Investee Company Update: Yooya

RNS Number : 6627E

FastForward Innovations Limited

20 July 2016

 

FastForward Innovations Limited

20 July 2016

FastForward Innovations Limited

("FastForward", the "Company" or "FFWD")

Investee Company Update: Yooya

FastForward, an AIM listed company trading under the symbol FFWD, announces that its investee company Yooya has achieved several significant milestones, including:

1.  exceeding 9.6 billion lifetime views, more than double the 4 billion lifetime views announced in April, 2016;

2.   exceeding 355 million monthly views for the month of June, 2016;

3.   exceeding 123 million weekly views for the week ended July 17, 2016;

4.   adding 12 new distribution partners since April, 2016, bringing its total distribution partners to 32 video platforms; and

5.   adding 10 new video rights owners as content partners to its online video network during the previous six weeks, bringing Yooya's total to 111 content creators across 445 video channels.

Each above milestone demonstrates Yooya's performance significantly exceeding their KPI targets for the 2016 calendar year. 

Commenting on Yooya's progress, Lorne Abony, CEO of FastForward noted, "We were ecstatic when it took only seven months for Yooya to add 2.75 billion lifetime views to surpass 4 billion in April.  It has now taken Yooya approximately 3.5 months to add its next 5 billion lifetime views - nearly double the views in half the time - which is quite impressive by any standard.

"What Yooya has accomplished during the last several months," Abony added, "signing nearly every Chinese video platform, the compelling new content they have added, the astounding rate of growth in viewership, is, quite frankly, remarkable.  Yooya's spectacular performance versus plan, as measured by every important metric, is a testament to the team CEO Rick Myers is building in Shanghai.  

"Yooya is well on its way to building a technology platform that is a one-stop solution to manage the distribution, analytics and monetisation of video content in China. As advertisers increasingly turn to online video media for reaching their target demographics in China, Yooya is now well-positioned to quickly and cost effectively connect brands to previously fragmented video content and distribution platforms, and to do so at scale.  Needless to say," Abony concluded, "FastForward is very excited about Yooya."

About Yooya

Yooya is one of China's fastest growing online video networks and provides comprehensive content distribution, rights management, and video-based advertising solutions.

Yooya's one-stop, technology-driven approach delivers broader distribution, better data & analytics, superior monetisation, and more effective video advertising solutions to the company's clients.

For further information on the Company and its investments please visit www.fstfwd.co or contact:

FastForward Innovations Limited [e-mail]

Josh Epstein / Ian Burns

Peel Hunt LLP Tel: [phone]

Dan Webster / Adrian Trimmings / George Sellar

 

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