PALO ALTO, Calif. , Nov. 7, 2024 /PRNewswire/ -- Mega Matrix Inc. ("MPU" or the "Company") (NYSE American: MPU) today announced that its globally leading short drama streaming platform, FlexTV, recently signed a two-year cooperation agreement with PT Multimedia Nusantara ("TelkomMetra"). This agreement was brokered by AR Asia Productions, whose expertise was instrumental in bringing the two companies together.

This collaboration, commencing in early December this year, aims to leverage Telkom Metra and Telkomsel's platforms to facilitate MPU's steady establishment and long-term development in the Indonesian market through market expansion, brand exposure, financial support, revenue sharing, content distribution, and localization support.

TelkomMetra is a wholly-owned subsidiary of Telkom Indonesia, one of the largest telecommunications companies in Indonesia, with a robust network and resources in the local market. It focuses on digital entertainment and communication services in Indonesia and its surrounding regions. Telkomsel, another subsidiary of Telkom Indonesia is the largest mobile telecommunications operator in Indonesia, providing mobile communication services—including voice, data, and digital content—to over 170 million users.

Within six months of signing the agreement, FlexTV will become TelkomMetra's sole micro-drama partner. In the first year after FlexTV is integrated into TelkomMetra's Telkomsel platform, both parties will invest in the Indonesian market, with a focus on in-app promotion to ensure high exposure and user attraction for the platform's content. TelkomMetra will also be responsible for distributing FlexTV's content across multiple platforms in Indonesia and has expressed willingness to provide investment support for the localization of FlexTV's content to enhance its impact. Notably, TelkomMetra plans to explore the possibility of establishing a joint venture with FlexTV one year into the partnership, viewing micro-dramas as a long-term strategic investment.

The establishment of this strategic partnership aims not only to introduce FlexTV's high-quality micro-drama content to the Indonesian market and create a leading entertainment experience in overseas markets but also to promote MPU's future collaboration and development globally.

About Mega Matrix: Mega Matrix Inc. (NYSEAMEX: 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 Cayman Island corporation headquartered in Palo Alto, CA. For more information, please contact info@megamatrix.io 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 execute the strategic cooperation with TopReels, 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 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.

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SOURCE Mega Matrix Inc.