StreamTrack Reports Record Net Revenues and Milestones
January 08 2014 - 9:05AM
Marketwired
StreamTrack Reports Record Net Revenues and Milestones
SANTA BARBARA, CA--(Marketwired - Jan 8, 2014) - StreamTrack,
Inc. (OTCQB: STTK) ("StreamTrack" or the "Company"), a digital
media and technology services company operating within the internet
radio and streaming media sectors, today announced the Company
recorded record net revenues for the months of November and
December 2013. StreamTrack has also gained positive EBITDA in
November for the first time. Positive EBITDA was also achieved in
December.
The following is a summary of our 2013 achievements:
- 5,329 active radio stations as of 12/31/13, compared to 1,259
active stations as of 12/31/12, a year over year increase of over
400%.
- 9.3 cents revenue per listening hour in calendar year 2013
compared to 7.7 in 2012, a year over year increase of over
20%.
- 9,995,382 U.S.-based hours streamed in calendar year 2013
compared to 8,731,071 in calendar year 2012, a year over year
increase of 15%.
- 134,500 registered members as of 12/31/13 compared to 100,500
registered members as of 12/31/12, a year over year increase of
over 33%.
- 365 million songs as of 12/31/13 played since Radioloyalty
commercial launch in May 2011.
- 6.3 million song "likes" shared through social media as of
12/31/13.
- Enhancement of user experience with station-specific mobile
apps, as a result of the acquisition of the RobotFruit mobile
application platform.
- Execution of key industry and geographically-focused
partnerships with Targetspot, PPTV, Monaco Media, Scratch.fm, among
others.
- Successful completion of non-dilutive $500,000 financing.
- Reduction of $770,000 in liabilities related to Lenco
acquisition.
- Sale of non-core education lead generation brands in November
2013.
- Completion of core development work associated with the launch
of an artist-based broadcasting platform.
Michael Hill, Chief Executive Officer of StreamTrack, stated,
"Reaching positive EBITDA in November and December of 2013 is a
huge milestone. Over the last year we have successfully aggregated
new radio stations and increased our revenue per listener hour at
aggressive rates. We believe our monetization rates are at or near
the top of the internet radio industry. We plan to continue to
execute on our business model by adding new active radio stations
and increase revenue per listening hour. With the recent
acquisition of the RobotFruit mobile platform, we anticipate
providing a similar mobile ad-supported model to broadcasters and
stations owners. Rather than providing a mobile app guide with an
aggregate of all of our stations, we plan to provide each of our
stations a free mobile application for their station. If all of our
initiatives are well-executed and the internet radio sector
continues to expand, we see 2014 being a year of extreme growth for
us."
About StreamTrack, Inc. StreamTrack, Inc. (the "Company") is a
digital media and technology services company. The Company provides
audio and video streaming and advertising services through its
RadioLoyalty™ Platform (the "Platform") to over 5,000 internet and
terrestrial radio stations and other broadcast content providers.
The Platform consists of a web-based and mobile player that manages
streaming audio and video content, social media engagement, display
and video ad serving within the web player and is also capable of
replacing audio ads with video ads within the web player in a live
or on-demand environment. The Company offers the Platform directly
to its broadcasters and integrates or white labels its technologies
with web-based internet radio guides and other web-based content
providers. The Company is also continuing development of
WatchThis™, a patent-pending technology to provide web, mobile and
IP television streaming services that are e-commerce enabled within
streamed content.
For more information visit: http://www.streamtrack.com or
http://www.radioloyalty.com
Forward-Looking Statements Certain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about StreamTrack's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict
and historical accomplishments are not necessarily indicative of
future results. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. Readers should review
carefully reports or documents the Company files periodically with
the Securities and Exchange Commission.