YANGAROO Expects Record Annual and Fourth Quarter Revenue
Preliminary Results Show Annual Revenues up 29% and Q4 Revenues up 7% Year Over Year and 16% Quarter Over Quarter Led by 70% Annual Growth in Advertising Delivery
YANGAROO Inc. (TSX VENTURE: YOO) (OTCBB: YOOIF), the industry's leading secure digital media management and distribution company today announced preliminary and un-audited numbers, which indicate that 2015 Annual and Fourth Quarter revenue will be an all-time record for the company, with total Annual revenue of $5.5M, an increase of 29% over the previous year, and Fourth Quarter revenue expected to be approximately $1.6M. This represents growth of 7% compared to the same period in 2014 and 16% greater than the prior quarter.
Advertising led the way with an increase of approximately 70% for the full year, over the previous year, and 25% 4th quarter growth over the previous year. The Entertainment Division saw continued growth, up 4% year on year.
"Revenue continues to grow, led by the advertising division which signed 103 new clients during 2015," said Gary Moss, President and CEO of YANGAROO. "This momentum has continued into 2016, with strong client additions in Canada and the West Coast in particular. Brand awareness continues to build and this, coupled with recent merger activity among our competitors, positions YANGAROO well for a profitable 2016."
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.
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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.