Camelot Featured in Film Industry Story
21 Novembre 2008 - 5:13PM
PR Newswire (US)
Workforce Development, Full-Time Employment and Financial
Transparency Highlighted ALISO VIEJO, Calif., Nov. 21
/PRNewswire-FirstCall/ -- Camelot Entertainment Group, Inc.
(OTC:CMLT) (BULLETIN BOARD: CMLT) ("Camelot") announced today that
it has been featured in a NEWS USA feature on the movie industry.
In the article, titled "Film Industry Struggles to Hold Steady on
Shaky Ground", reprinted below, Camelot provides a quick glimpse
into its strategy of providing workforce development, full-time
employment and financial transparency. "(NU) -- Most associate the
movie industry with red carpets and multi-million dollar paychecks.
But in reality, few industry workers see large paychecks or even
have full time employment. Major and independent studios know that
they will lose money on 80 percent of the films produced. According
to the MPAA, in 2007, the average studio movie cost $106.7 million
dollars to produce and distribute, the average studio-related
independent movie $74.9 million. As a result, films must generate
astronomically high revenues just to break even. Major studios rely
on the "Tent Pole System", where the profits from one or two hits
hopefully pay for all the losses. The result is even with worldwide
revenues exceeding $50 billion dollars, investors lose billions of
dollars, studios teeter on the brink, independents fail at an
alarming rate and survivors struggle to cover their operating
budgets. Despite the amount of money being generated and spent,
those making the movies bear the brunt of the studio's faulty
financial structure. For the majority of those working on films,
full time employment does not exist. A crew member typically works
on one film, and then becomes unemployed while searching for
another job. With the increasing globalization of the film
industry, runaway production and tough economic times, even for an
industry normally considered recession proof, rampant unemployment
is the norm, affecting not only Hollywood, but also the economy at
large. Now, some companies are looking to revolutionize the studio
structure. One of those companies, Camelot Entertainment Group,
incorporates the best of the old studio system with the technology
and opportunity of the 21st century. "We can provide workforce
development, full-time employment and financial transparency while
delivering profitable films," says company chairman Robert Atwell.
"We can create opportunities where the creative teams can unleash
their talent while providing a platform for sustained economic
growth. We just need to use the opportunities and tools available
to change the way movies are put together, which will set the stage
for Hollywood to become the dream factory for all involved, not
just for the few at the top." About Camelot Entertainment Group,
Inc.: Camelot Entertainment Group, Inc. is a US publicly traded
company (symbol "CMLT") with three major divisions: Camelot Film
Group, Camelot Studio Group and Camelot Production Services Group.
Camelot is building a different kind of motion picture studio
infrastructure by redefining the development, financing,
production, and distribution process. Creating a world where
filmmaking dreams come true, Camelot integrates early studio
models, education, new technologies and fiscal responsibility to
acquire, develop, finance, produce, market and distribute high
quality commercial motion pictures, television and digital media.
For general information about Camelot Entertainment Group, Inc.,
please visit the Company's web site at
http://www.camelotfilms.com/. NOTES ABOUT FORWARD-LOOKING
STATEMENTS Except for any historical information contained herein,
the matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, including those
described in the Company's Securities and Exchange Commission
Reports and Filings. Certain Statements contained in this release
that are not historical facts constitute forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, and are intended to be covered by the safe
harbors created by that Act. Reliance should not be placed on
forward looking statements because they involve unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements to differ materially from those
expressed or implied. Forward looking statements may be identified
by words such as estimates, anticipates, projects, plans, expects,
intends, believes, should and similar expressions and by the
context in which they are used. Such statements are based upon
current expectations of the Company and speak only as of the date
made. The Company undertakes no obligation to update any
forward-looking statements to reflect events or circumstances after
the date on which they are made. DATASOURCE: Camelot Entertainment
Group, Inc. CONTACT: Camelot Entertainment Group Investor
Relations, +1-949-334-2950, Web Site: http://www.camelotfilms.com/
Copyright