Wizzard Updates FAB’s Retail Media Distribution Business
June 27 2012 - 8:00AM
Business Wire
Wizzard Media (NYSE MKT: WZE), the leading digital media podcast
network, today released the second of several informational
business overviews regarding FAB. Over the next several weeks,
Wizzard plans to issue overviews based on various FAB business
segments including: wholesale media distribution, retail
distribution of media products as well as digital kiosk based
franchise distribution of media products.
FAB Retail 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, retail and
digital kiosks.
Audited Revenues for FAB’s Retail business segment were $7.8
million in fiscal 2010 and $9.7 million in fiscal 2011. FAB
currently operates a 30,000 sq. ft. store in the
prestigious Joy City shopping mall (recently visited by
Wizzard’s CEO and CFO) and is currently updating and relocating a
second store to the new Guosheng shopping mall. See pictures
of both of these stores by clicking here.
FAB’s Retail distribution business is built around large,
showcase retail stores located in high-end shopping malls that sell
media content and related media devices. FAB’s flagship stores
serve as showcases for movie and music star autograph appearances.
Through licensing agreements signed with media companies, FAB is
able to use its stores as platforms for domestic star signing
ceremonies, with over 2,000 events attended by millions of fans
under its belt FAB’s Retail operation has grown to become China’s
most well-known venue for new media releases and announcements.
In addition to generating significant revenue selling
traditional media, the stores are flagships for building FAB brand
awareness with consumers and promoting the expansion of FAB’s
franchises. Additional retail stores are planned for Chengdu,
Guangzhou, and Shanghai.
The Chinese government has recently announced initiatives for
the protection of copyrighted content as both an official policy
and a strategic priority for expansion by Western media, and it has
publicly recognized FAB as an anti-piracy champion.
Post-acquisition, the parties intend to aggressively pursue
opportunities for expansion and further acquisition in China’s
fragmented and emerging media industry.
For more information on FAB, please click here. For more
information on FAB Retail business click here.
The acquisition of FAB by Wizzard 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, 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.
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