San Francisco, June 02, 2016 (GLOBE NEWSWIRE) -- SMC Entertainment’s CEO Ralph Tashjian announced today that the Company has expanded its reach in the entertainment business. The new divisions will enhance the existing revenue streams and leverage the Company’s extensive relationships within the business.
The core business of SMC is a record label and digital content distribution company. In addition to these services, the Company will offer an entirely new suite of artist services, including but not limited to social media management and promotion, global digital distribution, web development, brand creation, and merchandise.
To stay consistent with the new direction of SMC, the Company will no longer carry any physical inventory. “The decision to no longer carry any physical inventory shows the company’s commitment to digital distribution and has the added benefit of increased cash flow, as cash is not tied up in inventory” Tashjian said. “This move will also eliminate the return of products and decrease the uncertainty of sales returns that plague physical distribution companies.”
SMC continues to exploit its vast catalogue of music and is constantly expanding into new territories to maximize the revenue earned from distribution of its catalogue.
“We are very excited about the expansion and diversification of the Company,” stated Tashjian. “We feel that we are positioned very well within industry and have done very well adapting to the rapidly changing environment, while not losing touch with the artists and sticking to our core values of exceptional, personal service.” He continued “These coming months will be very exciting for the Company as we roll out our new services and refine our core competencies. I am looking forward to sharing these exciting updates.”
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Safe Harbor Statement:
This press release contains statements, which may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of SMCE, members of their management, and assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
Source:SMC Entertainment Inc.