By Business Wirevia The Motley Fool
Filed under: Investing
FAB Universal Sees Explosive Podcast Audience Growth For Libsyn
Unique Monthly Audiences Increase from 20 Million to 28 million
PITTSBURGH, Pa.–(BUSINESS WIRE)– FAB Universal (NYSE MKT:FU), a worldwide distributor of digital entertainment, today announced unique monthly audiences has experienced accelerated growth from 20 million people in the first quarter of 2012 to 28 million people in the first quarter of this year. The 40% increase is a result of the addition of 8 million podcast audience members enjoying podcasts from 240 countries around the world on the Libsyn Network each and every month.
The recent hockey stick type growth chart for audience engagement with podcasts comes at a time when more shows are now being distributed to mobile devices than to traditional PC‘s. Media distribution to mobile devices such as iPhones and iPads demonstrate a fundamental shift away from the traditional method of downloads via iTunes to the PC. This fundamental catalyst represents a significant opportunity for monetization of podcasts through advertising due to the fact that these mobile downloads can now be tracked in the same manner as streaming video content from a website like YouTube. This type of tracking was not possible before this shift in audience consumption habits.
FAB Universal, the parent company of Libsyn, is looking for Libsyn to generate $1 million of profit this year, a first for the podcast division. FAB Universal Corp. expects to generate Revenue between $98.9 million and $102.6 million for the full year 2013 and expects after tax Net Income between $19.3 million and $20.1 million for the full year 2013.
“It is an exciting time for podcasting and we are well-positioned for substantial revenue growth with the Libsyn platform, our mobile strategy and monetization opportunities for our producers,” said Laurie Sims, President of Libsyn. “Our strategy has always been to provide producers with the tools to distribute and monetize podcast media and today we remain the premier podcast platform in the world. We expect to see even more opportunities for hosting and monetization revenue in 2013.”
About FAB Universal Corp:
FAB Universal Corp. is a global leader in digital media entertainment sales and distribution. FAB delivers media to its customers worldwide through Intelligent Kiosks, Retail Stores, Retail Franchises and online through Apple iTunes and Google Android through three business units: Digital Media Services, Retail Media Sales and Wholesale Media Distribution. We distribute billions of movie, music, podcast, TV show and other
From: http://www.dailyfinance.com/2013/04/17/fab-universal-sees-explosive-podcast-audience-grow/
