UOMO Media Inc. (OTCBB:UOMO), a multi-channel entertainment and media company, is pleased to announce that in the first two months of the first quarter of the new fiscal year, the company has experienced (unaudited) revenues.
The company noted that while there has been an economic downturn of late, the numbers would seem to point to a turn-around when it comes to the opportunity of monetizing entertainment assets. The International Federation of the Phonographic Industry (IFPI) estimated that the broader music industry was worth approximately US$130 billion in 2006.
PriceWaterhouseCoopers estimates that by 2011, the global media and entertainment industry will be worth US$ 2 trillion.
The Company’s CFO, Ms. Jueane Thiessen commented, “The revenues from the launch of our new operations have exceeded management’s internal expectations and our numbers seem to demonstrate that we are moving into revenues faster than we originally anticipated.”
Mr. Camara Alford, CEO and Chairman of UOMO Media, added, "This further confirms our business model. With our vision of how we can develop the current market opportunities, we expect that we will only continue to increase our revenues across our entertainment-based media properties.”
The company notes that the numbers contained in this release are unaudited, and are made in good faith and based on all the financial information available to the company today.
UOMO Media Inc. also wishes to caution readers that any forward looking statements are beliefs or predictions, and that actual results might differ materially from those projected in any or all of the forward-looking statements. Further, past financial business, operations and stock performance are not necessarily indicative of the company's future performance.
Forward Looking Statements:
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. UOMO Media Inc. takes no obligation to update or correct forward-looking statements.
About UOMO Media Inc.
UOMO Media Inc. is a multi-channel entertainment company that acquires, produces, and manages intellectual media content and digital assets. UOMO integrates existing and well-established revenue streams in recorded music, publishing, talent management and distribution through its four operating divisions: UOMO Digital Distribution, UOMO Recorded Music, UOMO Talent Management, and UOMO Publishing. PriceWaterhouseCoopers estimates that by 2011, the global media and entertainment industry will be worth US$ 2 trillion. www.uomomedia.com.
Contacts:
Javed Mawji, 646-808-0685
Investor Relations
ir@uomomedia.com
www.uomomedia.com
