Mega Matrix Announced the Publishing of the Article from MIT Technology Review highlighting FlexTV

PALO ALTO, Calif., March 07, 2024 (GLOBE NEWSWIRE) — Reaching a remarkable $2 million USD in top-up fees within a week, the short drama ‘Mr. Williams! Madame Is Dying’ has captivated audiences. The production company behind this compelling piece, FlexTV, is now garnering public attention. Recently, an article from the MIT Technology Review was published, spotlighting the rise of short dramas, particularly highlighting FlexTV, which is operated by Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix Corp., a company listed in NYSE American with the ticker symbol MPU.

The article admirably introduced and thoroughly analyzed the emerging market of short dramas, providing valuable insights into this innovative industry’s potential. You can find the article here: https://www.technologyreview.com/2024/02/27/1088980/chinese-short-drama-tiktok-flextv/

Short dramas are new in the United States, and they offer a new form of streaming video entertainment tailored for mobile phone users. Short dramas aim to capture the essence of narratives within concise time frames, typically formatted vertically for optimal viewing on mobile phones, ranging from 1 to 3 minutes per episode. Each episode seamlessly integrates into a series, where complete story-lines unfold across 40 to over 100 episodes. FlexTV’s business model combines top-up fees and subscription fees. Initially, they offer the first 10 episodes for free viewing. If viewers become engaged, they can choose to pay for access to the subsequent episodes or opt for monthly subscription fees.

Yucheng Hu, the CEO of Mega Matrix Corp., shared his thoughts, stating, “The article in MIT Technology Review provides invaluable insights into the burgeoning market of short dramas, shedding light on its rapid growth and promising future. The only aspect I’d like to add is that while the article used the term ‘short soap opera,’ short dramas actually transcend traditional soap opera formats, embracing a multitude of genres commonly found in feature-length films. Short Drama may indeed a future trend.”

About Mega Matrix: Mega Matrix Corp. (NYSE AMEX: MPU) is a holding company and operates FlexTV, a short-video streaming platform and producer of short dramas, through Yuder Pte, Ltd., an indirect majority-controlled subsidiary of Mega Matrix. Mega Matrix is a Delaware corporation headquartered in Palo Alto, CA. For more information, please contact [email protected] or visit: http://www.megamatrix.io.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. All statements in this press release other than statements that are purely historical are forward looking statements. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose,” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees for future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate future acquisitions; ability to grow and expand our FlexTV business; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting the Company’s profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; the occurrence of any event, change or other circumstances that could affect the Company’s ability to continue successful development of its digital assets staking business model; the possibility that the Company may not succeed in developing its new lines of businesses due to, among other things, changes in the business environment, competition, changes in regulation, or other economic and policy factors; and the possibility that the Company’s new lines of business may be adversely affected by other economic, business, and/or competitive factors. The forward-looking statements in this press release and the Company’s future results of operations are subject to additional risks and uncertainties set forth under the heading “Risk Factors” in documents filed by the Company with the Securities and Exchange Commission, including the Company’s latest annual report on Form 10-K, and are based on information available to the Company on the date hereof. In addition, such risks and uncertainties include the Company’s inability to predict or control bankruptcy proceedings and the uncertainties surrounding the ability to generate cash proceeds through the sale or other monetization of the Company’s assets. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

Contact: [email protected]


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