MIAMI BEACH, FL, Feb. 18, 2014 /PRNewswire/ - Cre8tive Works,
Inc. ("Cre8tive") (OTCPINK:FILM) today announces that it has
signed a Letter of Intent (LOI) to develop a documentary film
around an up-and-coming Canadian music group and secure up to 50%
of the royalties generated by their first four singles. The
documentary will follow the band as they complete their first
studio album and get ready for their North American launch.
The band's format is high energy big band comparable to that of
Bruno Mars who recently played the
half time show at the Super Bowl. The band currently has a
large cult following in Western
Canada and is hoping to gain national and international
recognition with the release of the four singles and studio album
along with the supporting documentary film.
The project will be structured to maximize the available BC
Productions Services Tax Credit, subsidizing the cost of filming
the documentary as well as take advantage of the Canadian
Government regulations that guarantee radio play for works that are
considered original Canadian content.
Definition of Canadian Content
The Canadian Radio-television and Telecommunications Commission
(CRTC) defines a musical selection as being Canadian by using four
elements: Music, Artist, Performance and Lyrics (MAPL). To qualify
as Canadian content, a musical selection must fulfill at least two
of the following conditions:
- Music: the music is composed entirely by a
Canadian
- Artist: the music is, or the lyrics are,
performed principally by a Canadian
- Performance: the musical selection consists of a
live performance that is
- recorded wholly in Canada,
or
- performed wholly in Canada and
broadcast live in Canada
- Lyrics: the lyrics are written entirely by a
Canadian
The MAPL system is designed to increase exposure of Canadian
musical performers, lyricists and composers to Canadian audiences.
It strives to strengthen the Canadian music industry while
being simple for the industry to implement and regulate.
Under the MAPL guidelines the current project subject to the LOI
meets all four conditions.
CRTC Canadian Content Radio Play
Radio plays an important role in introducing listeners to new music
and artists. CRTC policies and regulations ensure that MAPL
qualified works are played on Canadian radio stations.
English-language and French-language stations must ensure that at
least 35% of the Popular Music they broadcast each week is
MAPL Canadian content. Commercial radio stations also have to
ensure that at least 35% of the Popular Music broadcast
between 6:00 a.m. and 6:00 p.m. Monday to
Friday is Canadian. The CBC (Canadian Broadcasting
Company) Radio Canada stations must ensure that at least 50%
of their Popular Music selections broadcast each week are MAPL
Canadian content. Because of these rules there is a high
demand in Canada for original
Canadian works. It is almost guaranteed that any work that
meets the MAPL guidelines will get radio play in Canada and the resulting exposure and revenue
royalties.
Radio Play Royalties
Each time one of the four singles is played on the radio it
generates a revenue royalty. The royalties generated by radio
play in Canada will be managed by
SOCAN. SOCAN (Society of Composers, Authors and Music
Publishers of Canada) is a
not-for-profit organization that represents the Canadian performing
rights of millions of Canadian and international music creators and
publishers. SOCAN will account for and then distribute the
revenue royalties generated by radio play in Canada and will work in collaboration with
other performing rights organizations to manage any royalties
generated by international radio play.
Under the terms of the Letter of Intent the name of the band
cannot be released until the formal agreement has been consummated
and the first tranche of funding has been advanced.
About Cre8tive Works, Inc.
Cre8tive Works Inc. is a
Nevada corporation located at 1000
Fifth Street, Suite 200-B3, Miami Beach,
Florida 33139 USA. It is the Company's objective to
become a leader in the entertainment industry recognized for its
progressiveness and innovation in financing and servicing of
quality independent entertainment projects. Cre8tive Works,
Inc. is a publicly traded company having its common shares quoted
on the OTC Markets under the symbol FILM.
Forward Looking Statements
Except for the
historical information contained herein, the matters discussed in
this press release are forward-looking statements. Actual results
may differ materially from those described in forward-looking
statements and are subject to risks and uncertainties. See Cre8tive
Works, Inc.'s filings with OTC Markets which may identify specific
factors that may cause actual results or events to differ
materially from those described in the forward-looking
statements.
SOURCE Cre8tive Works, Inc.