Wizzard Releases FAB Historical Growth Trajectory

Wizzard Media (NYSE MKT: WZE), the leading digital media podcast network, today released a historical update of FAB as part of its ongoing information transfer to shareholders in advance of Wizzard’s planned acquisition of FAB. The acquisition was approved by Wizzard shareholders on July 30 th, 2012, and is in the final stages of closing.

Previous informational updates on FAB include: Wholesale Media Distribution, Retail Media Sales and Intelligent Media Kiosks.

Significant FAB Milestones

2004 – 2009
  • FAB hosts the China International Audio and Video Expo International Forum.
  • FAB President, Mr. Wang, speaks at the Beijing International Cultural & Creative Industry Expo.
  • FAB Digital Entertainment Culture Square opens in Beijing’s Joy City in Xidan.
  • FAB develops the “Beijing Traveling Expert” Project with the Beijing Tourism Commission.
  • FAB generates $38.9 million in revenues and $4.6 million in earnings for fiscal year 2009.

2010
  • FAB helps launch China's 100 Audio-Visual Cooperation Anti-Piracy Campaign with the leaders of the Ministry of Culture along with more than 100 audio-video media companies.
  • FAB initiates and establishes a National Anti-Piracy Alliance.
  • FAB sponsors the sub-forum of the Fifth Beijing International Cultural Creation Industry Expo: “ International Digital Culture Industry Investment and Financing Forum”
  • FAB’s "Tour Beijing" Intelligent Media Kiosks launched throughout Beijing.
  • FAB generates $55.5 million in revenues and $11.7 million in earnings for fiscal year 2010.

2011
  • FAB hosts the International Digital Culture Industry Investment and Financing Forum in Zhengzhou.
  • FAB online store successfully launches Internet operations.
  • FAB signs cooperative agreements with the State Development Bank and the Agricultural Bank of China.
  • FAB gains strategic cooperation with Tencent and QQ music FAB sales chart on-line.
  • FAB sponsors the 2011 Copyright Society of China’s Annual Conference Theme Forum
  • FAB co-sponsors the 3rd International Digital Cultural Industry Investment and Financing Forum.
  • FAB moves headquarters to CRD Park within Shijingshan District of Beijing and has opening ceremony.
  • FAB generates $70.9 million in revenue and $15.3 million in earnings for fiscal year 2011.

2012
  • FAB, in partnership with Guangzhou Books Center, builds China's first "digital information" Bookstore.
  • FAB participates in the World Intellectual Property Protection of Audiovisual Performance Diplomatic Conference in Beijing. This was the first international, inter-government conference that the World Intellectual Property Organization has sponsored in the past 16 years. The conference concludes with the signing of the  Audiovisual Performance Treaty, which enhances both China and Beijing's international reputation and is of great significance to the promotion of China's copyright and culture.
  • FAB showcases its 5C Intelligent Kiosks at the 22 nd National Book Trade Fair held in Yinchuan, Ningxia. More than 400 colleges and universities’ library teachers attend from all over China and experience FAB Library System Intelligent Kiosks specifically designed for the university library to provide teachers, students and publishers with an important platform for social, academic and cultural exchanges.
  • FAB participates in the 10th Beijing International Book Festival. FAB’s 5C Intelligent Media Kiosks receives high ratings by attendees including the State Press and Publication Administration’s Technology and Digital Publishing Division along with the Beijing Municipal Bureau of Press and Publication.
  • Xianyang Municipal Governors visit FAB Headquarters for a tour and reach a preliminary cooperate intention of a Digital Intelligent City, to be built in Xianyang City utilizing FAB’s 5C Digital Industrial Chain Platform. This innovative life experiences platform integrates original content, news, entertainment information, sales of digital products, online shopping, utility payments, media, content downloads and other business functions.
  • Beijing Copyright Bureau Deputy Director Wang Yefei visits FAB headquarters and praises the achievement of FAB’s 5C Intelligent Media Kiosks in intelligent city projects in Tianjin and Beijing.
  • FAB co-sponsors the 4th International Copyright Expo held in the China World Trade Center in Beijing. As the largest exhibitor and sponsor, FAB demonstrates its achievements to the international copyright community highlighting cultural exchange, copyright protection, content creation and intelligent terminal technologies.
  • FAB hosts the International Film & TV, Music Copyright Forum and wins the Prestigious CICE Award. FAB 5C Intelligent Kiosks become one of the highlights of this Expo.
  • FAB increases its cooperation with the world’s leading culture and copyright content organizations thereby greatly enhancing the international competitiveness of the enterprise and got high ratings from the World Intellectual Property Organization (WIPO) Director General Francis Gurry, Deputy Director, General Wang Binying, and leaders from General Administration of Press and Publication, National Copyright Administration and Beijing Municipal Government.
  • FAB generates $62.7 million in revenue and $15.6 million in earnings for the nine months ending June 30 for fiscal year 2012.

The combined company of Wizzard and FAB plans to aggressively expand through internal growth and domestic and international acquisitions over the next two years to build a global distribution powerhouse for mobile digital entertainment.

For more information on FAB, please 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