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SoMedia Networks Update – Record Sales and Order Growth in Reseller Channels
|By Business Wire
|July 24, 2014 09:30 AM EDT
Networks Inc. (TSX-V:VID) (“SoMedia” or the “Company”), the pioneer
of globally scalable cloud-based video production solutions, is pleased
to provide a shareholder update on its business activities within its
SoMedia markets its Scalable Video solutions through three channels:
Resellers, Corporate and Agency, and large B2B marketing and SaaS
platforms. As previously announced on November 5, 2013, the Company had
signed more than 4,000 partners to its Reseller channel, executing on
strategic plans to gain market share. SoMedia’s Reseller partners are
web services companies - primarily digital agencies and web marketers
focused on providing Internet marketing services to millions of small to
medium sized businesses.
Since that time, the Company has focused on segmenting its existing pool
of Resellers and implementing advanced automated marketing and sales
nurturing programs. By targeting and developing high value Resellers the
Company saw substantial growth in Reseller sales during the first half
of 2014 delivering an 80% increase in sales over the same period a year
ago with average order size increasing from $1,198 to $2,934 or 145%.
Quarter to quarter sales momentum also continued with Reseller channel
sales increasing in the second quarter by 67% over the previous quarter.
Further to these sales and marketing initiatives, the Company has begun
executing targeted Reseller acquisition programs focused on niche
verticals in the professional services sector. As a result average order
size from Reseller partners added during the first half of 2014 who
service professional verticals were 376% higher than the average order
size of all Reseller partners added during 2013.
Significant traction has been made within the health care sector by
signing marketing firms and industry-leading marketing service providers
such as Henry Schein, Practice Builders, Lifelearn, Medical Web Experts,
LaunchPoint, Ovation Health & Life Services Inc., Dental Branding, and
more. In addition, new resellers who specialize in the legal and
financial services markets were added such as Get Noticed Get Found,
Elder Law Answers, BL Media, Esquire, and Wealth Management Marketing.
“We are seeing success by targeting Resellers who service professionals
with significant marketing budgets.” said Ben Pickering, President of
SoMedia Networks. “Many of these Resellers are large web marketing firms
with hundreds or thousands of clients. The national reach SoMedia
provides is allowing them to capture unmet demand and the end clients
they serve understand the importance of video in their online marketing.”
The Company is also pleased to announce that it has hired Greg Werbowski
to provide the Company with investor relations services. Subject to TSX
Venture Exchange approval, SoMedia will pay Mr. Werbowski a monthly
salary of Cdn$5,000 for the one year term of the consulting agreement
(the "Agreement"), which may be extended upon mutual agreement of the
parties. In addition, the Company will issue 150,000 common share stock
options ("Options"), of which 37,500 Options will be exercisable at
$0.15 per share and vest immediately upon TSX Venture Exchange approval
of the Agreement and the remaining 112,500 Options will be exercisable
at a price of $0.25 per share and will vest in equal amounts every 3
months thereafter, with no less than 100% over 12 months from the date
of grant. The Options will expire on July 16, 2019, and are subject to
the Company's stock option plan.
About SoMedia Networks
SoMedia Networks, the creator of Scalable Video, has reengineered how
businesses access video content creation, production and deployment. The
cloud-based SoMedia Platform allows businesses, brands and media to
easily order the production of custom video content at scale and volume,
anywhere, on demand, with rapid turnaround, and at a fraction of current
SoMedia provides Scalable Video as an integrated solution to corporate
partners, as a resale solution through thousands of web marketing firms
and directly to digital agencies and millions of SMBs across North
America. To learn more visit: www.somedia.net.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this
release. This news release includes forward-looking statements that are
subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance
and actual results or developments may differ materially from those in
forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions. There can be no
assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation to update
any forward-looking statements. This news release does not constitute an
offer to sell or a solicitation of an offer to sell any securities in
the United States. The securities have not been and will
not be registered under the United States Securities Act of 1933, as
amended (the “U.S. Securities Act”) or any state securities laws and may
not be offered or sold within the United States or to U.S. Persons
unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
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