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StreamTrack Reports Record Net Revenues and Milestones(January 08, 2014)
SANTA BARBARA, CA -- (Marketwired) -- 01/08/14 -- 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.
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.
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