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As the Company monitors month over month revenue growth, additional metrics such as new subscribers, revenue per subscriber and lifetime value of these subscribers are also posting gains
CAMPBELL, Calif., April 11, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology and marketing company, is pleased to announce additional increases in certain key metrics driving the Company’s growth, as its 360 offering sees increased traction, revenue growth and user retention.
As the Fan Pass Live platform has expanded, the Company’s other brands associated with its 360 offering have been exceeding the Company’s expectations, with the Artist Republik and FeaturedX products and services continuing to produce positive results. These new brands also serve a dual purpose, as artists seeking these new services are often unaware of the breadth of offerings available, which has become a new way to introduce the Fan Pass Livestream platform, showcasing performances, engaging fans, and unlocking various new revenue streams for each artist.
LINK to FAN PASS LIVE "360 Capabilities Deck & 2022 Presentation"
“Hearing from our artists, their experiences, as well as simply listening to how our offering can better support their journey to success has been one of the most rewarding parts of building our brand and positioning in this independent artist marketplace. From social media to revenue and user increases, as well as steady growth in key categories, it tells us everything we need to know about the path we are on as a Company, platform, team, and community of fledging artists, fans and investors all seeking to facilitate the launch and discovery of artists worldwide as we build a brand that stands alongside each one,” said Robert A. Rositano Jr., CEO, Friendable, Inc.
Key Company Metrics and Growth Indicators for March 2022 vs. February 2022:
New Customers – Increase +55.6%
New Subscribers – Increase +38%
Spend per Customer – Increase +5.2%
Revenue per Subscriber – Increase +4.2%
Subscriber Lifetime Value – Increase +23.5%
Subscriber Churn/Cancelation Rate – Down -15.6%
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.