StreamTrack Reports 2014 Record Net Revenues and Milestones
16 December 2014 - 8:45AM
Business Wire
StreamTrack, Inc. (OTCQB: STTK) ("StreamTrack" or the
"Company"), a digital media and technology services company
operating within the internet radio and streaming media sectors,
today released its annual 10-K.
The following is a summary of 2014 achievements:
- 12.3 cents revenue per listening hour
in fiscal 2014 compared to 7.8 cents in fiscal 2013, a year over
year increase of over 50%.
- 147,617 registered members as of
8/31/14 compared to 124,953 registered members as of 8/31/13, a
year over year increase of over 18%.
- Streaming related gross revenue of
$1,636,383 in fiscal 2014 compared to $900,405 in fiscal 2013, a
year over year increase of over 80%.
- Cost of revenue of $1,260,166 in fiscal
2014 compared to $1,703,353 in fiscal 2013, a decrease of over
26%.
- Operating expenses of 1,127,711 in
fiscal 2014 compared to 2,431,758 in fiscal 2013, a decrease of
over 54%.
- A net loss of $1,161,062 in fiscal 2014
compared to $2,610,279 in fiscal 2013, an improvement of
$1,449,217.
- Over 470 million songs played as of
8/31/2014 since Radioloyalty’s commercial launch in May 2011.
- Over 7.3 million song "likes" shared
through social media as of 8/31/2014.
- Progression of development work
associated with the launch of StreamTrack: an artist-based
broadcasting platform, Robot Fruit, Scratch.fm and WatchThis!
Michael Hill, Chief Executive Officer of StreamTrack, stated,
"Excluding the previous lead generation revenue based income in
2013, we saw roughly an 80% year over year growth related to
RadioLoyalty revenue as a standalone. The RadioLoyalty advertising
model has a far more attractive gross profit margin as
displayed in today’s 2014 report then other media channels. As
previously mentioned, we look to replicate this same model across
multiple verticals and further expand our global
advertising reach."
About StreamTrack, Inc. StreamTrack, Inc. (the
"Company") is a digital media and technology services company. The
Company provides audio and video streaming and advertising services
through its RadioLoyalty™ Platform (the "Platform") to over 5,500
internet and terrestrial radio stations and other broadcast content
providers. The Platform consists of a web-based and mobile player
that manages streaming audio and video content, social media
engagement, display and video ad serving within the web player and
is also capable of replacing audio ads with video ads within the
web player in a live or on-demand environment. The Company offers
the Platform directly to its broadcasters and integrates or white
labels its technologies with web-based internet radio guides and
other web-based content providers. The Company is also continuing
development of WatchThis™, a patent-pending technology to provide
web, mobile and IP television streaming services that are
e-commerce enabled within streamed content.
For more information
visit: http://www.streamtrack.com or http://www.radioloyalty.com
Forward-Looking StatementsCertain statements contained
herein constitute "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on current expectations,
estimates and projections about StreamTrack's industry,
management's beliefs and certain assumptions made by management.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and are subject to certain
risks, uncertainties and assumptions that are difficult to predict
and historical accomplishments are not necessarily indicative of
future results. Because such statements involve risks and
uncertainties, the actual results and performance of the Company
may differ materially from the results expressed or implied by such
forward-looking statements. Given these uncertainties, readers are
cautioned not to place undue reliance on such forward-looking
statements. Unless otherwise required by law, the Company also
disclaims any obligation to update its view of any such risks or
uncertainties or to announce publicly the result of any revisions
to the forward-looking statements made here. Readers should review
carefully reports or documents the Company files periodically with
the Securities and Exchange Commission.
Contact:Investor RelationsStreamTrack, Inc.Michael
HillChairman and Chief Executive Officerir@streamtrack.com+1
805-308-9151
StreamTrack, Inc.Investor RelationsMichael Hill,
805-308-9151Chairman and Chief Executive
Officerir@streamtrack.com