FAB Universal (NYSE MKT: FU), a worldwide distributor of digital media
and entertainment, today announced the exclusive release of two new
albums through its wholesale, retail and digital distribution channel.
FAB exclusively launched 17 albums in 2012 driving new customers to its
retail and kiosk channels and expanding the customer base for its
wholesale division.
The two new albums, Super Model and Smell Li Lingyu, are now on sale
nationwide in China exclusively by FAB. “Exclusive distribution
agreements with top artists are a very effective means to drive new
customers into FAB’s retail and kiosk locations and expand the reach of
our wholesale business,” said Chris Spencer, FAB Universal CEO. “Similar
to what Netflix (NASDAQ:NFLX) and other new media distribution companies
are currently moving towards, FAB is looking to bring more exclusive
content deals to its network of distribution outlets, which we believe
is the top network in all of China for musicians and artists to launch
their latest album, movie or TV series.”
FAB has aggressively been working to expand its media distribution
platform to include copyright licensing, artist management, album
production and distribution through its nationwide chain of retail
stores, kiosks and wholesale customers. Based on its current media
distribution model, Net Revenue for the FAB Universal distribution
network was approximately $65 million for the first nine months of 2012.
These two new exclusive deals include artist Li Lingyu, who sold 8
million copies of her last album and has sold over 80 million albums in
her career. Li Lingyu launched her most recent album exclusively through
FAB with a launch event at FAB’s Joy City flagship store in Beijing.
Smell Li Lingyu was produced by Tempo Group and Super Model, a new album
from Wind Forest Volcano Orchestra, was produced by the Taihe Rye
Company.
(The above financial numbers are pro forma and are stated as if the FAB
acquisition had occurred on January 1, 2012. The three quarters of
operating results would have resembled the above numbers which was
disclosed in our third quarter Form 10-Q filing under Unaudited pro
forma condensed consolidated financial information.)
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 digital files to consumers in 240 countries. Sales of digital
media are generated through kiosks networks, subscription sales for
mobile devices, smartphone Apps and Netflix-like subscription models. In
2011, we distributed billions of downloads of copyrighted music, video
games, ringtones, ebooks, movies and podcasts to over 50 million people
worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows
Phones, Androids and many other devices and destinations. We are a
publicly held, Pittsburgh based company with thousands of shareholders
and a world-class team. Visit us on the web at www.fabuniversal.com,
email us at contact@fabuniversal.com.
Legal Notice
Legal Notice Regarding Forward-Looking Statements: "Forward-looking
Statements" as defined in the Private Securities litigation Reform Act
of 1995 may be included in this news release. These statements relate to
future events or our future financial performance. These statements are
only predictions and may differ materially from actual future results or
events. We disclaim any intention or obligation to revise any
forward-looking statements whether as a result of new information,
future developments or otherwise. There are important risk factors that
could cause actual results to differ from those contained in
forward-looking statements, including, but not limited to risks
associated with changes in general economic and business conditions,
actions of our competitors, the extent to which we are able to develop
new services and markets for our services, the time and expense involved
in such development activities, the level of demand and market
acceptance of our services, changes in our business strategies and acts
of terror against the United States.
Contacts:
Arthur Douglas and Associates Art Batson, 407-478-1120