Mega Matrix Corp. Announced that FlexTV Formed the Strategic Cooperation with TopReels, the leading short drama platform in South Korea

PALO ALTO, Calif., May 24, 2024 /PRNewswire/ -- Mega Matrix Corp. ("MPU" or the "Company") (NYSE American: MPU), today announced that Yuder PTE, LTD, the Company's indirect majority-controlled subsidiary and operator of FlexTV, has formed a strategic cooperation with Foxmedia Co., Ltd., 100% controlled subsidiary of Neorigin Co.(KOSDAQ: 094860) and the operator of TopReels, the leading short drama platform in South Korea.

The Company and Neorigin Co. will jointly establish a $10 million content fund aimed at promoting joint investments, production, and distribution of original short drama projects. MPU COO Steven Gao, FlexTV CEO Zhenjun Cao, NEORIGIN CFO Jimmy Liu, and TopReels head Ryan Jeong attended the signing ceremony. This collaboration signifies that FlexTV and TopReels will engage in an in-depth partnership in the Korean market to create and deliver high-quality original short drama content, thereby enhancing the quality of the short drama platform.

FlexTV, as a short drama platform, has attracted the users from over 100 countries worldwide due to its deep insights into user needs and continuous innovation in content production. Its hit drama "Mr. Williams! Madame Is Dying" has drawn a large number of paying viewers from the U.S. and Europe markets. Future short drama productions will continue to feature exciting plot designs and outstanding visual effects. Currently, FlexTV's target is to become the global leader in short drama platforms. The strategic cooperation with TopReels will help FlexTV expand its content variety, create premium productions, replicate those with million-dollar potential, and enhance its global influence.

Mr. Yucheng Hu, CEO of Mega Matrix Corp. said, "In this era, changes in users' vertical screen consumption habits bring about new product opportunities, and the global short drama market holds high growth and high expectation potential. The European and American markets offer a broader range of topics and a strong user base accustomed to paying for content. For short dramas to go global, a robust content supply chain must be established to continuously provide users with high-quality content. TopReels has a stable content supply capability, and this strategic partnership is a critical step for FlexTV in building an overseas content ecosystem. It will help further increase content reserves, broaden content categories, and enhance global influence."

TopReels head Ryan Jeong remarked: "Currently, Chinese short dramas, as a new type of film and television content, are sparking a wave of 'CEO romance dramas' worldwide, driven by the shared emotional expressions in Eastern and Western cultures. The strong alliance between TopReels and FlexTV is timely. This collaboration will fully leverage TopReels' high-quality production resources and capabilities in Korea, adding more original categories and producing more premium global content."

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.

About NEORIGIN：Neorigin Co. (KOSDAQ: 094860) is a diversified global enterprise, with its main business areas encompassing IP operations, game distribution, short dramas, and cross-border e-commerce. With strong global distribution capabilities covering over 150 countries, NEORIGIN identifies and acquires IPs with market value for operation. The company has global distribution experience for games such as Fantasy Babies, Desperate Housewives, and My Own Angel. By acquiring the original IPs of Luna and Fantasy Babies, NEORIGIN has expanded its game portfolio. Additionally, the short drama and e-commerce platform businesses will significantly enhance the company's value. https://www.neorigin.com/

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