The first agreements, stipulated as part of the MoU signed with the Serbian government, will bring in revenues for the Group of approximately €5.9 million

Iervolino Entertainment SpA (“IE”), a company listed on the AIM Italia stock exchange engaged in the production and co-production of cinematographic and television content for the international market, following the Memorandum of Understanding signed with the government of the Serbian Republic and Archangel Digital Studios (communicated on 5 June), announces the stipulation of the first contracts for the licensing of the Puffins web series.

Specifically, the agreement gives Archangel Digital Studios the right to use the animated characters of the Puffins series (the “Intellectual Properties”) and the production process (the “Pipeline”) of the IE animated web series. For its part, the Iervolino Entertainment Group will invest in the project and, through its Serbian subsidiary Iervolino Studios, will provide executive production of the new episodes of the series called Puffins: impossible.

The contracts signed relate to the first 18 episodes and will bring in revenues for the Iervolino Entertainment Group of approximately €5.9 million, which will be realised partly in the current year and partly in the first months of the next. The new episodes are already in production.