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StarStream Entertainment Demonstrates Strong Fundamentals as One of Hollywood's Fastest Growing Independent Producers(February 20, 2014)
LOS ANGELES, Feb. 20, 2014 (GLOBE NEWSWIRE) -- Under the stewardship of CEO Kim Leadford and her team, StarStream Entertainment (OTCQB:SSET) has had a landmark year, releasing three critically acclaimed films – LEE DANIELS' THE BUTLER, LIFE OF CRIME, and LIFE AFTER BETH.
StarStream invested in and executive produced the 2013 box office success, LEE DANIELS' THE BUTLER, directed by Lee Daniels, starring Forrest Whitaker and Oprah Winfrey. Following in the tradition of epic biopics such as RAY and THE KING's SPEECH, THE BUTLER was released to critical acclaim and enthusiastic audience reception, garnering $25 million in its opening weekend. THE BUTLER continues to soar, taking in over $167 million at the box office to date, already generating impressive revenues for the film's investors. StarStream's significant involvement in THE BUTLER proves its ability to seek out and commit to projects that not only attain commercial success, but leave an important impression on the cultural landscape as well.
StarStream also executive produced LIFE OF CRIME, the film adaptation of Elmore Leonard's novel THE SWITCH, starring Jennifer Aniston, Tim Robbins, John Hawkes, Isla Fischer, Will Forte, and Yasiin Bey. The film's premiere closed out the Toronto International Film Festival, where the company spearheaded a distribution deal with Lionsgate Entertainment.
With LIFE OF CRIME, StarStream joins an impressive roster of filmmakers, such as Quentin Tarantino, who have adapted the work of prolific author Elmore Leonard. The film also gave StarStream the opportunity to work with Jennifer Aniston, a major star with huge box office draw and value in foreign markets. On average, Aniston generates around $70 million at the box office, and a very select number of producers are afforded the ability to capitalize on her extremely profitable talent.
The most recent success for StarStream has been the ground breaking dark comedy, LIFE AFTER BETH, written and directed by Jeff Baena who wrote I HEART HUCKABEES. LIFE AFTER BETH, starring Aubrey Plaza, Dane Dehaan, Cheryl Hines, Molly Shannon, Paul Reiser, and John C. Reilly, premiered in the U.S. Dramatic Competition at the 2014 Sundance Film Festival. The film will be distributed later this year by A24, a New York based finance and film distribution company backed by Guggenheim Partners with a string of recent box office hits, including, THE BLING RING and THE SPECTACULAR NOW. A24 is exactly the kind of culturally relevant company that StarStream aims to work with, demonstrating the company's ability to form strategic and lasting partnerships in the industry. LIFE AFTER BETH is poised to generate significant revenue for StarStream, as well as commercial and critical success in 2014 and beyond.
The success and acclaim of these three projects demonstrates the unique strength of StarStream's feature film production team and its ability to identify motion picture projects that have strengthened its financial base. With incredible taste, a vibrant and experienced team, and strategic financial management, StarStream is positioned to continue its growth, further establishing itself as a leader among independent production and financing companies.
About StarStream Entertainment
StarStream Entertainment is a theatrical motion picture production and financing company focused on producing and financing edgy, high quality motion pictures with strong cast and lean budgets for a commercial audience. www.starstreamentertainment.com
Certain statements contained herein may be forward-looking and involve risks and uncertainties. Such forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of those forward looking statements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such potential risks and uncertainties include, without limitation, the substantial investment required to produce and market films, increased cost to produce and market motion pictures, our ability to raise capital, unpredictability of the commercial success of our motion pictures, the effects of disposition of businesses or assets, technological changes and other trends affecting the entertainment industry, and the risk factors as set forth in StarStream's filings with the Securities and Exchange Commission.
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