Wizzard Updates FAB’s Retail Media Distribution Business

Wizzard Media (NYSE MKT: WZE), the leading digital media podcast network, today released the second of several informational business overviews regarding FAB. Over the next several weeks, Wizzard plans to issue overviews based on various FAB business segments including: wholesale media distribution, retail distribution of media products as well as digital kiosk based franchise distribution of media products.

FAB Retail Media Distribution Business

Founded in 2003, FAB is headquartered in Beijing and distributes over 150,000 media based products including copyrighted DVD’s, Blu-ray Discs, music CD’s, video games and downloadable digital content through three distribution channels – wholesale, retail and digital kiosks.

Audited Revenues for FAB’s Retail business segment were $7.8 million in fiscal 2010 and $9.7 million in fiscal 2011. FAB currently operates a 30,000 sq. ft. store in the prestigious Joy City shopping mall (recently visited by Wizzard’s CEO and CFO) and is currently updating and relocating a second store to the new Guosheng shopping mall. See pictures of both of these stores by clicking  here.

FAB’s Retail distribution business is built around large, showcase retail stores located in high-end shopping malls that sell media content and related media devices. FAB’s flagship stores serve as showcases for movie and music star autograph appearances. Through licensing agreements signed with media companies, FAB is able to use its stores as platforms for domestic star signing ceremonies, with over 2,000 events attended by millions of fans under its belt FAB’s Retail operation has grown to become China’s most well-known venue for new media releases and announcements.

In addition to generating significant revenue selling traditional media, the stores are flagships for building FAB brand awareness with consumers and promoting the expansion of FAB’s franchises. Additional retail stores are planned for Chengdu, Guangzhou, and Shanghai.

The Chinese government has recently announced initiatives for the protection of copyrighted content as both an official policy and a strategic priority for expansion by Western media, and it has publicly recognized FAB as an anti-piracy champion. Post-acquisition, the parties intend to aggressively pursue opportunities for expansion and further acquisition in China’s fragmented and emerging media industry.

For more information on FAB, please click here. For more information on FAB Retail business click here.

The acquisition of FAB by Wizzard is subject to approvals by each company’s shareholders, the satisfaction of customary closing conditions and regulatory approvals both in the U.S. and China.

About Wizzard Media:

Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 10,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales and subscriptions. In 2011, the Wizzard Media Network received well over 1.64 billion podcast requests from approximately 50 million people worldwide through iPods, iPhones, iPads, iTunes, Blackberrys, Windows Phones, Androids and many other devices and destinations. We are part of a publicly held, Pittsburgh based company with thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at contact@wizzard.tv.

Legal Notice

Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies.

Copyright Business Wire 2010

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