Following the Company’s acquisition of Artist Republik on January 4, 2022, current management now has approximately 100 days of operations to report, as monthly metrics and growth continue to climb
CAMPBELL, CA, April 26, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology and marketing company, is pleased to announce the initial trends and results coming specifically from the Artist Republik music distribution and related services division.
Following its closing of the Artist Republik acquisition, management was faced with deploying a short-term strategy that would not only replace failing and outdated technology, but at the same time engage in a mid-term strategy designed to build trust with the database of artists who have an affinity to the Artist Republik brand prior to the transition to new management.
To ensure each artist of the Company’s commitment to each of these service offerings, the Company’s Fan Pass Live team took the Artist Republik brand immediately under their direction. After an initial 100 days the team has been successful at upgrading systems, rebuilding certain technologies, migrating, and consolidating support, cross promoting the entire 360 artist offering and integrating brand messaging.
The result of these efforts has led to key indicators of growth and scale, allowing the Company to focus on its delivery of targeted marketing messaging, industry word of mouth and other forms of awareness that lead artists to the Company’s Fan Pass Live Platform and offering.
Key Metrics and Growth first 100 Days – Artist Republik Music Distribution Services
January 4, 2022 – April 21, 2022 (source: stripe merchant reporting)
Revenue Per Subscriber – +107.3% (average $10.72 per subscriber)
Spend per Customer – +28.3% (average of $34.12 per customer)
(“LTV” Subscriber “Lifetime Value”– +168.5% (average “Lifetime Value” $214.45)
“The reward of seeing results continue to motivate and point our team in the right direction, as our collective efforts of testing, iterating, testing, testing, and more testing pay off. We must constantly look at the macro vision and direction but it’s the micro levels of detail that provide the most valuable data as we seek the next milestones in artist sign ups, fan engagement and conversions to purchases of all kinds, which is what the above results are showing us. We are and continue to be on the correct path, doing everything at a pace the business can keep up with as we eye our opportunity for explosive growth. I can’t say it enough, but without our talented team internally and all of our partners we would certainly never have made it to this place, it’s sometimes hard to believe how far we have come with the launch of our first artist offering less than 20 months ago, an acquisition just over 3 months ago, and the team continues to move through each challenge and deliver an amazing product with an unmatched level of support, and that’s not coming from me, this is straight from the artists and reviews being received by the Company. Thank you once again to my partner, brother and CTO, Dean Rositano, our team, our partners, and our shareholders, 2022 has only just begun,” said Robert A. Rositano Jr., CEO, Friendable, Inc.
To support Fan Pass and our artists:
Audiences can visit the website at www.fanpasslive.com or download the mobile app from the Apple App or Google Play stores. Fan Pass offers a seven-day free trial, which provides a VIP all-access pass. After seven days, this free trial converts to a fee-based subscription of $2.99 per month, of which artists also receive up to 40% as revenue sharing on a recurring monthly basis.
About Friendable Inc.
Friendable Inc. is a mobile technology and marketing company focused on developing and identifying products, services and brand opportunities with mass market potential and scalability.
Friendable published its first mobile application in the Apple App Store and Google Play Store in 2014 in the social networking and dating category. The Friendable app achieved over 1.5 million downloads, top 10 worldwide rankings, and has led to celebrity-related marketing opportunities and various relationships with well-known music artists as well as up-and-coming independent artists.
Friendable has since pivoted its business focus to its Music Artist Offering, a one of a kind 360 artist platform. The offering now includes music production/collaboration, music distribution (Spotify, SoundCloud, Play Listing, Livestream/live events, promotions, ticket sales, behind the scenes, Merch designs/store/ship, tips, fan interaction, subscription offerings and more, which all equal revenue sharing and earning for all music artists. It is the Company’s goal to become the new launch point for Indie Artists, as well as Artists at all levels, as they build engagement, revenue, and fans/followers.
Fan Pass, its livestream artist platform. Launched July 24, 2020, the Fan Pass livestream platform has proven invaluable for artists and fans alike as performances shifted from the stage to the screen, with its acquisition of Artist Republik and FeaturedX in January 2022.
Friendable was founded by brothers Robert A. Rositano Jr. and Dean Rositano, who have more than 27 years of experience working together on technology-related ventures.
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 Company’s iTunes rankings should not be construed as an indication in any way whatsoever of the future value of 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.