FAB Universal Sees Continued Growth in Intelligent Media Kiosk Business
PITTSBURGH--(BUSINESS WIRE)-- FAB Universal (NYSE MKT: FU), a worldwide distributor of digital entertainment, announced today that FAB increased its Intelligent Media Kiosk business by 1,237 kiosks in May vs. 565 kiosks in April, 2013, a 119% month to month increase.
The FAB Intelligent Media Kiosk network has grown to over 40 tier-1 cities in China such as Beijing, Shenzhen, Chengdu and Guangzhou, and now has an installed base approaching 16,000 terminals.
As previously reported, in the same period, FAB Universal sold 75,000 new membership cards in May as a result of a series of promotional events held in Beijing based around the FAB lead initiative, "Download with Payment, Consumption with Dignity". Over $1.87 million in revenue was generated by FAB's China business through these events while promoting copyright protection and anti-illegal downloading activities. Revenues for the overall Kiosk business during the last two reported quarters was $10.6 million.
Encompassing 110 national intellectual property rights (similar to patents), FAB generates revenues from its Intelligent Media Kiosk Business through ongoing media content downloads, media membership cards and kiosk-based advertising. Consumers can purchase and download copyrighted music, video games and movies directly to their cell phones or other mobile devices. FAB Media Kiosks can also run video ads on the high-tech LCD screens and accept payments for utility bills, metro cards, credit card bills, and other services. Click here to see pictures of the FAB Media Kiosks.
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 Licensees 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 2012, 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 email@example.com.
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 or changes in our business strategies.
Investor Relations Contact:
Arthur Douglas & Associates
Art Batson, 407-478-1120
KEYWORDS: United States Asia Pacific North America China Pennsylvania
The article FAB Universal Sees Continued Growth in Intelligent Media Kiosk Business originally appeared on Fool.com.
Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.