Public Media Works, Inc. and its wholly-owned subsidiary EntertainmentXpress, Inc., announced an agreement with Modular Conversions, LLC to place up to 7,000 DVD movie and game kiosks in new convenience stores as major oil company-sponsored gas station conversions are completed over the next three years across the U.S.
According to the statement, the initial phase includes full funding for the installation of up to 1,500 EntertainmentXpress kiosks to be placed in prime West Coast targeted locations. Modular Conversions, a construction management services firm working with major oil companies, is a specialist in a modular approach to bay conversions for high-traffic filling stations.
Modular Conversions created the turnkey concept for the “C-store” conversions with exterior construction and a modular interior store design that includes all components, fixtures and accoutrements including the EntertainmentXpress DVD kiosk as a part of the proposed turnkey package.
These programs provide a pre-approval for financing for filling station operators who sign on. Financing for the conversions, over and above what may be subsidized by the oil companies, has been arranged by Modular Conversions through private lenders and a mutual fund, according to the construction company’s COO, Jack Neal.
“We have launched a multi-billion dollar project to convert bays to convenience stores for owners of major oil company brand filling stations across the US who subscribe to the program. It is a very exciting project that will bring huge brand value for oil companies and a significant increased revenue opportunity for the independent station operators. And as part of our overall funding arrangements for this venture, we are planning to allocate up to $154 million to fully finance as many as 7,000 kiosks placed and operated by EntertainmentXpress,” according to Jack Neal.
“Choosing the right business partners in this venture is critical,” continued Jack Neal. “And after taking a hard look at the others out there, we selected EntertainmentXpress to be our exclusive DVD movie and games kiosk provider. There’s no doubt that EntertainmentXpress stands out among the others with the most contemporary approach, including movies and video game rentals, digital download capabilities, plus a built-in 3D flat screen for in-store advertising that allows our station owners to share in both the DVD and advertising revenues. This kiosk should represent the most profitable square footage in their stores,” stated Jack Neal.
“There is no question that executing on this opportunity puts us on the map as a significant new player in the highly profitable and fast-growing entertainment kiosk industry. And it is most gratifying that we were able to be creative enough to beat the odds of a tough economy with a partnership that includes financing as part of the package. To me it’s a great story of how businesses can work together to create alternatives to work around the scarcity of traditional financing,” states Bill Zabit, President of Public Media Works.