Appitalism Music Catalogue Pa

RNS Number : 3858W

Mobile Streams plc

18 November 2010

 



Mobile Streams plc

Appitalism Music Catalogue passes 10 Million Items

London - (AIM: MOS) - 18 November 2010 - Global mobile content retailer, Mobile Streams, announces today that its recently launched Appitalism.com service now has a catalogue of more than 10 million music downloads for members to select for their PC or mobile devices.

More than 9.5 million full length music tracks from the major independent and the four major music labels; EMI, Sony Music, Universal Music Group and Warner Music Group are available in the Appitalism Music Store in the U.S. and Canada. A catalogue of more than 5 million tracks from independent labels as well as EMI and Warner Music Group is also available on Appitalism in the U.K. 

Simon Buckingham CEO of Mobile Streams said: "The Appitalism.com service has been designed to help consumers get the most value from their digital devices and to provide fuel for their digital lives. This comprehensive music library is a key part of that proposition. Appitalism is a destination that conveniently brings together not just apps but all types of digital content in a single place instead of having to search different stores for different genres of content. Appitalism members can easily access their music through their personal App Cloud from where it can be easily downloaded onto different mobile and computing devices simply by logging in from any web browser."

The new music content ensures that Appitalism users have the highest quality song and album choices with tens of thousands of new tracks added every week across 23 top-level genre categories. Additionally, the Appitalism music store contains other music content including ringtones and music-related apps.

Appitalism revenues are earned from tiered recurrent monthly subscription clubs, one-off purchases of apps and content. Transactions on the site are all made via either credit or debit cards with the proceeds arriving the next day in the U.S. These cash inflows are used to offset customer acquisition and marketing costs. Additional revenue is derived from banner advertising with initial advertising rates earning stronger than modelled thanks in part to new launches of digital devices which coincided with Appitalism's launch.

Test marketing programs are rolling out on various mobile and online advertising networks and are concentrated towards Cost Per Acquisition (CPA) programs whereby payment is made to the advertising network only for each specific Appitalism subscription transaction that is generated from that network rather than paying simply for clicks or visitors to Appitalism.com.

The investment in 2010 of around £750,000 in the design, development and launch of the Appitalism service has been funded from a combination of operational cash flow and cash reserves.

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Enquires:

Mobile Streams                                                          [phone]

Simon Buckingham, Chief Executive Officer

Gabriel Margent, Chief Financial Officer

Victoria Tayler, Public Relations Manager              [phone]

Nominated Adviser

Grant Thornton UK LLP                                             [phone]

Philip Secrett

Broker

Singer Capital Markets Limited                               [phone]

Jeff Keating

Notes to Editors

About Appitalism.com

Appitalism.com was developed by Appitalism, Inc, a wholly owned subsidiary of Mobile Streams.  Appitalism.com combines a social community with an online store, enabling consumers to discover, discuss and download digital media from a catalogue of over five million premium apps, songs, books, games and videos compatible with a broad range of digital devices including smartphones, tablets, PCs and eBook readers. Appitalism offers an unbiased and personalized experience for members based on their interests and on feedback from the wider community.

Appitalism.com is free to join and active members who write reviews and continually engage with the site are rewarded with titles and badges and earn "App Rewards" for their contributions to the community. App Rewards can be redeemed for content items from the Appitalism catalogue. 

 

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