FAB Universal Sees Explosive Podcast Audience Growth For Libsyn
Unique Monthly Audiences Increase from 20 Million to 28 million
PITTSBURGH, Pa.--(BUSINESS WIRE)-- FAB Universal (NYSE MKT:FU), a worldwide distributor of digital entertainment, today announced unique monthly audiences has experienced accelerated growth from 20 million people in the first quarter of 2012 to 28 million people in the first quarter of this year. The 40% increase is a result of the addition of 8 million podcast audience members enjoying podcasts from 240 countries around the world on the Libsyn Network each and every month.
The recent hockey stick type growth chart for audience engagement with podcasts comes at a time when more shows are now being distributed to mobile devices than to traditional PC's. Media distribution to mobile devices such as iPhones and iPads demonstrate a fundamental shift away from the traditional method of downloads via iTunes to the PC. This fundamental catalyst represents a significant opportunity for monetization of podcasts through advertising due to the fact that these mobile downloads can now be tracked in the same manner as streaming video content from a website like YouTube. This type of tracking was not possible before this shift in audience consumption habits.
FAB Universal, the parent company of Libsyn, is looking for Libsyn to generate $1 million of profit this year, a first for the podcast division. FAB Universal Corp. expects to generate Revenue between $98.9 million and $102.6 million for the full year 2013 and expects after tax Net Income between $19.3 million and $20.1 million for the full year 2013.
"It is an exciting time for podcasting and we are well-positioned for substantial revenue growth with the Libsyn platform, our mobile strategy and monetization opportunities for our producers," said Laurie Sims, President of Libsyn. "Our strategy has always been to provide producers with the tools to distribute and monetize podcast media and today we remain the premier podcast platform in the world. We expect to see even more opportunities for hosting and monetization revenue in 2013."
About FAB Universal Corp:
FAB Universal Corp. is a global leader in digital media entertainment sales and distribution. FAB delivers media to its customers worldwide through Intelligent Kiosks, Retail Stores, Retail Franchises and online through Apple iTunes and Google Android through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. We distribute billions of movie, music, podcast, TV show and other digital files to consumers in 240 countries. Sales of digital media are generated through kiosks networks, subscription sales for mobile devices, smartphone Apps and Netflix-like subscription models. In 2011, we distributed billions of downloads of copyrighted music, video games, ringtones, ebooks, movies and podcasts to over 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Androids and many other devices and destinations. We are a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.fabuniversal.com, email us at firstname.lastname@example.org.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States.
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