Cre8tive Works sign LOI to develop documentary on up-and-coming Canadian music group & secure royalties on first four singles
February 18, 2014 --
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.
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