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. - (NewMediaWire) - January 19, 2022 - 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.
“With our focus on supporting all existing artists, marketing and upgrading technology for expansion deployment, our team has already made tremendous strides in bulking up the technology and fixing issues that are currently holding back certain revenue channels that are just bursting with opportunity and artist orders. We see it; we have our teams managing every aspect; and, once we have ensured they are solid for growth, we will flip all the switches to green once again. I believe we will not only scale existing revenues, but cross-promoting the Fan Pass Live service offerings will allow us to scale revenues on both sides from this huge influx of approximately 100,000 new artists alone, prior to any additional marketing efforts we also intend to roll out shortly,” concluded Rositano Jr.
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 removed the social dating app from the app stores and has pivoted its business focus to 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.
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.
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