Wizzard Updates FAB’s Growing Wholesale Media Distribution Business
07 Juni 2012 - 5:05PM
Business Wire
Wizzard Media (NYSE Amex: WZE), the leading podcast network,
today released the first of several informational business
overviews regarding FAB. Over the next several weeks, Wizzard plans
to issue additional overviews based on various FAB business
segments including: wholesale media distribution, retail and
franchise based distribution of media products as well as digital
kiosk based distribution of media products.
FAB Wholesale Media Distribution Business
Founded in 2003, FAB is headquartered in Beijing and distributes
over 150,000 media based products including copyrighted DVD’s,
Blu-ray Discs, music CD’s, video games and downloadable digital
content through three distribution channels – wholesale and retail,
vending kiosks and internet stores.
FAB wholesale distribution business distributes media products
to over 80 customers including Sohu (NASDAQ: SOHU), Dangdang (NYSE:
Dangdang) and Century Outstanding Information Technology Company, a
subsidiary of Amazon.com (NASDAQ: AMZN). FAB’s wholesale business
caters to three types of customers: large retail stores, FAB
franchise stores and small wholesale/resellers. Customers place
orders by telephone, through the internet or in-person and
fulfillment is handled by FAB’s vehicle fleet or through direct
warehouse access.
With over 100 suppliers and 80 wholesale customers, including
the Government, the wholesale business segment is growing rapidly
with FAB strongly positioned to be the leader in copyright
protected material as the media entertainment industry continues to
expand in China. Revenues for the wholesale business segment were
$23.5m ’09, $31.9m ’10, $44.7m ’11 and $27m for the first six
months of fiscal 2012.
Recently, the Chinese government announced initiatives for the
protection of copyrighted content as both official policy and a
strategic priority, and has publicly recognized FAB as an early
anti-piracy champion.
The development of the digital media industry in China is now a
national strategic initiative based on China’s official Eleventh
Five-Year Plan passed by China’s National People’s Congress.
Following sustained lobbying efforts by western media companies,
China has begun to relax its longstanding limits on foreign media.
For example, up to 20 blockbuster western movies can now be shown
in Chinese theaters per year. The demand for viewing foreign DVD
content on personal entertainment devices has burgeoned and with
the government’s official crack-down on pirated content becoming
official, FAB and the network of retailers it supplies have
experienced substantial increases in demand.
For more information on FAB, please click here.
The acquisition of FAB by Wizzard, which is expected to close by
August, 2012 is subject to approvals by each company’s
shareholders, the satisfaction of customary closing conditions and
regulatory approvals both in the U.S. and China.
About Wizzard Media:
Wizzard Media provides podcast publishers with distribution and
monetization services. Our clients include Microsoft, National
Geographic, Harvard Business Review, NPR and more than 10,000
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 and
subscriptions. In 2011, the Wizzard Media Network received well
over 1.64 billion podcast requests from approximately 50 million
people worldwide through iPods, iPhones, iPads, iTunes,
Blackberrys, Windows Phones, Zunes, Androids 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
contact@wizzard.tv.
Legal Notice
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 and changes in our business
strategies.
Fab Universal Corporation (AMEX:WZE)
Historical Stock Chart
Von Apr 2024 bis Mai 2024
Fab Universal Corporation (AMEX:WZE)
Historical Stock Chart
Von Mai 2023 bis Mai 2024