Loading, Please Wait...
LAS VEGAS, Aug. 21, 2018 (GLOBE NEWSWIRE) -- Globe Photos, Inc. (OTCQB:GBPT), a marketer and distributor of vintage Iconic Pop Culture images for the art, editorial and commercial markets, has up-listed from the OTC Pink® to the OTCQB® Venture Market, trading under the same symbol, “GBPT.”
“Our membership in the OTCQB elevates awareness of Globe Photos in the investment community, which we expect to improve liquidity and broaden our shareholder base,” said Globe Photos chairman, Sam D. Battistone. “It represents the next step in our longer-term capital market and corporate development strategy designed to build shareholder value and leverage the tremendous assets we have accumulated with our photo library and collection of rare memorabilia.”
“I see Globe at the early stages similar to our experience at Dreams (NYSE:DRJ),” added Battistone, “with it having the potential for rapid, high-margin growth and value appreciation, as demonstrated by others in our peer group, like Shutterstock and Getty Images.”
Shutterstock recently saw its stock reach record highs on the NYSE after reporting a record second quarter and driving its market cap over $1.7 billion. Getty Images was acquired for 3.3 billion in 2012 by a private firm reportedly betting on the growing demand for online images. Dreams, Inc., a sports memorabilia company inspired by the movie Field of Dreams and founded by Battistone, was acquired by Fanatics in 2013 for $183 million at a 32% premium to the market.
According Globe president, Stuart Scheinman: “This uplist coincides with our recent launch of a new sales and marketing campaign through multiple channels in the art, editorial and commercial markets, where we are offering traditional licensing as well as finished products, like limited editions and collectibles. Our first half of 2018 revenue doubled over the same period last year, and we see this trend continuing through the remainder of the year as this campaign ramps up.”
The new marketing launch follows an extensive period of assembling one of the world’s largest collections of iconic pop culture photographic imagery and collectibles. The Globe Photos library is comprised of over 10 million images taken by more than 3,500 photographers from around the world. The collection features iconic personalities and unforgettable moments from the worlds of entertainment, sports, history and politics.
In addition to the original Globe Photos Agency library that was established in 1939, the collection incorporates several other valuable archives, including the Harris & Ewing Historical Archive, The Frank Worth Archive, The Movie Star News Collection, Jill Gibson Archive, Camera Press and Photo Trends, among others. It also includes a comprehensive stock photography archive of artistic imagery and historical events.
About the OTCQB Venture Market
The OTCQB Venture Market is operated by OTC Markets Group, which also operates the OTCQX Best Market and the Pink Open Market, which collectively trades more than 10,000 U.S. and global securities. Through OTC Link ATS and OTC Link ECN, OTC Markets connects a diverse network of broker-dealers that provide liquidity and execution services. The platform enables investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors. For more information, visit www.otcmarkets.com.
About Globe Photos
Globe Photos, Inc. acquires and manages Iconic pop culture photographic image libraries, with one of the largest and most diverse collections of vintage pop culture imagery in the world. Its library includes more than 10 million iconic images that feature the most beloved Hollywood idols, music stars and most iconic figures of the 20th century. The company markets and distributes images for the art, editorial and commercial markets. It also sells limited editions of its photographs through galleries, art consultants and interior decorators. For more information, visit www.globephotos.com.
Important Cautions Regarding Forward Looking Statements
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions, such as management comments about the anticipated growth in sales for the reminder of 2018. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.
President & Co-CEO
Globe Photos, Inc.
Tel (702) 722-6113
CMA Investor Relations
Tel (949) 432-7566