- 5G technology is faster than 4G with speeds of 20Gbps and 1ms latency
- The 5G infrastructure would assist Hollywall in the advancement of broadband, especially to rural and minority communities
- The FCC has provided a new internet subsidy program to credit internet bills to keep families connected through a $3.2 billion federal initiative bill
- The global 5G infrastructure market was valued at $9.77 billion in 2019 and is expected to grow at a CAGR of 29% through 2026
WASHINGTON, March 22, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – The 5G network has been steadily working its way into existence for a couple of years now, with virtually all major telecommunications providers embracing the new technology. AT&T launched a small, low-band network in November 2019, followed by T-Mobile’s 5G Nationwide 600 MHz network. They followed up in August 2020 by offering the first Standalone 5G network. By the end of 2020, the first 5G smartphones impacted the market, and all major carriers offered the 5G capability (https://nnw.fm/IT4ZE).
Even though 5G exists, it does not mean there is much difference at this time between the 4G and 5G network. Much like incorporating the 4G network, which took time, the big advancements from 5G will be no different, but once implemented the technology will provide significant benefits in terms of speed and ease of access.
Positioned to leverage 5G in a big way, with speeds of up to 20Gbps and 1ms latency, is the streaming industry, and by extension, industry entities such as Hollywall Entertainment Inc. (OTC: HWAL). As a telecommunications, media, technology, broadcasting and entertainment company, Hollywall serves many of the finest creators, writers, developers, and music artisans (of our time) by providing a business and distribution solution platform to maximize global audience reach.
Hollywall owns marketing rights to legacy music and television programming, which allows the company to serve timeless entertainment to a multi-generational audience within the global community. It offers an ever-growing brand of the finest music, film, video, and some of the most memorable live performances. The company is also deeply invested in telecom infrastructure.
According to a recently released Market Study Report, the global 5G infrastructure market was valued at $9.77 billion in 2019 and is expected to grow at an impressive CAGR of 29% by 2026 (https://nnw.fm/I5J6o). Hollywall is thus well positioned to capitalize on the expanding 5G infrastructure market to enhance its broadband availability. The implementation of 5G infrastructure will allow the company to facilitate its key telecom initiatives better. Some of these initiatives include:
- Designing, engineering, constructing, operating, and providing Rural and Urban Wireless and Broadband Telecommunications Network Infrastructure,
- Fostering, developing, and implementing entrepreneurial and economic development opportunities for minority business enterprises (MBEs),
- Working in partnership with Historically Black Colleges and Universities (HBCUs) and Tribal Colleges and Universities (TCUs) to solve the challenges of deploying broadband in vulnerable communities, and
- The installation of Rural Broadband Connectivity throughout agriculturally-rich communities ensures farmers can maintain and increase sustainable practices using digital tools, among other initiatives of the Company.
The company’s initiatives will be further advanced by a recent decision by the Federal Communications Commission (FCC) to approve guidelines for new internet subsidy programs providing low-income families with funding for internet during the pandemic. The FCC’s Emergency Broadband Benefit Program is for low-income families who qualify, providing them with $50 in monthly credit toward internet bills through their internet provider. For those families living on tribal land, assistance for $75 monthly will be available for eligible families, and a one-time $100 discount on a tablet or computer will be included.
“This is a program that will help those at risk of digital disconnection,” said FCC acting Chairwoman Jessica Rosenworcel after Congress approved the $3.2 billion for the federal initiative bill. Eligible families include those currently on Medicaid, received a Pell grant, use the Supplemental Nutrition Assistance Program (SNAP), or have lost employment due to the pandemic (https://nnw.fm/Fg4L2).
A separate bill in West Virginia, one of the areas served by Hollywall, aims to increase broadband companies’ accountability for any service interruptions. With the passing of House Bill 2002, West Virginia’s broadband will change significantly if signed into law. The adopted bill was passed with 98 in favor, one opposed, and one absent. The bill’s lead sponsor is House Technology and Infrastructure Committee Chairman Daniel Linville, R-Cabell, who said it was “the single most important thing we can do this year, given the COVID-19 pandemic.” (https://nnw.fm/CydDw).
If signed into law, this bill will make broadband companies more accountable for outages, repairs and ensuring customers are connected. With a “dig once” policy, broadband companies can use existing reporting from the utility companies as their basis for digging and implanting the lines. The whole process can be expedited as a result. Linville says that he “looks at broadband delivery just as any other delivery service that operates upon infrastructure which the government may build.”
These measures fully align with Hollywall’s commitment to developing and implementing solutions aimed at closing the broadband digital divide forced upon the most vulnerable in underserved urban and rural communities across the country. The company continues to expand its business enterprise to numerous city and state municipalities and government agencies throughout the country, including Washington DC, New York, Virginia, Massachusetts, Pennsylvania, Texas and California, as well as within the Blackbelt regions of Alabama, Louisiana, Mississippi, Georgia and North Carolina.
About Hollywall Entertainment, Inc.
Hollywall Entertainment, Inc. (OTC:HWAL) is a telecommunications, technology, media, entertainment and broadcasting company that operates through its various subsidiaries including: Hollywall Development Company (HWDC), HW Vision and HW Latlong, and multiple divisions to include HW School of Communications, Hollywall Music, Hollywall TV, HW Productions, HW Networks, HWRadio, HWGOV and The Hollywall Foundation. HWAL continues to maximize rights to its music, film, television, home videos and software game libraries. Hollywall owns exclusive and nonexclusive rights to market, manufacture and distribute music master recordings performed by legends such as Ray Charles, Ella Fitzgerald, The Jackson 5, Frank Sinatra, Dolly Parton, Elvis Presley, Tony Bennett, The Bee Gees, Chicago, The Platters, George Gershwin, Marvin Gaye, James Brown, The Who, Janis Joplin, Rolling Stones, Nat King Cole, John Lee Hooker, Willie Nelson, Rod Stewart, Hall and Oates, James Taylor, Etta James, Aretha Franklin, and other multiple-platinum-selling acts. Learn more at www.hollywall.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, as such, may involve risks and uncertainties. These forward-looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from those expressed or implied in such forward-looking statements as a result of a wide range of factors.
Hollywall Entertainment, Inc.
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