CAMPBELL, CA--(NewMediaWire - Nov 10, 2016) - Friendable, Inc.
(the "Company") (OTC PINK: FDBL), a mobile & social focused technology
company, today announced details of the Company's plans to
diversify its assets in order to create several paths for revenue
and profitability.
Friendable's recent investment in Hang With, Inc. ("Hang W/"),
along with its acquisition of a royalty free, perpetual license to
Hang W/'s proprietary live streaming video technology, and access
to the total of 8 million users who have used Hang W/'s app over
the past several years, has broadened the Company's opportunity
set, which the Company believes, gives investors several ways to
win.
Friendable's preferred equity stake in Hang With, Inc. ($30
million valuation), is a passive investment that may yield
Friendable a profitable exit. In an effort to leverage the live
streaming video and create value for shareholders, Friendable is
rapidly building and preparing for launch an entirely new
application that Management has code-named "Broadcaster."
Celebrities that Friendable has had previous or existing
relationships with have, in total, upwards of 20-50 million social
media followers.
Friendable's Broadcaster app is expected to offer an experience
that stands alone in a noisy social media environment by allowing
celebrities to broadcast live, uncut, and uncensored content that
cannot be viewed anywhere else, to the subscribers of their
Broadcaster channel. Artists and agencies will soon have the
opportunity to own a "Broadcaster Channel" where they can share, in
real time, events that would typically exist to only individuals
with VIP on-location access.
Examples of content that may be featured include:
- Backstage before, during or after events
Recording studio sessions
Behind the scenes on music video sets
On-set makeup or wardrobe trailers
Special interviews
Ultimate Fan Experience - All Access
Friendable intends to offer several levels of revenue sharing of
subscriptions with celebrity artists and agencies. Each artist will
be required to market their Broadcaster channel to their social
followers and fans, ultimately generating subscription revenue
based on the success of conversion. This one of a kind ecosystem is
being designed to help celebrities monetize their fans and
followers as "Broadcaster" seeks to become the industry standard
platform for proprietary content that is live, uncut and
uncensored.
Friendable's conviction in the value of this platform is the
product of many months of dedicated research, analysis and feedback
from the Company's celebrity music artist relationships, record
labels, and brand partners at The Kluger Agency. Each content
channel will be exclusive to each artist and aim to offer several
levels of revenue sharing opportunities between Friendable and the
celebrity, artist or agency, based on one of the subscription
models, one time pay-per view, virtual gifting and brand
sponsorship of each channel. The Company believes these revenue
sharing opportunities will result in an enticing and recurring
revenue model unlike anything in social media today.
Robert A. Rositano Jr., Friendable, Inc. CEO, stated,
"Friendable is working on a revenue model that incentivizes
celebrities to promote the 'Live' aspect of our new 'Broadcaster'
platform to their social media followers and in turn, receive up
front incentives along with recurring revenue on a monthly basis.
We are working hard to secure commitments from celebrity artists as
we move closer to launch in early 2017, and we will announce them
as they are signed. Further, we look forward to a strong
conversion rate given the loyalty of each celebrity or artist's
existing social media fan base.
"We are more excited than ever for the future of the Company.
This is truly a new category of entertainment, consisting of
one-way, interactive broadcasting of exclusive VIP events, unique
experiences or those one in a million moments that don't always get
captured on video. This content will soon be able to be
channeled to an audience who truly waits for an opportunity to peek
behind the curtain. We look forward to announcing the success of
our latest 'Broadcaster' initiative in the near term, as management
is committed to creating and building shareholder value through our
continued efforts to expand and diversify the Friendable brand,"
concluded Robert A. Rositano Jr., Friendable, Inc. CEO.
Additionally, the Company continues to add to the existing
Friendable app through organic downloads, brand recognition and
social media efforts. As Friendable adds and attracts new users to
its platform, it becomes increasingly more important for the
Company to release new and exciting features for its users to
enjoy. The Company is proud to announce that live streaming video
will be the next feature update to be added to the current
Friendable app in 2017, additional details will follow upon the
Company's final release date.
About Friendable
Friendable, Inc. is a mobile& social focused technology
company, focused on connecting users with location specific,
interactive and live content. Friendable is all about what's
happening now or in the future, rather than sharing the past. It is
all about having location specific, nearby or live (happening now)
opportunities. The Friendable brand represents a "friends first"
approach to making new connections by using its current social
networking app to create meet up style events or simply invite one
person or many to join your Friendable meet up. The app allows
users with like interests and locations to suggest a meet up topic,
with local venue recommendations to choose the specific date and
location to make it happen. The Company continues to iterate
features of its current mobile app offering, while seeking
strategic partnerships, technology acquisitions and new products
that may be developed to serve the ever expanding mobile
marketplace.
Friendable believes that user acquisition translates to
increased value and increased user interactions allow Friendable to
offer advertising and sponsorship opportunities to local
venues/businesses, where these meet ups take place. Generating
revenue by providing these venues with location specific
opportunities to reach potential customers when it matters most, as
well as new features and applications that expand revenue
opportunities into live video streaming (pay-per view) style or
subscription based monetization of premium content is the focus of
the Company's future growth. As of October 2016, Friendable
has exceeded one million (1,000,000) total downloads since the
Company's inception and launch of its current app, first released
in June 2013 under its previous brand name.
Visit our social media properties
Facebook: http://facebook.com/friendable
Twitter: https://twitter.com/friendableapp
Instagram: https://www.instagram.com/friendableapp/
Cautionary Language Concerning Forward-Looking
Statements
This press release contains forward-looking statements. The words
or phrases "would be," "will allow," "intends to," "will likely
result," "are expected to," "will continue," "is anticipated,"
"estimate," "project," or similar expressions are intended to
identify "forward-looking statements." Actual results could differ
materially from those projected by Friendable, Inc. The iTunes
rankings should not be construed as an indication in any way
whatsoever of the future value of the Friendable's common stock or
its present or future financial condition. The public filings of
Friendable, Inc. made with the Securities and Exchange Commission
may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of
the date of this press release and should not be relied upon as of
any subsequent date. Friendable, Inc. cautions readers not to place
reliance on such statements. Unless otherwise required by
applicable law, Friendable, Inc. does not undertake, and
Friendable, Inc. specifically disclaims any obligation, to update
any forward-looking statements to reflect occurrences,
developments, unanticipated events or circumstances after the date
of such statement.