I inquired some information from MyPraize and although the response is limited it does reiterate that LFBG's expansion is a positive step in the right direction.
Hey John,
I can't really talk about numbers and such... I think that's more in the responsibilities of Troy. However, I can share with you that in the new version of MyPraize coming out this summer will have a lot of new features, one of which is a section of the site which will be our new "music" section, but super-sized and will allow purchasing of MP3s. We are currently talking with some major Christian labels and getting things lined up so we can compete with iTunes but obviously only in the Christian genres.
MyPraize has ZERO debt, and because the site was moved into Cloud hosting this year in 2011, our server fees are extremely low. We utilize Amazon S3 for Content Delivery Network and Storage and then Cloud servers for expandable web servers when needed.
If "MyPraize 2.0" goes well this summer we have intentions of pursuing streaming services in the future but that's a whole different beast really.
This is about all we have in concrete that I can really share openly because it was briefly eluded to in the press release.
Hope this helps,
Joshua
