Hannover House Announces New Executive Offices
Nov 11, 2016
OTC Disclosure News Service
Fayetteville, AR –
Hannover House, Inc. (OTC: HHSE) announced today that it has completed the move
of corporate and administrative offices for the company and affiliates,
including Medallion Releasing, Inc., Bookworks, Inc. and VODWIZ, Inc. The new
offices are located in an executive office building located at 300 N. College
Ave., Suite 311, in Fayetteville, Arkansas, 72701. The new primary telephone
number is (479) 521-5775.
Previously, Hannover House had operated since 2008 out of a
combination warehouse-office space located in an industrial section of
Springdale, Arkansas. As the company’s core DVD sales have grown recently, the
opportunity to move the warehousing operations over to Technicolor Labs enabled
the company to move its management and staff into executive offices. The new
offices include suites for both Eric Parkinson (C.E.O) and Fred Shefte
(President), plus offices for accounting, technical services, marketing,
reception and “small order” pick-and-pack. Large DVD and BluRay
shipments to key accounts – including Walmart, Target, Best Buy, K-Mart and
Redbox – will originate at the replicator level and will not require Hannover
to maintain a dedicated warehouse space.
Hannover House and Medallion Releasing have emerged as one of the
more prolific and recognized independent studios, with an impressive surge of
sales activity over the past six months following a new wholesale distribution
pact with Cinedigm Entertainment. Previously, most of the company’s DVD and
BluRay titles were sold through Anderson Merchandisers and Allegro Music Group.
In late 2015, Anderson was purchased by Our Alchemy, LLC, which Hannover House
managers accurately predicted would prove to be a fatal move. Accordingly,
Hannover House promptly moved its mass merchant distribution activities over to
Cinedigm, as as a result, was spared from the devastation that many other other
independent studios suffered when Alchemy filed for bankruptcy a few months
ago. With more than 20 former distribution company competitors no longer operating
or releasing new titles, Hannover House and Medallion releases have enjoyed a
surge in placement success and net retail sales.
Cinedigm is also handling physical video sales activities for the
territory of Canada, which were previously handled by Allegro Music Group.
Although Allegro has not filed for bankruptcy, in August they ceased video
distribution activities in Canada and stopped paying their suppliers.
Hannover’s transfer of Canadian sales over to Cinedigm months earlier has
proven to be another prescient decision for management.
Hannover House has also applied a greater emphasis recently on
releasing films theatrically prior to home video or video-on-demand exposure.
This move into theatrical caliber titles has resulted in new revenue streams as
well as enhanced credibility for the company’s releases when they are presented
later for sales into the ancillary markets. The company is also pursuing
several high profile, original feature film productions (with financing support
through State of Arkansas incentives), and a proprietary video-on-demand portal
through VODWIZ, INC. All of these operational, distribution and marketing
activities will be managed out of the new executive offices.
The company was founded in 1993 and has operated continuously for
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