Somerville-based Authentic Holdings on Tuesday said it completed the acquisition of Goliath Motion Pictures Promotions.
“The acquisition of Goliath Motion Pictures Promotions represents a strategic corner of the puzzle in Authentic Holdings Inc. building a substantial media and merchandising company,” Chris Giordano, chairman and president of Authentic Holdings, stated. “Goliath has been building its massive catalogue for 17 years. It includes over 15,000 full length movies and serial television shows from every genre starting from the 1940s through 2021. In addition to now having a large library of movies, we will continue to add hundreds of movies each month to increase the depth and breadth of the Goliath Motion Pictures library for its upcoming monetization in the very near future.”
Authentic Holdings said tokenizing will allow the Somerville-based company to distribute Goliath’s content to platforms not only here in the U.S. but also overseas, without risk of piracy and payment for services.
The library will also provide Maybacks Global Entertainment Network, an earlier acquisition of Authentic, with an enormous amount of additional programming. In addition, it will also create a potentially massive opportunity in another market vertical. With that market vertical presenting itself right now, it will now start creating the necessary contracts and apps for both the Smart TV market and the iOS and Android platforms. The apps will be created for servicing both the Video on Demand markets and the “Linear Television” markets, your traditional “scheduled programming” television. Maybacks Global already has a relationship with several Smart TV manufacturers that have added the Maybacks Global Entertainment App to over 50,000 Smart TVs to date, which will allow the advantage of familiarity with the manufacturers when it comes time to load the VOD service along with Maybacks network programming.
Authentic expects to aggressively market its Goliath catalogue wherever opportunities present and said it will start marketing both its planned VOD and linear platforms in late September to both domestic and overseas audiences, with a very small monthly access fee for unlimited access.
The acquisition of Goliath was done without any upfront dilution to shareholders. The company issued 100,000 shares of a Series D $50 Preferred, which is non-convertible for a period of three years, in addition to putting a $5.3 million asset on its balance sheet. The potential income to be derived from the catalogue is enormous for Authentic and its shareholders.