Sixth Consecutive Year of Revenue Growth; U.S. Deliveries Increase By 60% Over 2007
TORONTO, CANADA – YANGAROO Inc. (TSX-V: YOO, OTC: YOOIF), the industry's leading secure digital media distribution company, today announced its results for the year and fourth quarter ended December 31, 2008. YANGAROO achieved its sixth consecutive year of revenue growth in the year, reporting a 10% increase in revenue (which excludes interest income) over fiscal 2007. Cash and cash equivalents were $3,030,000 at December 31, 2008, representing over a year of funds on hand.
Highlights from 2008 included allowance of the company’s US patent application #10/431,854 titled Content Distribution System and Method, 60% growth in U.S. delivery volume to surpass 2 million, 120% growth in Canadian deliveries, development of the new industry-leading Digital Media Distribution System (DMDS) 5.0 platform, launch of the ecommerce portal DMDSDirect to expand market reach into the independent music sector, registering the 2,000th U.S. radio station on DMDS, integration of DMDS with leading radio station automation systems iMediaTouch, MusicMaster and Powergold, extending agreements with Universal and Warner Music Canada and powering the JUNO Awards for the Canadian Academy of Recording Arts and Sciences (CARAS) with DMDS 5.0.
“Adoption of DMDS in the North American record and radio industries continued at a rapid pace,” said YANGAROO’s President and CEO John Heaven. “The significant growth in both U.S. and Canadian usage of DMDS illustrates that it is becoming an indispensable tool for the music industry. Despite the economic downturn in 2008, our revenues increased for the sixth consecutive year. Growth in independent music sector revenues led this vibrant group to account for approximately half of our revenues. While the onset of the recession appeared to dampen the rate of revenue growth in the last half of 2008, we expect that the achievements of 2008 will drive increased revenue growth through 2009.”
DMDS 5.0 Now Available Throughout North America; European and Global Launch Underway
TORONTO, CANADA – YANGAROO Inc., (TSX-V: YOO, OTCBB: YOOIF) the industry's leading secure digital media distribution company, is pleased to announce the launch of the next generation of its Digital Media Distribution System, DMDS 5.0, the preferred method for sending secured digital media.
DMDS 5.0 is the culmination of months of planning, development and an investment of over a million dollars, based on user feedback and the specific needs of organizations to move and market digital files securely and efficiently.
A significant new feature of the system is support for the delivery of broadcast quality video. Leveraging prior experience in assisting content owners and radio stations to digitize workflows and reduce and eliminate the use of Compact Discs – DMDS 5.0 reduces the reliance on tape based work flows by allowing content owners to drag and drop broadcast quality videos for distribution to industry professionals. This not only facilitates unparalleled collaboration among the involved parties, but reduces or eliminates the duplication, shipping and delivery of tapes- a process that takes a significant amount of time, money and effort.