Wizzard Media Reaches 1,000 Mobile Apps Sees Immediate 20% Increase in App Revenue from New Android Apps
Press Release Source: Wizzard Media On Wednesday January 12, 2011, 7:05 am EST
PITTSBURGH--(BUSINESS WIRE)-- Wizzard Media (NYSE Amex: WZE), the world’s leading podcasting network, today announced a strategic milestone in the Company’s App roll-out plan with the availability of over 1,000 Apps for Apple and Android mobile devices now available for sale. Overall revenues for Wizzard’s App immediately increased by an average of 20% with the launch of Wizzard Media’s App for Android.
“We have continued to execute and see success from our strategy to extend our mobile media monetization efforts for our podcast publishers,” says Chris Spencer, Wizzard Media CEO. “Our state-of-the-art distribution service combined with our unique monetization solution can be quickly and easily extensible to future podcasting and mobile App platforms such as the much anticipated Amazon App Store. Further, the expected Amazon Android Store signals an opportunity for greater revenues resulting from the marketing power and reach of the leading global Internet company and one of the most trafficked Internet retail destinations worldwide.”
Wizzard’s In-App Purchase upgrades and promotional efforts have demonstrated impressive early success with above industry average conversion rates up to 40%. The marketing of bonus episodes available only through In-App Purchase upgrades increased daily downloads and sales by a factor of almost 7, or by almost 700%. Conversion rates to premium subscriptions from paid Apps showed 40% on a unit basis and almost 70% based on revenue.
WTF with Marc Maron, the number two ranked podcast in all of iTunes (the world) and the number 162 ranked App in the very popular Entertainment category, has seen early success with his podcast App. “We have always had a lot of great premium content and our audience has been able to buy episodes from our web site,” says Marc Maron, host of WTF with Marc Maron, a Wizzard Media Network App offering Premium Subscription upgrades. “We are excited to now be able to offer that same premium upgrade via the App. We are thrilled to see such an overwhelming response when new ones are posted. It's awesome! WTF!”
While Apple's iPhone still has the largest share of the U.S. smart-phone market, mobile devices based on Google’s Android operating system are gaining fast. The Nielsen Company reported that the iPhone has 28.6 percent of the market, compared to 25.8 percent for Android. However, with yesterday’s long-awaiting news of the Verizon iPhone4, Wizzard anticipates strong growth in both platforms. According to CNBC, predictions for 2011 sales of the Verizon iPhone4 range from 9 million to 13 million. This boost to iPhone sales should drive new people into the iTunes fold, creating new podcast and app consumers.
Revenue from downloadable mobile apps is predicted to surge from $6.8 billion worldwide in 2010 to $29.5 billion by 2013, according to the research firm Gartner Inc.
About Wizzard Media:
Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, Usher, NPR and more than 16,700 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales. In 2009, the Wizzard Media Network received over 1.4 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, BlackBerrys, Zunes and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at email@example.com.
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.
iPod, iPad, iPod Touch, iPhone and iTunes are all registered marks or trade names of Apple, Inc. Zune is a registered mark of Microsoft. Blackberry is a registered mark of Research in Motion. Andriod, Android Market, AdMob are trademarks of Google.
Contact: Arthur Douglas and AssociatesArt Batson, 407-478-1120 407-478-1120