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Posted On: 01/25/2022 8:18:08 AM
Post# of 27175
$FDBL On Heels of Music Distribution Revenues Exceeding $450,000 in 2021, Friendable, Inc. Releases New Details Surrounding Its Acquisition of Artist Republik
Along with Adding New Fan Pass Offerings, the Company Adds Exclusive Technology, Operational and Marketing Resources, and Positions the Combined Offerings for Continued Revenue Growth
CAMPBELL, Calif., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology and marketing company, is pleased to announce additional details relating to the recent acquisition of music distribution company Artist Republik.
Following the development and growth of the Company’s livestream artist offering, management identified expansion opportunities for Friendable’s platform in the music distribution and services sector, which are services that truly allow artists, most often independent artists, to be heard. These unique distribution services typically exist and are managed by an artist’s label or manager, but in the case of Fan Pass Live, the platform acts as the artist’s label or manager in a sense by providing these services and managing all that comes with them.
The mission to acquire a distribution company, platform or service was one of high priority for the Fan Pass Live platform in the summer of 2021 as Friendable’s management began to set the criteria for identifying an acquisition target in the music distribution sector. Goals for a target acquisition candidate related to historical and ongoing revenues, technology, services, industry relationships and, most of all, an active artist database that fit the service offering currently being well received by artists on the Fan Pass Live platform.
“Artist Republik has experienced great momentum in music distribution, and now Friendable and Fan Pass are the beneficiaries of approximately 100,000 artists alongside these revenues that exceeded $450,000 in approximately eight months of 2021, of which our combined audit and 10k will provide all the details when filed. We also have the need to update technologies, bug fix and expand resources to increase these current and historical revenues, so it was a real no-brainer for us to pursue the opportunity and, ultimately, complete the acquisition of Artist Republik. It was a bonus to have such great synergies with our branding, marketing, people, technology and relationships, as well,” said Robert A. Rositano Jr. CEO, Friendable, Inc.
https://finance.yahoo.com/news/heels-music-di...00374.html
Along with Adding New Fan Pass Offerings, the Company Adds Exclusive Technology, Operational and Marketing Resources, and Positions the Combined Offerings for Continued Revenue Growth
CAMPBELL, Calif., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology and marketing company, is pleased to announce additional details relating to the recent acquisition of music distribution company Artist Republik.
Following the development and growth of the Company’s livestream artist offering, management identified expansion opportunities for Friendable’s platform in the music distribution and services sector, which are services that truly allow artists, most often independent artists, to be heard. These unique distribution services typically exist and are managed by an artist’s label or manager, but in the case of Fan Pass Live, the platform acts as the artist’s label or manager in a sense by providing these services and managing all that comes with them.
The mission to acquire a distribution company, platform or service was one of high priority for the Fan Pass Live platform in the summer of 2021 as Friendable’s management began to set the criteria for identifying an acquisition target in the music distribution sector. Goals for a target acquisition candidate related to historical and ongoing revenues, technology, services, industry relationships and, most of all, an active artist database that fit the service offering currently being well received by artists on the Fan Pass Live platform.
“Artist Republik has experienced great momentum in music distribution, and now Friendable and Fan Pass are the beneficiaries of approximately 100,000 artists alongside these revenues that exceeded $450,000 in approximately eight months of 2021, of which our combined audit and 10k will provide all the details when filed. We also have the need to update technologies, bug fix and expand resources to increase these current and historical revenues, so it was a real no-brainer for us to pursue the opportunity and, ultimately, complete the acquisition of Artist Republik. It was a bonus to have such great synergies with our branding, marketing, people, technology and relationships, as well,” said Robert A. Rositano Jr. CEO, Friendable, Inc.
https://finance.yahoo.com/news/heels-music-di...00374.html
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