from those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate future acquisitions; ability to grow and
expand our FlexTV business; ability to execute the strategic
cooperation with TopReels, ability to obtain additional financing
in the future to fund capital expenditures; fluctuations in general
economic and business conditions; costs or other factors adversely
affecting the Company's profitability; litigation involving
patents, intellectual property, and other matters; potential
changes in the legislative and regulatory environment; a pandemic
or epidemic; ; the possibility that the Company may not succeed in
developing its new lines of businesses due to, among other things,
changes in the business environment, competition, changes in
regulation, or other economic and policy factors; and the
possibility that the Company's new lines of business may be
adversely affected by other economic, business, and/or competitive
factors. The forward-looking statements in this press release and
the Company's future results of operations are subject to
additional risks and uncertainties set forth under the heading
"Risk Factors" in documents filed by the Company with the
Securities and Exchange Commission, including the Company's latest
annual report on Form 10-K, and are based on information available
to the Company on the date hereof. In addition, such risks and
uncertainties include the Company's inability to predict or control
bankruptcy proceedings and the uncertainties surrounding the
ability to generate cash proceeds through the sale or other
monetization of the Company's assets. The Company undertakes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Readers are cautioned not to
place undue reliance on forward-looking statements, which speak
only as of the date of this press release.
Disclosure Channels
We announce material information about the Company and its
services and for complying with our disclosure obligation under
Regulation FD via the following social media channels:
X (f/k/a
Twitter):
|
twitter.com/MegaMatrixMPU
|
Facebook:
|
facebook.com/megamatrixmpu
facebook.com/flextvus
|
LinkedIn:
|
linkedin.com/company/megamatrixmpu
|
TikTok:
|
tiktok.com/@flextv_english
|
YouTube:
|
youtube.com/@FlexTV_English
|
The Company will also use its landing page on its corporate
website (www.megamatrix.io) to host social media disclosures and/or
links to/from such disclosures. The information we post through
these social media channels may be deemed material. Accordingly,
investors should monitor these social media channels in addition to
following our website, press releases, SEC filings and public
conference calls and webcasts. The social media channels that
we intend to use as a means of disclosing the information described
above may be updated from time to time as listed on our
website.
Contact: Info@megamatrix.io
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SOURCE Mega Matrix Corp.