· New artists sign ups increase by 188% since beginning of year as all significant parameters achieve double- and triple-digit growth
· Substantial growth to continue as Friendable presents an aggressive program for the next 120 days, including all-new corporate website, v2 Fan Pass mobile and web applications, and expansive paid media campaigns
Campbell, CA - (NewMediaWire) - May 25, 2021 - Friendable, Inc. (OTC: FDBL) (the “Company”) is pleased to announce that it is entering its next phase of growth, following its initial and successful launch of the Fan Pass Livestreaming platform in July 2020. It was then that Friendable announced the release of Fan Pass with a huge Livestream Event, attracting die-hard music fans and social followers from more than 70 countries and every continent except Antarctica!
This event, and the performance of the company thereafter, outperformed and exceeded every goal the company had set for itself for its first six months. The growth has continued to accelerate in 2021 with new artist sign-ups nearly tripling since the end of December 2020, and all other meaningful parameters registering robust growth for the first four months of the year.
The Company now emerges from more than 10 months of successfully operating the Fan Pass livestream platform, acquiring artists, fans, and content at a rapid rate. They also built a set of services to support this surge of artists now residing on the platform.
“The success of the Fan Pass platform has always been based on this initial proof of concept and pilot phase, which has now been completed,” said Friendable, Inc. CEO Robert A. Rositano Jr. “I believe the v2 release of the all-new Fan Pass platform is going to blow our existing artists away and build a buzz through artist communities that will drive future growth, fan sign-ups, merchandise sales and recurring revenue, all of which have been tested and proven at a micro level throughout our proof of concept and pilot phase.”
The Company’s strategy over the coming months (specifically the next 120 days), and through the remainder of 2021, has been designed to build value in the business of livestreaming and live event content. This can be seen by the accomplishment of the following milestones:
· New Company/Corporate Website
· Sale of Friendable dating app – no longer in this business/100% focus on Fan Pass
· V2 beta testing complete Mobile and Web applications
· New Company presentations, video and artist testimonials
· All New technology for artist tools
· New Mobile and Web app release and deployment
· Paid media roll out – artists, fans and public company awareness
· Add social media influencers
· Roll out brand ambassador program
· Up List to new Exchange – Public Company
· Build service and subscriber revenue as marketing campaigns scale and diversify
· Add Industry talent, partners, and BOD support
· Roll out Artist NFT Offering
Additionally, areas of growth and focus will be dedicated to driving downloads of the Fan Pass mobile app, acquiring exclusive content, artist performances/ticket sales, fee-based artist “Pro Services”, merchandise sales, fan subscriptions/recurring revenue and adding the “VIP Backstage Pass” for an entirely new experience for fans who can’t attend in person as live venues begin to re-open in late 2021 – 2022.
Friendable is in the enviable position of creating a new and innovative music platform for artists at all levels to stream their work to fans worldwide at a time when live streaming is taking off:
· Analysts at Grand View Research peg the global video streaming market at $50.11 billion in 2020 with robust 21.0% compound annual growth expected to 2028.
· U.S. market has more streaming service subscriptions than people (340 million vs. 330 million).
· As determined by Roku, nearly one in three U.S. households cancelled cable or satellite subscriptions in favor of alternatives to view movies and other content, and another 25% of households trimmed their traditional television services, a trend known as cord shaving.
· 45% of respondents in a Livestream/New York Magazine survey said they would pay for live video from a favorite performer, speaker or sports team. A stunning 87% of respondents said they prefer to watch video online if it meant more behind-the-scenes content, a critical piece of what Fan Pass offers.
· Roughly 100 million internet users watch online videos every day, creating a highly lucrative market opportunity for Friendable Inc.
For more information and to support Fan Pass artists, download the Fan Pass app on the Apple App Store or the Google Play Store.
About Friendable, Inc.
Friendable Inc. (FDBL) is a mobile technology and marketing company focused on developing and identifying products, services and brand opportunities with mass market potential and scalability.
Launched July 24, 2020, the Company’s new flagship offering, the Fan Pass livestream platform, has proven to be invaluable for artists and fans alike as performances shifted from the stage to the screen.
Even as live shows resume, Fan Pass serves a vital need: providing a virtual stage for artists to perform, earn and engage with fans from around the world. In addition, Fan Pass serves as a VIP or Backstage Pass, giving fans exclusive access into the lives of their favorite artists.
Friendable Inc. was founded by Robert A. Rositano Jr. and Dean Rositano, two brothers with over 27 years of experience working together on technology-related ventures. For more information about the company, visit www.Friendable.comor www.fanpasslive.com
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.
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