FT. LAUDERDALE, FL--(Marketwired - Mar 31, 2016) - Multimedia Platforms, Inc. (
GAAP revenue for the year ending December 31, 2015 totaled $1.8 million as compared to $642,173 for the same period in 2014, an increase of approximately $1.2 million. Revenue increased due to expanded circulation, increased sales efforts and the inclusion of revenue from acquired businesses, Columbia FunMaps, Inc., Next Magazine, and Frontiers. On an unaudited consolidated pro forma results of operations as if the Company's acquisitions occurred on January 1, 2014, revenue totaled $3.3 million. Based on GAAP revenue, for the period ended December 31, 2015, gross profit totaled $794,404 and gross profit margin 43.8%.
Bobby Blair, Chief Executive Officer of Multimedia Platforms, commented, "Upon going public in early 2015, we set forth a strategy to acquire the most prominent publications in the LGBT community. We successfully acquired three top global brands providing news and entertainment to the LGBTQ community and their following. These brands consisted of some of the industry's most viewed and read social media channels, websites and print publications in the world. Today, we own five publications encapsulating a readership of nearly 7.5 million, 4.8 million unique visitors annually and over 200,000 social media followers. These valuable assets including industry-leading content and influential content creators in the LGBT community allowed us the opportunity to launch WiRLD, the first global LGBT digital media hub. Since launching in beta on February 1, 2016, we have continued to attract users in the LGBT community as well as globally recognized advertising partners in the travel, hospitality and auto industries. WiRLD is ever-evolving with new features and benefits for our users and advertisers. As we look out into 2016, we have set forth a number of milestones that will allow us to continue building our brand and following in the LGBT community."
2016 Milestones:
Please refer to the Company's Form 10-K filed with the Securities and Exchange Commission for further details.
About Multimedia Platforms:
Multimedia Platforms Inc. ("MMPW") is an industry-leading multimedia, technology and publishing company that delivers content and advertising to one of the most sought-after demographics in the world--the Lesbian, Gay, Bisexual, Transgender and Queer (LGBTQ) population. MMPW's top brands include Frontiers magazine, Florida Agenda, FunMaps re-branded as WiRLD City .Guide, Guy magazine and Next magazine, representing approximately 7.5 million readers and more than 4 million unique online visitors annually.
For more information please visit www.multimediaplatformsinc.com or follow us on Twitter at https://twitter.com/mmpworldwideinc.
Safe Harbor Statement:
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends, " "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
Contact Information:
Investor Contact:
Capital Markets Group, LLC
Valter Pinto
PH: 1.914.669.0222x201
Email: Valter@CapMarketsGroup.com