Rightscorp Announces 236% Revenue Growth for 2013
Post# of 94264
Posted On: 01/27/2014 7:21:53 AM
Rightscorp Announces 236% Revenue Growth for 2013
SANTA MONICA, Calif., Jan. 27, 2014 /PRNewswire/ -- Rightscorp, Inc. (OTCQB: RIHT), a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP), reported revenues for its fourth quarter ended December 31, 2013. The Company announced Q4 revenues of $155,381 up 195% from $52,739 in the same period last year. Revenues for the full year 2013 were $324,000, up 239% from $95,565 for the full year 2012. The growth in revenues was driven by the Company's ability to increase the amount of copyrights in its automated system by 135% from approximately 17,000 in the fourth quarter 2012 to more than 40,000 in the fourth quarter of 2013.
Robert Steele, COO stated, "The trending in our numbers is very encouraging. Since receiving additional equity from our investors, we have been able to further automate our process for ingesting copyrights. We currently have over 1 million copyrights under contract and we are loading thousands more every month. Our operational model is proving its ability to scale into a large and successful business as we help collect on behalf of artists and copyright holders. The increase of our ingestion rate will be our primary focus as it is a direct revenue driver in hand for 2014. We can expect our $750,000 annual revenue run rate to accelerate as we are at 4% of our copyrights under contracts ingested. Additionally, increases in the number of ISP's forwarding our notices should further drive our growth rate and increase revenues.
"The metrics are clear. As we continue to ramp up our copyright inventory, we expect our revenues to increase proportionally. To date, we have closed on more than 50,000 cases of copyright infringements, and we have paid the owners of those copyrights for their work. We are currently in talks with the owners of millions of additional copyrights. Rightscorp is pleased to offer a technology and an operational system that enables the creators and owners of intellectual property to be rightfully compensated for the use of their assets."
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP). The Company's patent pending digital loss prevention technology focuses on the infringement of digital content such as music, movies, software, and games and ensures that owners and creators are rightfully paid for their IP. Rightscorp implements existing laws to solve copyright infringements by collecting payments from illegal file sharing activities via notifications sent through Internet Service Providers (ISPs). The Company's technology identifies copyright infringers, who are offered a reasonable settlement option when compared to the legal liability defined in the Digital Millennium Copyrights Act (DMCA). Based on the fact that 24% of all Internet traffic is used to distribute copyrighted content without permission or compensation to the creators, Rightscorp is pursuing an estimated $2.3 billion opportunity and has monetized major media titles through relationships with industry leaders. http://www.rightscorpinc.com/
Safe Harbor Statement
This press release may include forward looking statements. All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the Company's anticipated financial position, business strategy and plans and objectives of management of the Company for future operations, are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors not limited to, general economic and business conditions, competitive factors, changes in business strategy or development plans, the ability to attract and retain qualified personnel, and changes in legal and regulatory requirements. Such forward-looking statements reflect the current views of the Company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph.
For further investor and media information contact:
Andrew Haag
Managing Partner
IRTH Communications
rightscorp@irthcommunications.com
1-866-976-4784
SOURCE Rightscorp, Inc.
Copyright 2014 PR Newswire
SANTA MONICA, Calif., Jan. 27, 2014 /PRNewswire/ -- Rightscorp, Inc. (OTCQB: RIHT), a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP), reported revenues for its fourth quarter ended December 31, 2013. The Company announced Q4 revenues of $155,381 up 195% from $52,739 in the same period last year. Revenues for the full year 2013 were $324,000, up 239% from $95,565 for the full year 2012. The growth in revenues was driven by the Company's ability to increase the amount of copyrights in its automated system by 135% from approximately 17,000 in the fourth quarter 2012 to more than 40,000 in the fourth quarter of 2013.
Robert Steele, COO stated, "The trending in our numbers is very encouraging. Since receiving additional equity from our investors, we have been able to further automate our process for ingesting copyrights. We currently have over 1 million copyrights under contract and we are loading thousands more every month. Our operational model is proving its ability to scale into a large and successful business as we help collect on behalf of artists and copyright holders. The increase of our ingestion rate will be our primary focus as it is a direct revenue driver in hand for 2014. We can expect our $750,000 annual revenue run rate to accelerate as we are at 4% of our copyrights under contracts ingested. Additionally, increases in the number of ISP's forwarding our notices should further drive our growth rate and increase revenues.
"The metrics are clear. As we continue to ramp up our copyright inventory, we expect our revenues to increase proportionally. To date, we have closed on more than 50,000 cases of copyright infringements, and we have paid the owners of those copyrights for their work. We are currently in talks with the owners of millions of additional copyrights. Rightscorp is pleased to offer a technology and an operational system that enables the creators and owners of intellectual property to be rightfully compensated for the use of their assets."
About Rightscorp, Inc.
Rightscorp (OTCQB: RIHT) is a leading provider of monetization services for artists and holders of copyrighted Intellectual Property (IP). The Company's patent pending digital loss prevention technology focuses on the infringement of digital content such as music, movies, software, and games and ensures that owners and creators are rightfully paid for their IP. Rightscorp implements existing laws to solve copyright infringements by collecting payments from illegal file sharing activities via notifications sent through Internet Service Providers (ISPs). The Company's technology identifies copyright infringers, who are offered a reasonable settlement option when compared to the legal liability defined in the Digital Millennium Copyrights Act (DMCA). Based on the fact that 24% of all Internet traffic is used to distribute copyrighted content without permission or compensation to the creators, Rightscorp is pursuing an estimated $2.3 billion opportunity and has monetized major media titles through relationships with industry leaders. http://www.rightscorpinc.com/
Safe Harbor Statement
This press release may include forward looking statements. All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the Company's anticipated financial position, business strategy and plans and objectives of management of the Company for future operations, are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "estimate," "expect," "intend," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors not limited to, general economic and business conditions, competitive factors, changes in business strategy or development plans, the ability to attract and retain qualified personnel, and changes in legal and regulatory requirements. Such forward-looking statements reflect the current views of the Company with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to the operations, results of operations, growth strategy and liquidity of the Company. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this paragraph.
For further investor and media information contact:
Andrew Haag
Managing Partner
IRTH Communications
rightscorp@irthcommunications.com
1-866-976-4784
SOURCE Rightscorp, Inc.
Copyright 2014 PR Newswire
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