HOLLYWOOD, Calif., Oct. 21, 2013 (GLOBE NEWSWIRE) -- The Digital Development Group Corp., the Company, DigiDev TV (OTCBB:DIDG), an independent provider of content, today announced a 231% increase in revenues between first quarter ending March 31st, and third quarter ending September 30, 2013. The Company is set to launch additional channels this month and each month thereafter, continuing its mission to become a premier provider of independent content.
"While NetFlix, Amazon, and Hulu are focused on A-list titles, representing twenty percent of available content," said CEO Martin W. Greenwald, former CEO of video distributor Image Entertainment. "We're concentrating on the other eighty."
DigiDev TV currently offers more than 1,500 hours of content to suit a variety of tastes, including sci-fi, horror, rare documentaries, foreign films and more. Currently available on the internet TV platform Roku and online at www.digidev.tv, DigiDev has also begun developing apps for Apple's iOS and Google's Android platforms, which, in the coming months, will give them entry into the very lucrative mobile market.
To position the Company closer to profitability, overhead has recently been reduced by approximately 50%. The company expects positive cash flow on a monthly basis by the end of first quarter 2014.
Revenue growth suggests DigiDev TV's programming strategy is clearly working. "Our efficiency level continues to improve," says Greenwald. "That extends to our commitment to communicating with shareholders on a regular basis."
While the current subscriber base was achieved with a nominal marketing budget, DigiDev expects this figure to multiply as marketing efforts increase. "We don't need to hit home runs," he says. "It's all about hitting singles—and lots of them."
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Digital Development Group Corp. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Digital Development Group Corp. undertakes no obligation to revise these statements following the date of this news release.