Preliminary results show revenues up over 40% year over year and 50% quarter over quarter
Toronto, Canada – YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), Canada’s leading secure digital media distribution company today announced preliminary and un-audited numbers indicate that the fourth quarter of 2014 will be a record for the company, with revenue expected to be approximately $1.5M. This represents growth of over 40% compared to the same period in 2013 and approximately 50% greater than the prior quarter.
Advertising led the way with a dramatic increase of over 90% over the previous quarter and more than double the same quarter in the previous year. The Advertising division added 25 customers during the fourth quarter, bringing the total number of new clients in 2014 to 90.
The Entertainment Division saw continued growth in music video delivery including closed captioning, and combined with awards show revenue, was up 27% over the previous quarter and 13% over the same quarter in 2013. New initiatives internationally are expected to keep growth strong in 2015.
“The strong sales we saw in October continued through the fourth quarter in all areas of the business,” said Gary Moss, President and CEO of YANGAROO Inc. “The significant increase in advertising revenue resulted from over 80% of the 90 new customers we signed during 2014, utilizing our distribution platform, for the first time, over the last 5 months of the year. The rates of both customer acquisition and onboarding have laid a solid foundation for continued growth in 2015. We are especially encouraged by the significant new client relationships in Canada.”
About YANGAROO, Inc.
YANGAROO, founded in 1999, is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a secure cloud-based platform that provides users the ability to leverage technology; automating dozens of steps to eliminate errors and streamline content delivery efficiently. Content, such as music, music videos, and advertising can be quickly distributed to a network of over 11,000 television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is the industry standard and powers most of North America’s major awards shows.
YANGAROO has offices in Toronto, New York, and Los Angeles. YANGAROO trades on the TSX Venture Exchange (TSX-V) under the symbol YOO and in the U.S. under OTCBB: YOOIF.
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