$FDBL Watch: Friendable, Inc. (OTC Pink: FDBL) Enters the Live Video Streaming Market
Friendable, Inc. (OTC Pink: FDBL) is a social networking company, which focuses on sharing the present, rather than the past. The company's mobile app allows users to connect with other nearby users that have similar interests or for an activity that they are "Friendable" for. Friendable, Inc. (OTC Pink: FDBL)'s mobile application has seen considerable user growth in 2016. Part of the user growth can be thanks to the strong celebrity integration that Friendable, Inc. (OTC Pink: FDBL) has received throughout 2016. The company has worked with celebrities, such as: Jennifer Lopez, Austin Mahone, Daya, Meghan Trainor, Redfoo, and more.
In October 2016, Friendable, Inc. (OTC Pink: FDBL) took a step into the live video ring with a strategic investment in Hang With, Inc., a live streaming video technology company. In addition to the strategic investment, Friendable, Inc. (OTC Pink: FDBL) acquired a royalty-free, perpetual license for the use of the live video streaming technology and access to 8 million Hang With, Inc. users.
Under the deal, Friendable, Inc. (OTC Pink: FDBL) will now be able to integrate Hang With, Inc.'s live streaming technology into the Friendable mobile app. The Friendable, Inc. (OTC Pink: FDBL) social media app will continue to be free of charge for users to sign up and begin using the new features. The company is looking to establish partnerships with local businesses that are interested in becoming featured meet-up spots for Friendable users. This provides local businesses with advertising on a large social media platform and the ability to profit off hosting Friendable live events.
In addition, the social media company is using the technology to develop an entirely different live streaming application, which is currently in development: Code Named - "Broadcaster". The Broadcaster app will be a premium subscription service that will live stream backstage concert events and other exclusive content from some of your favorite music artists. Friendable, Inc. (OTC Pink: FDBL) will set up revenue-sharing agreements with music artists, who will collect a portion of subscription revenue raised. Therefore, there is an incentive for these celebrities to reach out to their millions of followers to sign up for the subscription service. The Broadcaster app is scheduled to be released early 2017.
"Our strategy is one of diversification as we look ahead to 2017 and with the addition of live streaming video we are now able to leverage our existing relationships with major A-list celebrities, which have been cultivated over the past six months for an entirely new app that will focus on an artist's fan base to provide a new and unique experience to their global audience, because most fans can't always be there in person. Additionally, our phase two integration of live video to our existing user base of Friendable app users will provide a feature upgrade that brings the level of social interaction to a whole new level," details Robert A. Rositano Jr., CEO Friendable, Inc. (OTC Pink: FDBL).
Overall, live video streaming has shown extremely impressive growth over recent years. According to a recent Wall Street Journal article, only 11% of the top 500 media company Facebook pages had a live video, back in January 2016. However, that figure jumped to 44% in May 2016, just one month after the release of Facebook Live. Furthermore, Twitter, Inc. (NYSE: TWTR) says that 15% of the "top brands" are currently utilizing Periscope as a marketing tool to reach new audiences and the company has roughly 200 million live video broadcasts in its platform. The industry has experienced such intense demand and growth over the past year and with the market for live video streaming set to take off, Friendable, Inc. (OTC Pink: FDBL) is prime to benefit from this growth; both from a music and social standpoint. In addition, with the celebrities doing the marketing for them, Friendable, Inc. (OTC Pink: FDBL) could expect to see a very strong 2017.
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