TORONTO, May 04, 2017 (GLOBE NEWSWIRE) -- YANGAROO Inc. (TSX-V:YOO) (OTC:YOOIF), the industry’s leading secure digital media management and distribution company today announced preliminary and un-audited numbers indicating 2017 Q1 revenues in the range of $1.65M to $1.7M.
The Advertising Division ended the first quarter with record revenues increasing approximately 50% over the same quarter in 2016 and up approximately 20% over the prior quarter. This growth was driven primarily by new customers and increased use by current customers.
The Entertainment Division’s revenue was flat versus the first quarter in 2016 and was down slightly versus the prior quarter.
“The increase in Advertising revenue in late 2016 has carried into 2017,” said Gary Moss, President and CEO of YANGAROO. “The increased business from existing clients, combined with the addition of significant new brands over the past 6 months have resulted in record quarterly Advertising Division and Consolidated sales.”
About YANGAROO:
YANGAROO is a company dedicated to digital media management. YANGAROO’s patented Digital Media Distribution System (DMDS) is a leading secure B2B digital cloud based solution focused on the music and advertising industries. The DMDS solution provides more accountable, effective, and far less costly digital management of broadcast quality media via the Internet. It replaces the physical, satellite and closed network distribution and management of audio and video content, for music, music videos, and advertising to television, radio, media, retailers, and other authorized recipients. The YANGAROO Awards platform is now 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.
The statements contained in this release that are not purely historical are forward-looking statements and are subject to risks and uncertainties that could cause such statements to differ materially from actual future events or results. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT: For YANGAROO Investor Inquiries: Gary Moss Phone: (416) 534-0607 gary.moss@yangaroo.com
