Hannover House and Medallion Soar Under Universal Music Group Structured Business Model
"NEW YORK, March 27, 2015 /PRNewswire/ 09:36 ET -- Ten years ago, Universal Music Group began consolidating independent video labels to improve revenues and distribution strength. With Tom Sims directing sales into national accounts, the UMG video group rapidly grew to over $180 million per year and into one of UMG's most profitable divisions. Now at Hannover House, Inc. (OTC: HHSE) and managing the newly launched Medallion Releasing, Inc. sales venture, Tom Sims is poised to strike gold yet again. Six indie studios, including Hannover House, have combined to elevate the new Medallion sales venture into one of the most prolific media distributors in America, and the title release count has already surpassed several major studios.
"The changes here have been profound in the past few months," said Eric Parkinson, C.E.O. of Hannover House. "We have gone from a total six new release titles in each of the past two years, to over 90 DVD and Blu-ray releases for 2015. The core business of packaged goods distribution has always been profitable for Hannover House. This new business model takes what has been profitable and what has been working, and escalates it by more than ten-fold. The impact to our revenues has already been profound. Where this takes us in June, July and beyond will be very exciting," he concluded." ...(much more)
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