Yangaroo Surpasses Major Financial Milestone
22 January 2014 - 1:00AM
Access Wire
Quarterly Revenues
Exceed $1 Million For
First Time
TORONTO, CANADA -
January 21, 2014 -
YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF) the industry's leading
secure digital media management company, is pleased to announce
that revenues for the fourth quarter of 2013 surpassed the
$1 million
milestone for the first time
in the company's history. Revenue grew
approximately 25% from
the prior quarter.
Growth continues from
all sectors of the business. The
Advertising Division
led the way with revenue from 15 new clients and
brands that came on board during the quarter,
in addition to increased business from existing clients. The
Music Division saw new
revenues from the delivery of HD music videos to Sean "Diddy"
Combs' new music
television network, Revolt, as well as continued growth
from the YANGAROO
Awards Division.
"What a great way to
end 2013, especially
after all the work that went
into getting the capital structure of the company in
order,"
said Gary Moss, President and
CEO of YANGAROO. "Surpassing the
$1 million
mark in the fourth
quarter could not have come at a better time. We
look at this as the tipping point for this company and 2014 will be
a very exciting year. We expect this growth to both continue and accelerate with the
expansion of our New York-based Advertising team and our Entertainment Division
expanding its relationships beyond North America."
The
audited fourth quarter and
2013 fiscal year results are expected to be announced in
April, 2014.
About
YANGAROO:
YANGAROO is a company dedicated to
digital media management. YANGAROO's patented Digital Media
Distribution System (DMDS) is a leading secure B2B digital cloud
based solution focused on the music and advertising industries. The
DMDS solution provides more accountable, effective, and far less
costly digital management of broadcast quality media via the
Internet. It replaces the physical, satellite and closed network
distribution and management of audio and video content, for music,
music videos, and advertising to television, radio, media,
retailers, and other authorized recipients. The YANGAROO Awards
platform is now the industry standard and powers most of North
America's major awards shows.
YANGAROO has offices
in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX
Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under
OTCBB: YOOIF. For further information, please contact Gary Moss at
416-534-0607 ext.111 or visit www.yangaroo.com.
###
Contact:
For Industry Inquiries:
Celia Vine, LLC
Deanna Kennedy
Phone: 1 (413) 219-7588
deannakennedy@celiavine.com
For Investor Inquiries:
The Howard Group Inc.
Dave Burwell
Phone: 1 (403) 221-0915
dave@howardgroupinc.com
The statements
contained in this release that are not purely historical are
forward-looking statements and are subject to risks and
uncertainties that could cause such statements to differ materially
from actual future events or results. Such forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The TSX Venture
Exchange does not accept responsibility for the adequacy or
accuracy of this release.
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