On Heels of Music Distribution Revenues Exceeding $450,000 in 2021, Friendable, Inc. Releases New Details Surrounding Its Acquisition of Artist Republik

Rhea-AI Summary

Friendable Inc. (OTC: FDBL) has announced the acquisition of music distribution company Artist Republik, which brings approximately 100,000 artists and generated revenues of over $450,000 in 2021. This acquisition is pivotal for Friendable's Fan Pass Live platform, enhancing its distribution capabilities and artist support. CEO Robert A. Rositano Jr. highlighted synergies in branding and technology, aiming for revenue growth through expanded resources and marketing efforts. The company intends to address current technological issues to maximize revenue potential.

Positive

• Acquisition of Artist Republik adds approximately 100,000 artists to the platform.
• Historical revenues from Artist Republik exceed $450,000 in 2021, enhancing financial outlook.
• Opportunities for expanding market reach and revenue growth through technology upgrades and marketing.

Negative

• Current technological issues may hinder immediate revenue generation.
• -

Along with Adding New Fan Pass Offerings, the Company Adds Exclusive Technology, Operational and Marketing Resources, and Positions the Combined Offerings for Continued Revenue Growth

CAMPBELL, Calif., Jan. 19, 2022 (GLOBE NEWSWIRE) -- Friendable Inc. (OTC: FDBL) (the “Company”), a mobile technology and marketing company, is pleased to announce additional details relating to the recent acquisition of music distribution company Artist Republik.

Following the development and growth of the Company’s livestream artist offering, management identified expansion opportunities for Friendable’s platform in the music distribution and services sector, which are services that truly allow artists, most often independent artists, to be heard. These unique distribution services typically exist and are managed by an artist’s label or manager, but in the case of Fan Pass Live, the platform acts as the artist’s label or manager in a sense by providing these services and managing all that comes with them.

The mission to acquire a distribution company, platform or service was one of high priority for the Fan Pass Live platform in the summer of 2021 as Friendable’s management began to set the criteria for identifying an acquisition target in the music distribution sector. Goals for a target acquisition candidate related to historical and ongoing revenues, technology, services, industry relationships and, most of all, an active artist database that fit the service offering currently being well received by artists on the Fan Pass Live platform.

“Artist Republik has experienced great momentum in music distribution, and now Friendable and Fan Pass are the beneficiaries of approximately 100,000 artists alongside these revenues that exceeded $450,000 in approximately eight months of 2021, of which our combined audit and 10k will provide all the details when filed. We also have the need to update technologies, bug fix and expand resources to increase these current and historical revenues, so it was a real no-brainer for us to pursue the opportunity and, ultimately, complete the acquisition of Artist Republik. It was a bonus to have such great synergies with our branding, marketing, people, technology and relationships, as well,” said Robert A. Rositano Jr. CEO, Friendable, Inc.

“With our focus on supporting all existing artists, marketing and upgrading technology for expansion deployment, our team has already made tremendous strides in bulking up the technology and fixing issues that are currently holding back certain revenue channels that are just bursting with opportunity and artist orders. We see it; we have our teams managing every aspect; and, once we have ensured they are solid for growth, we will flip all the switches to green once again. I believe we will not only scale existing revenues, but cross-promoting the Fan Pass Live service offerings will allow us to scale revenues on both sides from this huge influx of approximately 100,000 new artists alone, prior to any additional marketing efforts we also intend to roll out shortly,” concluded Rositano Jr.

To support Fan Pass and our artists:  

Download the Fan Pass app on the Apple App Store or the Google Play Store.

Audiences can visit the website at www.fanpasslive.com or download the mobile app from the Apple App or Google Play stores. Fan Pass offers a seven-day free trial, which provides a VIP all-access pass. After seven days, this free trial converts to a fee-based subscription of $2.99 per month, of which artists also receive up to 40% as revenue sharing on a recurring monthly basis.

About Friendable Inc.

Friendable Inc. is a mobile technology and marketing company focused on developing and identifying products, services and brand opportunities with mass market potential and scalability.

Friendable published its first mobile application in the Apple App Store and Google Play Store in 2014 in the social networking and dating category. The Friendable app achieved over 1.5 million downloads, top 10 worldwide rankings, and has led to celebrity-related marketing opportunities and various relationships with well-known music artists as well as up-and-coming independent artists.

Friendable has since removed the social dating app from the app stores and has pivoted its business focus to Fan Pass, its livestream artist platform. Launched July 24, 2020, the Fan Pass livestream platform has proven invaluable for artists and fans alike as performances shifted from the stage to the screen.

Friendable was founded by brothers Robert A. Rositano Jr. and Dean Rositano, who have more than 27 years of experience working together on technology-related ventures.

For more information, visit www.Friendable.com or www.FanPassLive.com.

Forward-Looking Statements

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project" or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected by Friendable, Inc. The Company’s iTunes rankings should not be construed as an indication in any way whatsoever of the future value of Friendable's common stock or its present or future financial condition. The public filings of Friendable, Inc. made with the Securities and Exchange Commission may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Friendable, Inc. cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, Friendable, Inc. does not undertake, and Friendable, Inc. specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

Contact:
Friendable:
Phone: (855) 473-7473 Ext. 101
Email: Info@Friendable.com
www.Friendable.com 

Corporate Communications:
InvestorBrandNetwork(IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is the significance of Friendable's acquisition of Artist Republik?

The acquisition significantly expands Friendable's artist base and revenue potential by integrating approximately 100,000 artists and leveraging Artist Republik's past revenue of over $450,000.

How does the acquisition of Artist Republik impact Friendable's Fan Pass Live platform?

The acquisition enhances the distribution capabilities of the Fan Pass Live platform, positioning it to better support independent artists and optimize revenue streams.

What are the expected financial outcomes following the acquisition of Artist Republik by Friendable?

Friendable expects to see increased revenue growth through the integration of Artist Republik's resources and existing artist relationships, alongside planned technology upgrades.

What challenges might Friendable face after acquiring Artist Republik?

Friendable may face challenges related to resolving current technological issues that could affect immediate revenue generation from the newly acquired artist base.