Over the past 12 months, MEDL grew total downloads to more than 18 million, grew total installations of its proprietary "Brain API" technology to more than 3.5 million, and doubled its current catalog to approximately 200 apps at almost no cost. MEDL also added many new celebrity app partnerships, supplementing its existing partnerships with celebrities such as Cheech & Chong, Rampage Jackson, and Pauly D.
During the online conference, Mr. Maltin provided an in-depth discussion of MEDL's new, proprietary "Hang w/" platform. MEDL developed Hang w/ in response to a problem consistently mentioned by its celebrity partners: Celebrities spend significant amounts of time and money building social media traffic, but they receive little or no revenue. Hang w/ solves this challenge by enabling celebrities to monetize their social media profiles while building engagement with fans.
Hang w/ is the first live mobile video broadcast service for celebrities and fans. The service lets celebrities stream live video from their phones directly to millions of fans, allowing fans to essentially "hang out" with their favorite celebrities. The Hang w/ platform generates revenue from advertisements that play immediately before and after fans view the live feed. MEDL's history of developing mobile apps for top-tier brands such as Taco Bell, Verizon, and Universal Pictures should help the Company secure branded sponsorships for the Hang w/ platform.
Unlike Google Hangouts or other popular celebrity streaming services such as Ustream, Hang w/ is the first platform designed to deliver and monetize a live celebrity video experience via mobile. MEDL successfully beta-tested Hang w/ in October at KCON, a large-scale convention focused on Korean entertainment. During the demo, MEDL streamed live content to thousands of users via the Hang w/ platform. The Company plans a soft launch of Hang w/ on New Year's Eve.
Hang w/ represents a significant opportunity for MEDL. The platform's market potential extends far beyond celebrities: Teachers, motivational speakers, health and fitness professionals, popular brands, YouTube "weblebrities," and faith-based groups are all potential users of Hang w/. MEDL's management team expects Hang w/ to generate revenues of $5 million and $45 million in its first and second years, respectively.
In anticipation of the Hang w/ launch, MEDL further solidified its seasoned management team with recent additions. The Company added Peter Elkin, a veteran deal maker with more than 25 years of business experience, to oversee the launch of Hang w/. Murray Williams, a founding member of Buy.com, also joined MEDL as chief financial officer. Mr. Williams served as Buy.com's CFO during a period in which the company sold over $1 billion in products. Buy.com was the fastest-growing company in the world, with sales of $125 million in its first year of operations.
According to Gartner, a technology-focused market research firm, global social media revenue is projected to reach $16.9 billion in 2012, up 43.1 percent from $11.8 billion in 2011. MEDL's revolutionary Hang w/ platform provides the Company with a strong advantage in social media as a first-mover in the mobile video market. With the critical elements for success in place, it's only a matter of time before MEDL shares begin trading significantly higher. Don't miss your opportunity to invest.
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