WOODLAND HILLS, Calif. and SAN DIEGO, April 3, 2013 (GLOBE NEWSWIRE) -- GrowLife, Inc. (OTCQB:PHOT), a provider of highly effective indoor growing technologies and unique lifestyle brands, is pleased to announce that consistent with its ongoing mission to build a long-standing brand and multiple streams of revenue, that it has signed a Letter of Intent with Strategic Global Investments (Pink Sheets:STBV) to build a comprehensive, multi-channel media network for the marijuana industry.
The "core" of the network is expected to include:
- GrowLife Studios: San Diego (@ STBV Headquarters) & Los Angeles (@ PHOT Headquarters)
- Partner Studios in New York and Other Large Cities – Affiliations with Other Top Brands
- Quality, Creative Productions on All Marijuana Topics with Expansive Distribution and Websites
- Digital Advertising Server for Banners & Commercials – Multi-Tiered Sponsorships
- Acquisition of Terrestrial TV & Radio Stations / Channels / Rights
"Our vision is to create a platform for everyone in the marijuana industry – from the recreational or medicinal user, to the commercial grower, to the retail or institutional investor, and everything in between. The interest in these markets is evident with the rising profile of marijuana. The value inherent in owning and consolidating the media for this business is overlooked in my opinion," said Kyle Tracey, President of GrowLife and Executive Director of GrowLife Productions. "This project is of direct benefit to GrowLife Productions and www.Cannabis.org in providing us more viewers and traffic, and thus more value for potential sponsors."While the brand penetration for GrowLife as the backbone of this network is immeasurable, a three-pronged approach is being used to design the enterprise in order to maximize revenue and scalability. The three drivers of this business should each operate autonomously and with a commitment to constant improvement and innovation.
1) Quality content will be created by GrowLife, GrowLife partners, and network users. In GrowLife Studios or potential partner studios, and remotely from events by GrowLife Productions – unique content with dedicated creative directors featuring the hottest topics in cannabis will be created. Existing content from GrowLife or GrowLife partners should serve as a quality base of data as the network is populated with exciting shows, clips, and user generated content. 2) Syndication and distribution of content will be coordinated by experts. "Pushing" content through traditional and newly developed or acquired channels expands viewership and sponsorship opportunities. Acquiring these viewers as potential customers for GrowLife or sponsors and improving stickiness and visitor engagement could provide exponential growth of dedicated users. A team is slated exclusively for distribution of content, who will also build a network of websites to serve the content. This team will ensure social media interaction and sharing. 3) Monetizing content through advertisers and sponsorships. Using a blend of advertising servers and traditional sponsorships of shows or content is expected to provide revenue for GrowLife and any partners of this business. This team will be charged with acquiring data for GrowLife and GrowLife partners, and securing revenue agreements via advertising, sponsorship, or affiliate relationships.Internal research indicates that digital advertising and media has yet to marry with the multi-billion dollar marijuana industry. According to a December 19 t, 2012 press release from the Internet Advertising Bureau, online ad revenue hit historic highs in Q3 2012 of $9.3 billion. Those figures are further cited in the release as showing an 18 percent increase year-over-year (compared to 2011's $7.8 billion in Q3). Any potential digital advertising revenue from this network would be above and beyond sponsorship opportunities that will inevitably develop. Strategic Global Investments (Pink Sheets:STBV) CEO & Chairman Andrew Fellner called the deal, "An ability to align our company with the 'green rush' that has the potential to be a great opportunity for our shareholders. It is our intent to provide GrowLife and any partners of this project with the best production quality and access to our proprietary Wazillo Media technologies. In doing so, we expect to acquire a long-term customer and related revenue."