Pacific Entertainment Corporation Changes Name and Ticker
SAN DIEGO, Dec. 6, 2011 (GLOBE NEWSWIRE) -- In a move to support its brand extension-driven growth strategy, Genius Brands International, Inc. (OTCQB:GNUS.OB - News), the developer and marketer of the award winning Baby Genius(R) line of music and education-based products and characters, today announced it has changed its name from Pacific Entertainment Corporation to Genius Brands International, Inc. In conjunction with the name change, the Company's ticker was changed to "GNUS" from "PENT".
Millions of the award-winning Baby Genius(R) educational music-based products have sold since the brand's launch in 1999. It's a brand that 70% of moms in the U.S. recognize. Baby Genius(R) toys recently generated over $40 million in retail sales over nineteen months and Baby Genius(R) has been the #1 children's video-on-demand on Comcast and Cox cable networks for the past several years.
"Baby Genius(R) has been our core brand and the foundation of our company. While continuing the development of Baby Genius(R), we are now ready to take our company to the next level of growth by introducing the Genius family of products that all align with our core mission of providing products that educate and entertain the entire family," stated Genius Brands Chairman and CEO, Klaus Moeller. "Having achieved expansions in licensing partnerships and our distribution channels, we are now ideally positioned to leverage these assets. We intend to capture new revenue streams by offering new Genius branded product lines that address demographic markets previously untapped by Genius Brands. We believe the implementation of our brand extension strategy will materially enhance our opportunities to ramp revenue, EBITDA and net income."
Genius Brands exclusively owns 99% of its original content and has licensing agreements with Jakks Pacific for toys, LeftRight Studio for mobile apps, and Meadowbrook Press for books. The Company's distribution network includes retailers like Target, Walmart, T.J. Maxx, and Amazon. Baby Genius(R) DVDs and CDs are sold in over 8,000 retail stores nationwide. The Company's brand awareness is further promoted through major kids' meal promotions with national food chains including a 2 year promotion with Taco Bell(R).
The growing Genius portfolio of brands also includes Little Genius(R), Kid Genius(R) and Parent Genius(R). Expanding from its base in music-based content and toys for young children and their parents, Genius Brands is set to develop and launch new product lines that appeal to additional demographics and areas of interest.
About Genius Brands
Genius Brands International, Inc. is the developer and marketer of the award winning Baby Genius(R) line of music and education-based products and characters. The Company is developing and marketing a growing line of Genius branded products that entertain and educate the whole family. Baby Genius(R) awards include: Mom's Choice Award, The National Parenting Center Seal of Approval, The Toy Insider Best Toddler Toys, Dr. Toy 100 Best Children's Products, NAPPA Honors Award, iParenting Excellent Product Award, Creative Child Preferred Choice Award, Latino DVD Awards, iParenting Media Award, Film Advisory Board Award of Excellence, Kids First! Quality Children's Media Endorsement, Parents Magazine 2002 "Video of the Year," and Best "Under 3" QSR Program 2004/2005 from Restaurant Magazine. Baby Genius(R) products are available at most major retailers and have international exposure in over 40 countries. For brand information please visit www.babygenius.com. For Company information please visit www.pacificentcorp.com.
This release contains forward-looking statements made by or on behalf of Genius Brands International Inc. All statements that address operating performance that the Company expects will occur in the future, including statements relating to operating results for fiscal 2011 and beyond, revenue growth, future profitability or statements expressing general optimism about future operating results, are forward-looking statements. These forward-looking statements are based on management's current views and we cannot assure that anticipated results will be achieved. These statements are subject to numerous risks and uncertainties, including, among other things, uncertainties relating to the Company's success in judging consumer preferences, financing the Company's operations, entering into strategic partnerships, engaging management, seasonal and period-to-period fluctuations in sales, failure to increase market share or sales, inability to service outstanding debt obligations, dependence on a limited number of customers, increased production costs or delays in production of new products, intense competition within the industry, inability to protect intellectual property in the international market for our products, changes in market condition and other risks and uncertainties indicated from time to time in our filings with the U.S. Securities and Exchange Commission (SEC) available via the SEC's website at www.sec.gov. Readers are cautioned not to place undue reliance on forward-looking statements and are encouraged to consider the risk factors that could affect actual results. The Company disclaims any intent to update forward-looking statements.
Released December 6, 2011