- Friendable has ten successful months of growth with the Fan Pass platform, including an increase of 188% in new artist sign-ups since the beginning of the year.
- The company will be shifting all attention to its Fan Pass platform
- The global streaming video market was valued at $50.11 billion in 2020. This number is expected to grow at a CAGR of 21% through 2028.
Over the next 120 days and through the remainder of 2021, mobile technology and marketing company Friendable (OTC: FDBL) will be implementing a new strategy designed to ensure sustained and continued growth, consisting of the launch of an all-new corporate website, the V2 Fan Pass mobile and web applications, and a paid media campaign. After over ten months of successful operation and ongoing growth, the Fan Pass Livestream platform is advancing into the next phase of operations (https://ibn.fm/4CrCk).
Fan Pass was launched in July 2020. Since the beginning of the year, Fan Pass has seen an increase of 188% of new artist sign-ups. In all significant parameters, the company has achieved double- and triple-digit growth. The launch of Fan Pass version two, is expected to continue promoting growth, with new innovative features for members, amid an increase in demand for services and artist acquisitions.
“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,” Friendable CEO Robert A. Rositano Jr. said. “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.”
Friendable wants to continue to build value in the business of live streaming and live event coordination for the foreseeable future and to accomplish this, it has set the following milestones as part of its 120-day strategy:
- New company/corporate website
- The sale of the Friendable dating app – transitioning 100% focus on the Fan Pass platform
- V2 Fan Pass beta testing completion for mobile and web application
- New tech tools for artists
- New mobile and web app deployment
- Paid media rollout for artists, fans, and public company awareness
- Social media influencer addition
- The rollout of the brand ambassador program
- Uplisting the company
- Building service and subscriber revenue as marketing campaigns scale and diversify
- Adding industry talents, partners, and BOD support
- Rolling out its NFT (non-fungible token) offering
Additional areas of growth and focus will be dedicated to driving downloads of the mobile app, the acquisition of exclusive content, artist performance, ticket sales, fee-based Pro Services, merch, fan subscriptions, recurring revenue, and adding a VIP Backstage Pass for those who cannot attend live events when venues are slated to reopen in late 2021-2022.
One critical data point for Fan Pass is a Livestream/New York Magazine survey in which 45% of those who responded said that they would pay for live video from an artist, performer, speaker, or sports team. Eighty-seven percent of respondents said they would rather watch video online if it offered more behind-the-scenes content (https://ibn.fm/keQf7).
Friendable is strategically leveraging its offering to insert itself in the middle of the global streaming video market that is valued at $50.11 billion in 2020 (https://ibn.fm/FYGa7). This number is expected to grow at a CAGR of 21% through 2028. With approximately 100 million users on the internet watching videos daily, the company is positioning itself to disrupt a highly lucrative market.
NOTE TO INVESTORS: The latest news and updates relating to FDBL are available in the company’s newsroom at http://ibn.fm/FDBL
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