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FAB Universal Corp. (FU) Anticipates Massive Audience Expansion For Libsyn

|Includes: FAB Universal Corp. (FU)

FAB Universal, a global distributor of digital entertainment, announced today that the number of unique visitors per month has expanded from 20 million in the first quarter of 2012 to 28 million people in the first quarter of this year. This 40% increase can be attributed to 8 million new podcast audience members from 240 countries enjoying podcasts on the Libsyn Network every single month.

The recent explosive growth of audience engagement with podcasts coincides with the developing trend of more shows being distributed to mobile devices than to tradition PCs. There is a foundational transition from the traditional method of downloads via iTunes to the PC to direct distribution to mobile devices such as iPhones and iPads. This drift towards mobile downloads represents massive opportunity for a company to set in and monetize podcasts using download tracking technology similar to the solution implemented on streaming video content on a site such as YouTube. Prior to this shift in consumption habits, this type of tracking was impossible.

FAB Universal, the parent company of Libsyn, expects Libsyn to generate $1 million in profit this year, which would be a first for the podcast division. FAB Universal expects to generate Revenue between $98.9 million and $102.6 million for the full year 2013 and expects after tax Net Income between $19.3 million and $20.1 million for the full year 2013.

"It is an exciting time for podcasting and we are well-positioned for substantial revenue growth with the Libsyn platform, our mobile strategy and monetization opportunities for our producers," said Laurie Sims, President of Libsyn. "Our strategy has always been to provide producers with the tools to distribute and monetize podcast media and today we remain the premier podcast platform in the world. We expect to see even more opportunities for hosting and monetization revenue in 2013."

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