The Movie Studio Inc (OTC: MVES) closed the last session at $0.0470 after seeing its market cap rise by 113.64% to $7.47M. During the last session, 47.46 million shares of The Movie Studio stock were traded, a higher volume than its average volume of 1.38 million. Furthermore, the MVES stock has been trading in the range of $0.0288 to $0.1653. There was a surge in MVES stock because The Movie Studio announced licensing of its stake in a forthcoming movie.
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What was the announcement actually for?
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The Movie Studio is a digital disruptor focused on the independent motion picture content sector and operates a video streaming platform. MVES produces and distributes motion pictures and has just launched a blockchain-enabled over-the-top platform for the distribution of foreign content.
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The app design is being finalized and will offer advertisers the ability to supply content via AVOD and the ability for SVOD subscription customers to provide MVES with original content. By introducing its digital business model to the motion picture distribution industry, MVES will disrupt traditional media content distribution processes and lead the way in geo-distribution of its content.
It was announced on Thursday that the Movie Studio will license its 60%-owned membership in “Night of the Demons” to a third party. This license covers the territory of Spain, which has a combined population of 47 million people.
The license is expected to generate substantial box office results for a movie with actors like Monika Keena, Edward Furlong, and Shannon Elizabeth. The licensing agreement is expected to last until 2027.
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Moreover, MVES resubmitted its trademark application to USPTO for the use of the name The Movie Studio. MVES proposed a registration amendment to use a camera aperture image instead of the letter O.