Hoping to Become the Next Digital Media Giant
BEVERLY HILLS, CA / ACCESSWIRE / August 5, 2015 / WOWIO, Inc. (OTC:WWIO), a digital media and technology development company today announced a new expansion strategy that will include acquisitions of media development, production, distribution and marketing companies and other assets.
"We're going to serve the global appetite for digital media, and take advantage of that worldwide audience," stated CEO, Brian Altounian. "If you look at the impact that Hulu, YouTube, Netflix, and Amazon have had on the distribution side of film and television and now all of those entities are developing, producing and distributing original content in direct competition with those same entities (studios and television networks) that were originally the main suppliers of content. It would be imprudent for us NOT to try to participate in this next powerful wave of growth in the entertainment industry."
Fresh from a capital restructuring effort, the company is methodically following its previously-announced plan to enhance net stockholders' equity and is focusing its efforts on opportunities to create and monetize ancillary content and product lines beyond eBooks.
"As we mentioned in previous correspondence to shareholders, we have seen tremendous opportunities in digital media as new players have come into the market, providing a viable outlet for creative projects," says Brian.
WOWIO had been pursuing a technology and platform play in the eBook distribution space and while Altounian insists that technology development will continue to be a key effort for the company, the next phase of the restructuring plan is to explore the acquisition of profitable businesses and performing assets beyond publishing.
"Digital Publishing is still in its nascent stages of growth and there are many opportunities to create new, viable and exciting means of storytelling in the mobile, connected digital world that incorporate eBooks as we know them today. Our goal is to take what we've learned in the eBook space and build fascinating, accessible, creative projects that will be attractive to our core audience of 18- to 45-year old media consumers."
Altounian believes this new plan will reinvigorate investor confidence as the Company builds net stockholders' equity and continues to remove affiliate & non-affiliate debt from the balance sheet, providing a good quantitative story to match the qualitative financial package.
WOWIO holds a proprietary patent that allows for the insertion of advertising into eBooks, a mobile eBook distribution platform, and a proprietary mobile ad network, providing the digital publishing distribution channel as a viable alternative to that of other content distribution outlets.
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